BitMart, a nine-year-old crypto exchange, announced on July 25 its permanent closure with a phased wind-down through January 2027. Users are rushing to withdraw funds at a rate of approximately 300 ETH per hour, the highest level since July 2025 according to CryptoQuant data. The native BMX token crashed 58 to 63 percent within hours of the announcement. Withdrawals are experiencing temporary freezes due to enhanced compliance checks as part of the wind-down process.
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