Cryptocurrency exchange BitMart said on Sunday it will shutter its trading platform, bringing to an end nine years of operations. Its exchange token BMX dropped by nearly 60% following the announcement.
It’s the second crypto exchange to announce closure this week after the perpetuals trading powerhouse BitMEX said Thursday it would shut down after 11 years.
The exchange stopped accepting new registrations, deposits and new trading orders from 01:30 UTC on Sunday, it said, with futures accounts moving to reduce-only mode.
All trading, spot and derivatives, ends on Aug. 26, and the platform formally ceases operations on Jan. 31, 2027.
Withdrawals stay open throughout, though BitMart urged users to complete identity checks, close positions, and submit withdrawal requests before the August cutoff.
The company attributed the decision to “operating conditions, market environment, and future strategic direction,” offering no further detail on which of those factors led to the closure.
Meanwhile, the withdrawal terms carry more friction than a routine exit. BitMart said requests may face additional review covering identity verification, device and IP checks, withdrawal-address screening, source-of-funds questions and sanctions checks and warned that processing could stretch if request volumes spike.
Important Notice
After a careful evaluation of the Company’s operating conditions, market environment, and future strategic direction, BitMart has made the difficult decision to commence an orderly wind-down of its trading platform operations. We deeply regret having to make… pic.twitter.com/KX3zczIrAh
— BitMart (@BitMartExchange) July 26, 2026
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