BitMart has begun winding down its global trading platform, setting an August 26 deadline for all spot, futures and other trading services.
The exchange stopped accepting new registrations and deposits from 01:30 UTC on July 26. Futures accounts are moving into reduce-only mode, while spot trading will no longer accept new orders. Copy trading, grid trading, API trading and other automated services are also being discontinued.
BitMart attributed the closure to an assessment of its operating conditions, the market environment and its future strategy. The exchange did not identify a single event, regulatory action or financial shortfall behind the decision.
All remaining trading services will end at 01:00 UTC on August 26. Futures positions still open at the cutoff may be settled using the applicable mark price, index price or platform settlement rules.
Users Told To Withdraw Before August 26
Withdrawals remain available, but BitMart urged customers to close positions and complete identity verification before the trading cutoff. Users were asked to submit withdrawal requests by 05:00 UTC on August 26.
The exchange warned that withdrawals may require additional reviews covering identity records, login devices, transaction history, source of funds, sanctions screening and ownership of destination wallets. Heavy demand, blockchain congestion or requests for additional documents could extend processing times.
BitMart Earn, staking, lending and Launchpad products will close in phases, with separate redemption and settlement instructions sent to affected customers. Users have also been told to download their account balances and full deposit, withdrawal and trading histories.
Requests submitted after the recommended deadline will enter a separate processing procedure. BitMart plans to keep account access available for a limited period after the platform formally ceases operations at 15:59 UTC on January 31, 2027.
BMX Falls As Exchange Closures Continue
BitMart’s BMX token fell 42.5% over 24 hours to approximately $0.1168 after the shutdown notice, with its seven-day decline reaching 62.5%. The token traded between $0.1168 and $0.2045 during the latest 24-hour period.
The closure follows BitMEX’s decision to end derivatives trading on September 23. BitMEX will also restrict new positions from August 26 before closing the platform founded by Arthur Hayes, Ben Delo and Samuel Reed.
Luno separately set a September 1 deadline for closing European Union accounts, while Pingu Exchange moved its perpetual trading platform toward final settlement on July 31.
BitMart’s spot, futures and other trading services are scheduled to stop at 01:00 UTC on August 26.
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