BitMart Exchange Shuts Down As CEO Learns The News Online

Crypto exchange BitMart has officially started winding down its platform. The company suspended new registrations, deposits, and orders ahead of a complete trading halt scheduled for August 26. All spot and futures trading will end at that time, and the platform will close entirely on January 31, 2027. Users are strongly advised to close positions and withdraw their funds immediately.

Adding to the shock, BitMart Global CEO Nenter Chow stated on social media that he learned about the closure at the same time as the general public. He noted that the company terminated his employment on July 24 and that he had no say in the shutdown decision. The exchange token, BMX, crashed over 80 percent following the announcement to trade around $0.054.

This sudden wind down follows a recent first half report where the exchange claimed strong asset growth and plans for global expansion. Traders should act fast to secure their funds before the final deadlines. The situation highlights ongoing shifts and closures across the centralized exchange sector.