BitMart said it will begin an “orderly wind-down” of its trading platform operations, with all spot, futures, and other trading services scheduled to end on August 26, 2026, and the platform set to cease operations on January 31, 2027.

The exchange said the decision followed “a careful evaluation of the Company's operating conditions, market environment, and future strategic direction.” The announcement came within days of BitMEX saying it would shut down operations after a strategic review.

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

The exchange’s official notice is available at BitMart’s support page.

Trading Services to Be Phased Out

BitMart said new user registrations, deposits, and new trading orders began to be suspended on July 26, 2026, at 01:30 UTC. At the same time, futures accounts were placed in reduce-only mode, preventing users from opening new positions.

Spot trading stopped accepting new orders, while copy trading, grid trading, API trading, and other automated trading services are being phased out. BitMart said users must cancel open orders themselves, or the system will remove them.

The exchange said it will discontinue all spot, futures, and other trading services on August 26, 2026, at 01:00 UTC. Any futures positions still open at that time may be settled by the platform using the applicable mark price, index price, or settlement rules then in effect.

BitMart Earn, staking, lending, Launchpad, and other investment products will also be discontinued in phases under separate product schedules.

The company plans to officially cease platform operations on January 31, 2027, at 15:59 UTC. After that date, users will still be able to access their accounts for a limited period to review records and request withdrawals. The staged timeline gives users about one month from the announcement to the end of trading services, followed by roughly five additional months before the stated platform shutdown date.

Users Told to Close Positions and Withdraw Assets

BitMart said withdrawal services will remain available throughout the wind-down process. The exchange urged customers to complete identity verification, close all trading positions before August 26, redeem assets from staking and lending products, download account records, and submit withdrawal requests as early as possible.

The company warned that withdrawals may be subject to additional compliance checks. These may include KYC verification, login device and IP reviews, blockchain risk analysis, source-of-funds verification, Travel Rule compliance, sanctions screening, and requests for supporting documents when needed. Because those checks can require account reviews or supporting documents, users with incomplete verification or unusual account activity may face additional steps before assets can be withdrawn.

BitMart also cautioned users to beware of scammers claiming to offer priority withdrawals or expedited processing. The exchange said it will never request passwords, private keys, recovery phrases, or fees through Telegram, WhatsApp, WeChat, or private social media accounts.

Shutdown Follows Earlier Operational and Regulatory Issues

The wind-down follows several years of operational and regulatory challenges for BitMart.

— MASTR (@MastrXYZ) July 26, 2026

https://x.com/MastrXYZ/status/2081272864498491398?ref_src=twsrc%5Etfw

In December 2021, BitMart suffered one of the largest exchange hacks in the crypto sector when attackers compromised two hot wallets on Ethereum and BNB Chain. Estimates of the stolen assets ranged from roughly $196 million to more than $225 million, depending on the blockchain analysis firm.

Founder Sheldon Xia said at the time that the company would compensate affected users, although some customers later reported lengthy delays and unresolved claims.

In 2022, the exchange also became the subject of a civil investigation by the U.S. Federal Trade Commission. The investigation examined issues including security practices, customer service, account access, marketing claims, and token listings.

The BitMart announcement follows BitMEX’s separate decision to shut down operations after a strategic review, as reported by Reuters. The two closures come during a weaker market cycle marked by lower trading activity, tighter competition among exchanges, and more cautious investor behavior. The shutdowns do not by themselves establish that the industry is in a bubble, but they underline the pressure on smaller and mid-sized centralized exchanges as liquidity concentrates on a smaller group of dominant platforms.