BitMart founder Sheldon Xia said he plans to involve law enforcement and pursue technical and data forensics after allegations were posted from the exchange's official Chinese-language X account during BitMart's shutdown. The account demanded that Xia explain the whereabouts of user funds, disclose wallets, assets, liabilities and reserves, and produce a repayment plan by Wednesday, while saying some users still could not withdraw funds and some employees had not received final salary or compensation. Xia called the claims fabricated rumors, said evidence had been preserved, and said he would file a police report and send a lawyer's letter to X. BitMart announced on July 26 that it would wind down its exchange after its BMX token plunged and users reported withdrawal delays, with trading set to end on Aug. 26 and operations to cease on Jan. 31. Wallets attributed to BitMart by Arkham held about $36.5 million in crypto assets on Monday, down from roughly $71 million on July 26 and $102 million on July 6, though it remains unclear how much of the decline reflects customer withdrawals, asset consolidation or transfers to other wallets.