Hamburg, Germany, August 3, 2026, Chainwire

SCANDIC COIN (SNC) is again urging cryptocurrency exchange BitMart to process three outstanding withdrawals from an approved institutional account without delay, or to provide a full written, transaction-specific explanation for why they have not been executed. BitMart, which has served as a global digital-asset trading venue, announced the closure of its platform while maintaining that withdrawal services would remain available — a wind-down scenario that has drawn scrutiny in the cryptocurrency industry, where past exchange shutdowns have been accompanied by frozen or delayed customer withdrawals.

Four PDF documents captured on August 3, 2026, from the BitMart account interface provide the underlying transaction data:

1:

2:

3:

4:

The documents show the details of the pending withdrawals. A fourth page confirms that BitMart approved the institutional verification of the operating company, which SCANDIC COIN says means the withdrawals should not fail any KYC, KYB, or AML checks.

BitMart's own records show three unprocessed withdrawals

The detail pages were saved on August 3, 2026, between 07:15:28 and 07:20:09. All three withdrawals are shown on the ETH network:

Transaction 31942705 – USDT, ETH network; created on July 26, 2026, at 08:54:11; amount shown 21,898.086448 USDT; fee shown 3.1; no completion date; 0 out of 12 confirmations; status 'Processing'; TXID 'No Record'.

Transaction 31943017 – SNC, ETH network; created on July 26, 2026, at 09:07:20; amount shown 926,634.6 SNC; fee shown 18; no completion date; 0 out of 12 confirmations; status 'Processing'; TXID "No Record".

Transaction 31944747 – USDT, ETH network; created on July 26, 2026, at 10:14:45; amount shown 255.704753 USDT; fee shown 3.1; no completion date; 0 out of 12 confirmations; status 'Processing'; TXID "No Record".

The two USDT records together total 22,153.791201 USDT. USDT (Tether) is the largest stablecoin by market capitalization and widely used as a settlement and liquidity instrument across cryptocurrency exchanges. In addition, the account shows 926,634.6 SNC. At the time of the backup, none of the three detail pages showed a completion date or a blockchain transaction ID, and all remained at 0 out of 12 network confirmations — meaning no on-chain transfer had been broadcast on Ethereum. Based on the creation and backup times visible in the PDFs, the withdrawal orders had been pending for nearly eight days.

A smaller SNC withdrawal is shown as completed

The "Recent Withdrawals" overview visible on the same BitMart pages also lists transaction 31944807 for 4,332.39 SNC. That withdrawal is shown as completed on July 27, 2026, at 11:40:33, with 12 out of 12 confirmations and the status 'Succeed'.

SCANDIC COIN says this does not explain why the three larger withdrawals remain unprocessed. It does, however, show that BitMart recorded at least one other SNC withdrawal as successfully completed during the relevant period. The company says this is why a specific explanation is needed for why transactions 31942705, 31943017, and 31944747 were handled differently and had still not been assigned a TXID by August 3.

Institutional verification had been approved by BitMart

A fourth BitMart page, archived on August 3, 2026, at 07:23:24, explicitly confirms approved institutional verification. BitMart lists higher deposit and withdrawal limits, the ability to create up to 50 sub-accounts, and uninterrupted VIP customer service as benefits of institutional status.

SCANDIC COIN says the assets were funded by the operating company through a bank transfer from its German business account to BitMart and are economically attributable to the company. According to the company, they are neither open trading positions nor assets that belong economically to BitMart.

The company adds that approved institutional verification excludes a lawful, transaction-related review under anti-money laundering, sanctions, security, or risk regulations, so a general reference to compliance would not answer the specific facts shown on BitMart's own platform.

Public explanation had already been requested on July 28

SCANDIC COIN says the issue was not first made public on August 3. It states that as early as July 27, 2026, it publicly documented the outstanding withdrawals and requested an immediate explanation from BitMart, and that no response has been provided.

The company also points to prior coverage in English and Chinese:

English:

Chinese:

According to SCANDIC COIN, the requests called for either the immediate release of the assets or a detailed written explanation giving the specific legal, compliance, technical, or security-related reason, as well as a binding completion date. By July 28, BitMart had been publicly asked why the withdrawal had not been completed, when the assets would be released, and whether the platform still had the operational and financial capacity to satisfy legitimate withdrawal requests in full.

As of August 3, 2026, SCANDIC COIN says BitMart still had not provided a case-specific explanation. Several days after the public request, BitMart's own pages continued to show the three transactions at 0 out of 12 confirmations, with no completion date and no TXID. The company says the lack of a specific response is therefore a key part of the documented sequence of events.

Questions raised over BitMart's closure process

BitMart has described the closure of its trading platform as an orderly, transparent, and responsible process, and said withdrawal services would remain available. SCANDIC COIN says that claim should be measured against how the withdrawals have been handled in practice. During exchange wind-downs, the timely processing of withdrawal requests is typically viewed as a critical test of whether customer assets remain accessible and properly segregated.

The company argues that an orderly closure would require a verified institutional client to receive a concrete, comprehensible, and verifiable explanation in a timely manner if withdrawals are delayed for an exceptionally long period.

SCANDIC COIN says that if three identified withdrawals totaling 22,153.791201 USDT and 926,634.6 SNC remain without a TXID after nearly eight days, and if a public explanation requested on July 28 has still not been provided by August 3, then the process may not be a normal and orderly cessation of business operations. The company says this does not prove insolvency or unlawful misappropriation of assets, but it does create substantial, objectively verifiable doubts about whether BitMart's announced orderly and transparent wind-down is being implemented in this case.

SCANDIC COIN's demands

SCANDIC COIN is calling on BitMart to immediately:

• execute transactions 31942705, 31943017, and 31944747;
• provide the full TXID for each blockchain transaction executed;
• explain precisely why no blockchain transaction has been generated to date, if that remains the case;
• confirm in writing whether the assets represented by the three withdrawal records are fully available to the operating company of SNC SCANDIC COIN;
• explain why the smaller SNC transaction 31944807 is shown as successfully completed while the three larger withdrawals remain at 0 out of 12 confirmations;
• explain why the statement requested publicly on July 28, 2026, had not been provided by August 3, 2026, and specify a binding completion date.

Statement from the operating company of SNC SCANDIC COIN

"An orderly winding-up, such as the one BitMart grandly and publicly described as 'orderly', must also be orderly in practice." SCANDIC COIN says it had already publicly and unequivocally called on BitMart to provide a specific explanation on July 28, 2026. As of August 3, 2026, it says BitMart has provided neither the TXIDs nor a satisfactory, transaction-specific explanation.

The company says BitMart's own pages show three exact transaction numbers, exact amounts, exact creation times, 0 out of 12 confirmations, the status 'Processing', and no TXID. It says the same overview shows a smaller SNC payout as successful, while the three larger transactions remain outstanding.

"An orderly winding-up of business operations must also be orderly, transparent and verifiable in practice. Nearly eight days without any blockchain transactions and several days without a response to a public request could strongly suggest that this can no longer be described as a normal settlement process. We demand not speculation, but verifiable facts and the immediate release of our own assets; anything else would constitute deliberate embezzlement and theft. Should this be the case, a criminal complaint would be filed, accompanied by a public media appeal and the publication in the media of photographs of the responsible operators of BitMart."

SCANDIC COIN / SNC: Office@ScandicCoin.dev

Lina Brugger Office@ScandicCoin.dev

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