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BitMart faces insolvency claims as users report frozen withdrawals amid exchange wind-down.

Market News
10 Aug 2026
Crypto news
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Bearish
BitMart faces insolvency claims as users report frozen withdrawals amid exchange wind-down.

BitMart is under scrutiny after a co-founder of OpenGradient claimed his market-making team cannot withdraw funds locked on the exchange, raising insolvency concerns. BitMart is winding down operations but insists withdrawals remain available, though they may be delayed due to security checks. The exchange's founder denied misuse of customer funds but has yet to publish a full proof-of-reserves report, leaving questions about its liquidity and solvency. Users, especially in the US, face additional withdrawal restrictions as BitMart phases out trading services by early 2027.

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