As BitMart winds down toward a January 31, 2027 closure, users report stalled withdrawals, with one affected-user group claiming about $3.7 million is stuck across 27 large-balance accounts.
BitMart’s planned wind-down has been followed by mounting complaints over delayed withdrawals, even as the exchange says its withdrawal channel remains open. The platform stopped accepting new registrations and deposits around its July 26, 2026 shutdown notice, will halt trading at 15:59 UTC on August 26, 2026, and plans to cease official operations on January 31, 2027. Customers have been urged to complete identity verification, close positions before 01:00 UTC on August 26, and submit withdrawal requests before 05:00 UTC that day. The exchange says some requests are subject to manual checks covering KYC, login devices and IP addresses, withdrawal address risk, fund sources, trading history, Travel Rule compliance, sanctions screening, and possible requests for extra documents. Users on X have reported “on-chain withdrawal freeze” messages, notices saying transfers were complete without visible blockchain movement, and withdrawals stuck in pending status. In a newer coordinated complaint, user MINGLI said 27 large-asset users reported about $3.7 million in blocked withdrawals, with the largest single case involving 700,000 USDT, and asked BitMart to respond within 24 hours. On-chain data has added to scrutiny. Lookonchain said only 58 wallets withdrew about $805,000 in the 24 hours after the announcement and that BitMart processed no withdrawals during one eight-hour stretch. Wallets attributed to BitMart held roughly $69 million in crypto assets by July 27, down from about $102 million earlier in the month, while BMX fell more than 80% in a week to around $0.057. The figures have fueled speculation about liquidity strain, though BitMart attributes the slowdown primarily to compliance volume rather than insolvency.