BitMart shows withdrawal delays as assets drop to $69 million

BitMart's wind-down is now being accompanied by a sharp increase in Ethereum withdrawals as users move funds off the exchange after transfers briefly froze and then reopened. CryptoQuant data cited in the latest report showed ETH withdrawal transactions from BitMart rising to their highest level in a year, surpassing all prior readings since July 2025, in a sign that customers are rushing to exit following the exchange's July 26 announcement that it would shut down trading over the coming months. The phased closure remains central to the story. BitMart paused registrations, deposits and new trading orders on July 26, with full trading services scheduled to end on Aug. 26, while withdrawals are set to remain available until January 2027. That timetable has left users with limited time to close positions and retrieve assets, and has intensified scrutiny of the exchange's withdrawal processing after earlier reports of delays and additional compliance checks. The new withdrawal surge adds to evidence of customer unease but has not yet translated into broader market disruption. Ethereum was trading near $1,881 in the latest BeInCrypto data, while the report said market-wide trading volumes were largely unaffected, suggesting the pressure remains concentrated at BitMart rather than signaling a wider flight from centralized exchanges. The episode also comes during a broader shakeout among smaller crypto venues, with BitMEX also moving toward closure and Dango shutting down this month, as analysts argue weaker platforms may continue to consolidate or exit.