BitMart is facing increasing scrutiny as users continue to report delayed and restricted withdrawals following the exchange’s decision to wind down operations.
A group of users and employees is demanding that BitMart disclose its proof of reserves, explain the reported withdrawal restrictions, and provide a clear repayment plan by August 19.
BitMart CEO Sheldon Lee has dismissed allegations circulating online as fabricated, while the exchange has yet to publish the full proof-of-reserves report it previously indicated would be released.
Trading on BitMart is currently scheduled to end on August 26, 2026.
The exchange has not announced bankruptcy or insolvency proceedings, but uncertainty surrounding withdrawals and the lack of independently verified reserve information continues to raise concerns among users.
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