BitMart has announced an orderly wind-down of its trading platform operations, suspending new registrations, deposits, and new trading orders from July 26 at 1:30 a.m. UTC.

The exchange said spot and futures trading will end entirely by August 26, 2026, while full platform operations are scheduled to close on January 31, 2027. The announcement came only days after BitMEX disclosed its own planned exchange shutdown on July 23, 2026, giving users on both platforms fixed windows to manage positions, complete verification, and withdraw assets before final deadlines.

BitMart Cites Operating Conditions and Market Environment

BitMart, which launched in 2018, once ranked among the top 10 crypto exchanges by trading volume and built a global user base across multiple countries and regions. In 2021, hackers stole roughly $200 million from the platform in one of the industry’s larger exchange breaches. BitMart later recovered and continued operating for years.

In an official notice, BitMart said the decision followed an internal assessment of its business and market outlook. The company cited its operating conditions, the market environment, and its future strategic direction, saying continued trading operations no longer aligned with that direction.

BitMart did not attribute the closure to a specific incident or regulatory action. Executives described the move as difficult but necessary for the platform’s future path.

The announcement was followed by a steep decline in BitMart’s native token, BMX. The token dropped 63% to trade around $0.17 after the news, as traders pulled funds and reassessed exposure to the exchange. The reaction highlighted how exchange-linked tokens can be affected when the underlying platform changes its operating plans.

Important Notice

After a careful evaluation of the Company's operating conditions, market environment, and future strategic direction, BitMart has made the difficult decision to commence an orderly wind-down of its trading platform operations. We deeply regret having to make… pic.twitter.com/KX3zczIrAh

— BitMart (@BitMartExchange) July 26, 2026

https://x.com/BitMartExchange/status/2081197305491845201?ref_src=twsrc%5Etfw

Withdrawal Rules and Key Deadlines

BitMart said withdrawal services will remain available throughout the wind-down period. The exchange urged users to complete identity verification and close open positions as early as possible.

Futures accounts will move into reduce-only mode, preventing users from opening new positions. Spot trading will also stop accepting new orders during the wind-down phase. Those limits make the August trading cutoff a practical deadline for users who still need to manage open exposure rather than only withdraw balances.

The exchange recommended that users submit withdrawal requests before August 26 at 5:00 a.m. UTC. It said some withdrawals may be subject to additional reviews related to compliance and security procedures.

BitMart listed identity verification, address screening, and sanctions checks as possible review steps. Processing times may also be affected by blockchain congestion and the volume of withdrawal requests.

The company warned users about increased scam risks during the closure process. BitMart said it will never request passwords, recovery phrases, or verification codes, and stated that there are no paid priority withdrawal options. Users were instructed to rely only on official channels for updates.

BitMEX Also Plans to End Exchange Operations

BitMart’s announcement follows a separate exit plan from BitMEX. According to an earlier report by the LiveBitcoinNews team, BitMEX will end all exchange operations on September 23, 2026, at 4:00 a.m. UTC. The platform operated for more than 11 years as one of the crypto industry’s early derivatives venues.

HDR Global Trading Limited, BitMEX’s parent company, cited a strategic business review as the reason for the decision. BitMEX stopped accepting new registrations immediately after the announcement.

Existing BitMEX users can continue trading until restrictions begin on August 26. After that date, traders will only be able to reduce positions and will not be permitted to open new ones. Any contracts that remain open at the time of closure will be settled automatically under existing procedures.

BitMEX said it had recorded zero hack-related customer fund losses throughout its history. The exchange encouraged users to withdraw assets well before the September deadline.

The planned closures of BitMart and BitMEX add to a broader series of centralized exchange exits across the crypto industry, while users continue to evaluate custody and trading options as platforms wind down operations. For affected customers, the key items to watch are official deadline updates, withdrawal processing status, and any additional compliance checks required before assets can be moved off the platforms.