BitMart halts trading and deposits, following BitMEX’s exchange exit, as BMX price crashes 63% amid full wind-down through Jan. 2027.
BitMart has announced an orderly wind-down of its trading platform operations.
The exchange suspended new registrations, deposits, and new trading orders starting July 26 at 1:30 a.m. UTC. Spot and futures trading will end entirely by August 26, 2026.
Full platform operations will officially close on January 31, 2027. The move follows shutdown announcement by BitMEX made on 23rd July, 2026, just some days earlier..
BitMart Shuts Down After Years Of Market Presence
BitMart launched in 2018 and once ranked among the top 10 exchanges by trading volume. The platform built a global user base across multiple countries and regions.
In 2021, hackers stole roughly $200 million from BitMart in one of the industry’s larger breaches. The exchange recovered and continued operating for years afterward.
In it’s blog announcement, BitMart cited its own evaluation of operating conditions and shifting market dynamics for the decision.
The company said its strategic direction no longer supported continued trading operations. BitMart did not link the closure to any single event or regulatory action.
Executives called the decision difficult but necessary for the platform’s future direction.
News of the closure sent BitMart’s native token, BMX, sharply lower. BMX dropped 63% to trade around $0.17 following the announcement. Traders reacted quickly, pulling funds and reassessing exposure to the exchange.
The token’s decline reflects wider unease among centralized exchange users this year.
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
Withdrawal Rules And Deadlines Users Must Track
BitMart confirmed withdrawal services will remain active throughout the wind-down period. Users are urged to complete identity verification and close open positions early.
Futures accounts will shift into reduce-only mode, blocking any new positions. Spot trading will also stop accepting fresh orders during this phase.
The exchange recommends submitting withdrawal requests before August 26 at 5:00 a.m. UTC. Some withdrawals may face extra review tied to compliance and security checks.
BitMart listed identity verification, address screening, and sanctions checks among possible review steps. Processing times may stretch longer depending on blockchain congestion and request volume.
BitMart warned users about rising scam risks during the closure process.
The company said it will never request passwords, recovery phrases, or verification codes. There are no paid priority withdrawal options, according to the announcement.
Users were told to rely only on official channels for updates.
BitMEX Closure Adds To Wave Of Exchange Exits
BitMart’s announcement arrives shortly after BitMEX revealed its own exit plan.
According to an earlier report by the LiveBitcoinNews team, BitMEX will end all exchange operations on September 23, 2026, at 4:00 a.m. UTC. The platform operated for more than 11 years as one of crypto’s early derivatives venues.
Read more: BitMEX Ends an Era With Planned Exchange Shutdown After 11 Years
HDR Global Trading Limited, BitMEX’s parent company, cited a strategic business review behind the decision.
BitMEX stopped accepting new registrations immediately after its announcement. Existing users can keep trading until restrictions begin on August 26.
After that date, traders may only reduce positions rather than open new ones. Any open contracts left at closure will settle automatically under existing procedures.
BitMEX emphasized that it recorded zero hack-related customer fund losses throughout its history. The exchange encouraged users to withdraw assets well before the September deadline.
Both closures highlight growing pressure on centralized platforms across the industry. Users continue shifting attention toward self-custody options as more exchanges wind down.
The post Another Crypto Exchange Falls: BitMart Follows BitMEX’s Exit Strategy appeared first on Live Bitcoin News.
