In an announcement published on July 26, cryptocurrency exchange BitMart said it had decided to begin winding down its trading platform after reviewing the company’s operating conditions, market environment and future strategic direction.
The decision makes BitMart the third centralised cryptocurrency exchange to announce or implement a shutdown in July 2026, following AscendEX and BitMEX.
BitMart Stops Accepting New Orders and Deposits
Beginning at 01:30 UTC on July 26, BitMart started gradually suspending new account registrations and cryptocurrency and fiat deposits.
Futures accounts have been placed into reduce-only mode, meaning users can reduce or close existing positions but cannot open new ones. The exchange has also stopped accepting new spot orders and is gradually discontinuing copy trading, grid trading, API trading and other automated services.
Users must cancel their outstanding orders themselves or wait for the platform to cancel them automatically.
Trading Will End on August 26
BitMart will discontinue all spot, futures and other trading services at 01:00 UTC on August 26, 2026. Futures positions that remain open at that time may be settled by the exchange using the applicable mark price, index price or settlement rules.
BitMart Earn, staking, lending, Launchpad and other products will also be discontinued in phases. The exchange said affected users would receive separate instructions regarding redemption and settlement procedures.
Users Are Urged to Withdraw Their Assets
Withdrawals remain available, but BitMart has urged users to complete or update identity verification, cancel outstanding orders, close open positions and redeem funds from investment products as soon as possible.
The exchange recommends closing all trading positions before 01:00 UTC on August 26 and submitting withdrawal requests before 05:00 UTC on the same day.
Withdrawal requests may be subject to identity checks, sanctions screening, Travel Rule requirements, source-of-funds reviews and other compliance procedures. BitMart warned that processing could take longer because of increased demand, blockchain congestion or requests for additional documentation.
The submission of a withdrawal request does not mean that the compliance review has been completed or that the transaction has already been sent to the blockchain.
Platform Operations Will End in January 2027
BitMart plans to cease trading platform operations at 15:59 UTC on January 31, 2027.
After that date, users are expected to retain account access for a limited period to review transaction history and submit withdrawal requests under the procedures in effect at the time.
BitMart Follows AscendEX and BitMEX
AscendEX ceased operations on July 1, citing regulatory developments, including the European Union’s Markets in Crypto-Assets framework, as well as broader financial and operational considerations.
BitMEX announced later in July that its exchange would close on September 23 following a strategic review of the business and the broader cryptocurrency industry.
BitMart’s announcement therefore marks another major centralised exchange exit during a period of increased regulatory pressure and difficult market conditions.
BitMart’s 2021 Security Breach
BitMart was established in 2017 and expanded rapidly during the previous cryptocurrency market cycle.
In December 2021, the exchange suffered a security breach involving an Ethereum hot wallet and a BNB Smart Chain hot wallet. BitMart officially estimated the value of the withdrawn assets at approximately $150 million and said it would use its own funds to compensate affected users.
BMX Token Falls After Shutdown Announcement
CoinGecko data showed that BitMart continued to process approximately $1.7 billion in 24-hour trading volume following the announcement. However, it cannot be independently confirmed how much of that activity was directly related to users closing positions and withdrawing funds.
BitMart’s BMX token reacted sharply to the news. At the time of the original CoinGecko screenshot, BMX was down by approximately 45% over 24 hours. The decline deepened later on July 26, with CoinGecko showing a drop of roughly 65% at the time of verification.
Conclusion: BitMart’s shutdown adds to the pressure facing centralised crypto exchanges as regulatory, operational and market challenges intensify. Users should close positions and withdraw assets before the stated deadlines, while BMX remains exposed to severe volatility and declining confidence in the platform.
Compare Other Cryptocurrency Exchanges
BitMart’s planned shutdown highlights the importance of reviewing an exchange’s security, fees, liquidity, regulatory status and withdrawal conditions before depositing funds. Users looking for alternative platforms can compare cryptocurrency exchanges in the FORECK.INFO crypto exchange rating, which includes platform reviews, trading conditions and user feedback. The inclusion of an exchange in the rating does not constitute an endorsement or guarantee of its reliability. Platform availability, products and regulatory status may vary depending on the user’s jurisdiction.
