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FinanceBitMart shuts down, trading to cease on August 26
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BitMart, a long-standing cryptocurrency exchange, announced its shutdown on July 26, 2026, citing market conditions and strategic direction. The closure is phased: new registrations and deposits stopped immediately; spot and futures trading will cease on August 26, 2026, at 01:00 UTC; and the platform will fully cease operations by January 31, 2027. Users must complete identity verification, close all positions, and withdraw funds before the August 26 deadline to avoid delays. The article also notes that BitMEX, another major exchange, announced its own shutdown on July 23, 2026, set for September 23, 2026. BitMart warns of elevated scam risks during the wind-down period, advising users to only use official channels.
Source report
Bibhu Pattnaik Tue, July 28, 2026 at 6:30 AM PDT 2 min read
BitMart, one of the older surviving cryptocurrency exchanges, is shutting down. The platform published an official notice on July 26, confirming it has made the decision to wind down all trading operations, citing market conditions and strategic direction as the reasons behind the closure.
The closure is not immediate, but the deadlines are closer than most users will expect, and missing them carries real risk.
Related: Another crypto business announces shutdown, asks users to withdraw funds
What Is Happening and When
The shutdown has already begun. As of July 26 at 01:30 UTC, BitMart stopped accepting new user registrations and suspended all deposit services. The platform has warned that deposits made after suspension may not be credited, and users should not send any assets to a BitMart wallet address.
- Spot trading has stopped accepting new orders.
- Futures accounts have entered Reduce-Only mode — existing positions can be closed, but no new ones can be opened.
- Copy trading, grid trading, and all automated services are being discontinued in phases.
Key Deadlines
| Event | Date & Time (UTC) | |---|---| | Hard trading deadline | Aug. 26, 2026 at 01:00 UTC | | Final platform closure | Jan. 31, 2027 at 15:59 UTC |
All spot and futures trading stops on Aug. 26 at 01:00 UTC. Any futures positions still open at that time will be settled by the platform at the applicable mark price.
BitMart's Closure Is Not Happening in Isolation
BitMEX, the exchange that invented the 100x leverage perpetual swap and ran for over 11 years, announced on July 23 that it will permanently shut down on Sep. 23, 2026 at 04:00 UTC.
The platform now accounts for less than 0.01% of the crypto exchange market and records around $400,000 in daily trading volume. BitMEX's founders — Arthur Hayes, Ben Delo, and Samuel Reed — pleaded guilty to Bank Secrecy Act violations in 2022.
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What You Need to Do Right Now
BitMart has been clear about the recommended timeline:
- Complete identity verification and close all trading positions before Aug. 26 at 01:00 UTC.
- Submit withdrawal requests before Aug. 26 at 05:00 UTC.
Users who miss this window will be transferred to a separate processing procedure with no guaranteed timeline.
Before Withdrawing
- Cancel all open orders
- Redeem any Earn, staking, or lending products
- Download your full account history, including transaction records, deposit history, and withdrawal history — while you still have access
Beware of Scams
BitMart has flagged an elevated scam risk during the wind-down period. The exchange will never contact users through Telegram, WhatsApp, or WeChat asking for fees to expedite withdrawals.
There are no priority processing channels. Anyone claiming otherwise is running a scam.
Use only the official Help Center at bitmart.zendesk.com for support.
Source
Yahoo FinanceWestern
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