Overview
- BitMart disclosed on Friday that it is developing a potential restructuring plan that may include phased resumption of some services and distributions to creditors and promised a further roadmap update by Sept. 9.
- The exchange formally appointed global law firm White & Case to advise on restructuring options and to help build the roadmap rather than filing for bankruptcy or opening a court-administered claims process at this time.
- Public operational deadlines remain active with trading set to end on Aug. 26 at 01:00 UTC and the platform scheduled to close on Jan. 31, 2027, and withdrawals continue to face delays from identity, sanctions and wallet checks.
- BitMart has not released audited balance sheets, reserve reports, liability totals, creditor eligibility rules or a claims portal, leaving independent assessment of recoveries and which parties count as ‘creditors’ impossible.
- Market and user fallout is acute: the BMX token has plunged about 80% in a month, customers are organizing legal pressure and frustration over access to funds is mounting with unclear short-term relief for affected users.