BitMart announced the definitive closure of its platform: trading will cease on August 26 at 01:00 UTC, and operations will completely shut down on January 31, 2027 at 15:59 UTC. The exchange’s roughly 10 million users have a six-month window to withdraw their funds, with enhanced compliance controls. The native BMX token plummeted nearly 60% within 24 hours of the announcement. Nenter Chow, Global CEO of the platform, claims he was fired two days before the announcement was published, without being consulted. Founded in 2017 by Sheldon Xia, BitMart had survived a $196 million hack in 2021.
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