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BitMart Announces Full Shutdown by January 31, 2027; CEO Fired Without Prior Notice

Exchange Risk Price Volatility Token Events Enforcement Actions

2026-07-27 08:12:10

BitMart announced on Sunday (July 26) that it will cease all operations by January 31, 2027, with trading ending on August 26, 2026. New registrations and deposits were suspended immediately. Global CEO Nathan Chow revealed he was terminated on July 24 without prior knowledge of the wind-down decision.

BMX token collapsed 81.5% in seven days following the announcement, falling from $0.31 to approximately $0.057. According to Lookonchain, only 58 wallets withdrew approximately $805,000 in the first 24 hours, with users reporting withdrawal delays and additional security checks including identity verification and trading history reviews. Exchange wallets held approximately $69 million in crypto assets as of Monday, down from $102 million on July 6.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

Related News

BitMart Announces Orderly Halt of All Trading Services Effective August 26

BitMart to Shut Down Operations by January 2027, BMX Token Crashes 58% in 24 Hours

BitMart Begins Shutdown on July 26, Halts Trading Services by Aug. 26, 2026

BitMart to Halt Trading on Aug. 26 After CEO Terminated, BMX Token Falls 60%

In-Depth Analysis

BitMart abruptly announced that it would stop trading on Aug. 26, and its CEO said he only found out about the news after the announcement was released.

Market Whisper9h ago

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