BitMart Shuts Down Trading As BMX Crashes 60 Percent

Crypto exchange BitMart has announced a phased shutdown of its platform, catching the market by surprise. The exchange is currently halting deposits and new orders, and plans to stop all trading activity completely on August 26.

This drastic move comes alongside a brutal market crash for the platform's native token. BMX dropped by roughly 63 percent over a 24 hour period, plunging investor confidence and sparking concerns across the broader digital asset trading community.

Traders using the platform should act fast to withdraw remaining funds before the final deadline arrives. The team at CoinBeat will keep a close eye on this situation to see how user withdrawals are handled in the coming days.