BitMart is exploring a restructuring plan with law firm White & Case that could enable a phased resumption of some services, after announcing a full wind-down of its operations last month. The exchange must nonetheless shut down spot, futures and other trading services on Aug. 26 at 01:00 UTC, while strongly urging users to submit withdrawal requests before 05:00 UTC that day. Customers continue to report difficulties withdrawing their funds, with no clear repayment framework or recovery estimate available, while blockchain investigator ZachXBT has questioned why the exchange is not simply returning assets if it has sufficient liquidity. CEO Sheldon Lee has rejected broader accusations against the exchange as « fabricated rumors, » but BitMart has provided no concrete timeline for resolving outstanding withdrawals.
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