London, United Kingdom, July 27, 2026, Chainwire — SCANDIC COIN (SNC) has demanded an immediate explanation from BitMart after a withdrawal request submitted on July 26, 2026, at 09:10:03 German time remained marked as “Processing” for more than 35 hours.

According to SNC, as of publication, 22,000 USDT and nearly 930,000 SNC had not arrived in the designated wallets. SCANDIC COIN said timestamped screenshots document the relevant balances, withdrawal request, amounts, date, time and the continuing processing status.

SCANDIC COIN said the assets are not the property of BitMart. According to the company, the funds belong exclusively to its operating company, are not BitMart funds and are not locked in active trading positions.

BitMart has announced the wind-down of its trading-platform operations. In that context, SCANDIC COIN said a prolonged failure to release substantial company-owned assets, without a case-specific reason or reliable deadline, is unacceptable. The company said an exchange that instructs users to withdraw must demonstrate that withdrawals can actually be honoured.

Withdrawal delays can occur for operational, technical, security or compliance-review reasons, but SNC said BitMart has not provided a satisfactory case-specific explanation or completion timeline. During an exchange wind-down, clear communication around withdrawal processing is especially important because users are being directed to move assets off the platform.

SCANDIC COIN said the key question is whether the delay is technical or compliance-related, or whether BitMart lacks sufficient liquidity, financial resources or operational capacity to honour withdrawals promptly and in full.

SCANDIC COIN said it is not asserting insolvency as a proven fact. However, after more than 35 hours without payment or a satisfactory explanation, the company said BitMart must immediately dispel that concern with verifiable facts.

SCANDIC COIN said BitMart must answer the following questions immediately:

• Why is the withdrawal still marked “Processing”?
• Is a compliance, security or risk review pending, and are further documents required?
• When exactly will the 22,000 USDT and nearly 930,000 SNC be released?
• Does BitMart have sufficient liquid assets to honour all legitimate withdrawals in full?

Immediate Release or Escalation

SCANDIC COIN demanded the immediate release of the assets or a detailed written explanation identifying the precise legal, compliance, technical or security reason for the delay, along with a binding completion time.

The company said that if BitMart fails to act, SNC will preserve the screenshots and account records and pursue all available legal and regulatory remedies.

Contact: Lina Brugger, Office@ScandicCoin.dev