BitMart recorded no Bitcoin, stablecoin or altcoin withdrawals above $25,000 in the 24 hours after announcing plans to wind down its trading platform, according to Onchain Lens.

The reported slowdown followed the exchange's shutdown notice and came as former Global CEO Nenter Chow said he was not told about the decision before it was made public. BitMart has said withdrawals remain available, but warned that compliance and security checks may slow processing during the closure period.

For users, the distinction matters because centralized exchanges typically process customer activity through both internal account records and on-chain transactions. Public blockchain data can show movements from identified exchange wallets, but it does not by itself show every internal balance update or compliance review taking place inside the platform.

On-Chain Data Shows Limited Withdrawals

According to Onchain Lens, blockchain data covering more than 2.5 million BitMart-linked addresses showed no large withdrawals by retail users, market makers or listed projects during the reviewed period. The analytics platform said it found zero withdrawals above $25,000 across Bitcoin, stablecoins and altcoins.

Lookonchain also reported reduced withdrawal activity. Its data showed that only 58 wallets withdrew about $805,000 over the previous 24 hours, while BitMart processed no withdrawals during the most recent eight-hour period tracked by the platform.

Arkham-identified BitMart wallets held about $69 million in crypto assets, according to the same reporting. That amount was down from roughly $102 million recorded on July 6.

Former Global CEO Says He Was Not Consulted

Nenter Chow said his employment as BitMart Global CEO ended on July 24 and that his offboarding began immediately. He said he no longer had a management role after that date.

Chow also said he was not consulted about BitMart's wind-down plans and was not informed of the decision before the public announcement. He urged users to rely only on BitMart's official communications for information about the process.

BitMart previously said withdrawals remain available to users. However, the exchange also stated that withdrawal requests may be subject to additional compliance and security reviews before being processed. During an exchange closure, those official notices are the key source for deadlines, supported assets and any required user actions.

Wind-Down Timeline Attracts Industry Attention

BitMart has announced that it will stop new registrations, deposits and additional trading activity before ending trading services on Aug. 26. The exchange expects to complete the wind-down by Jan. 31, 2027.

The announcement also led to discussion about potential exchange acquisitions. Binance co-founder Changpeng Zhao said acquiring centralized exchanges requires careful review because buyers may inherit security vulnerabilities.

Zhao also said BitMart's process appeared to be an orderly wind-down. He reminded users that self-custody remains an option for those able to securely manage their recovery phrases.