BitMart Becomes Latest Crypto Exchange to Shut Down
BitMart announced it will wind down its trading platform after nine years, becoming the second major crypto exchange to close in a week. It stopped new registrations, deposits, and orders on Sunday, with spot and derivatives trading ending August 26 and full shutdown set for January 31, 2027. Withdrawals remain open, but checks on identity, devices, sanctions, and source of funds may slow processing. BitMart cited “operating conditions, market environment, and future strategic direction” as the reason. Its BMX token plunged 81% in a week to $0.057, cutting market value to $19.6 million. The exchange also suffered a $196 million hot-wallet hack in 2021 and reimbursed users. The closure follows BitMEX’s recent shutdown, highlighting broader consolidation in crypto.
