BitMart withdrawals slow after wind-down announcement as exchange plans full shutdown by Jan. 31, 2027

BitMart said withdrawals remain open after announcing it will wind down operations, but on-chain activity and user reports suggest the process is already slowing. For high-risk PSPs, this is the part that matters: once a platform starts restricting exits, compliance checks and liquidity pressure tend to become the real story, not the press release.

1. On Monday, blockchain analytics account Lookonchain reported that only 58 wallets withdrew about $805,000 in over 24 hours, and that BitMart had not processed any withdrawals during the latest eight-hour period it tracked.
2. X users continued to report withdrawal problems. One user said they received an email saying a USDT withdrawal had been completed even though the transaction had not been processed and their account showed an “on-chain withdrawal freeze.” Another user said a $30 test withdrawal stayed pending for more than 30 minutes. These were individual claims and could not be verified.
3. BitMart had already said withdrawals were still available, but warned that requests could face additional compliance and security checks. Those checks may include reviews of customer identities, login devices, withdrawal addresses, trading histories and sources of funds. The exchange may also ask for proof of identity, address, source of funds or ownership of the receiving wallet.
4. On Sunday, BitMart said it would stop accepting new registrations and deposits while restricting new spot orders and futures positions. Trading services are scheduled to end on Aug. 26, and the platform is expected to cease operations entirely on Jan. 31, 2027.
5. Arkham-identified wallets attributed to BitMart held about $69 million in crypto assets on Monday, down from roughly $102 million on July 6. BitMart’s BMX token traded near $0.057 on Monday and had fallen about 81.5% over seven days, according to CoinGecko; it was around $0.31 late Friday before the shutdown became public.

The operational question here is straightforward: can BitMart return customer funds smoothly while it is still asking for more compliance and security checks? If that process starts to break down, the usual “orderly wind-down” language can turn into a broader run for the exits pretty quickly.