The exchange will halt trading Aug. 26 as its global CEO says he was terminated days earlier and learned of the closure publicly.
Posted July 27, 2026 at 7:19 am EST.
Crypto exchange BitMart has begun winding down its trading platform, suspending new registrations, deposits and orders ahead of a full trading halt on Aug. 26. The exchange in a Sunday notice said the decision followed an evaluation of its operating conditions, market environment and strategic direction.
All spot, futures and other trading services stop at 01:00 UTC on Aug. 26, and BitMart plans to cease platform operations at 15:59 UTC on Jan. 31, 2027, after which users keep login access for a period to view records and submit withdrawal requests. However, the exchange recommends closing positions by 01:00 UTC and submitting withdrawal requests by 05:00 UTC on Aug. 26. Futures accounts have already been moved to reduce-only mode, and Earn, staking, lending and Launchpad products are being discontinued in phases, the exchange said.
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BitMart Global CEO Nenter (Nathan) Chow said on X that the company told him on July 24 his employment was being terminated with immediate offboarding, adding that he had played no role in management or decision-making since that date and that he learned of the wind-down when it became public. He said he had no confirmed departure date and would not comment further, urging users to rely only on official channels and act without delay.
BMX, the exchange token, has fallen over 80% since Friday to about $0.054.
BitMart said in a first-half report released earlier this month that assets under management grew roughly 256% period-over-period, while touting plans to expand prediction markets, tokenized assets and the exchange’s regulatory footprint. In June the company said it had secured an Australian Financial Services Licence and served more than 13 million users across 180 countries and territories.
BitMart suffered a $150 million hot-wallet hack in December 2021. The shutdown comes days after BitMEX said it would close permanently on Sept. 23 following a strategic review, with both exchanges converging on Aug. 26 as the date new positions stop.
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AI-assisted content: This article was produced with the assistance of AI tools and was reviewed, edited, and fact-checked by a member of the Unchained editorial team before publication.
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