Centralized cryptocurrency exchange BitMart said it has decided to gradually shut down its trading platform after reviewing operating conditions, the broader market environment, and its future strategy. The decision represents another notable development in the centralized exchange sector following the closure of BitMEX, underscoring how exchange operators continue to reassess business lines as market conditions and operating requirements change.

Under the timetable shared by BitMart, new user registrations, deposits, and new buy and sell orders were halted as of July 26, 2026, at 04:30. The exchange plans to end all trading services on August 26, 2026, at 04:00. The platform is officially scheduled to close on January 31, 2027, at 18:59. For users, the phased timeline makes the announced cutoff dates the key operational details to follow as services are wound down.

BitMart became particularly popular among altcoin investors in 2021 and at one point ranked among the world's top 10 cryptocurrency exchanges by daily trading volume. In the same year, investment firms including Fenbushi Capital and Hack VC invested in BitMart at a valuation of approximately $300 million.

At the end of 2021, however, BitMart suffered a major security breach in which approximately $200 million worth of crypto assets were stolen. After the attack, it was claimed that the company faced various operational and financial difficulties.

The shutdown announcement also placed selling pressure on BitMart's native token, BMX. BMX fell by approximately 63% over the past 24 hours.