BitMart to Shut Down After Withdrawal Delays, Triggering BMX Token Plunge

Crypto exchange BitMart has announced it will shut down, following earlier closures in the sector, with multiple outlets citing user reports of withdrawal delays and wallet-related freeze notices as activity slowed after the wind-down announcement ^{[1] [2]}.

As BitMart’s wind-down progressed, media reports said the BMX token fell sharply, with one report citing an 81.5% weekly decline and withdrawal issues mounting. Separate coverage also linked the shutdown to a broader shakeout across crypto exchanges, noting BitMart as the second major platform to wind down after BitMEX ^{[3] [4]}.

Other reporting described the shutdown timeline and operational fallout, including claims that roughly $805,000 was withdrawn by a limited number of wallets within the first 24 hours after the announcement and that BitMart’s crypto holdings fell from around $102 million on July 6 to about $69 million ^{[5] [1]}.

BitMart’s closure announcement has triggered immediate user withdrawal frictions and steep declines in its BMX token, with coverage portraying the shutdown as part of a wider contraction among crypto exchanges ^{[2] [4]}.