Three days later BitMEX informed users that it was to close After eleven years, BitMart has announced the planned shutdown of its trading platform. The notification went live on July 26, 2026 at 01:40 UTC and put a hard watch on every level that remained on the exchange. Two central stations announcing lower wind speeds in the same week is no coincidence – it’s how the central switch looks when the numbers stop working.
What exactly did BitMart announce?
BitMart says the decision follows a review of its operations, market position and future directions. There is no mention of insolvency, hacking or forced action. The term is synonymous with a business that no longer pays for itself.
Closure is not done immediately:
- July 26, 2026, 01:30 UTC – new user registrations stop, all crypto and fiat deposits are stopped, futures accounts are moved to Limit-Only, they stop accepting new orders, and Copy Trading, Grid, API and other automatic functions are turned off in sections. Open orders must be canceled by the user or they will be canceled by the system.
- August 26, 2026, 01:00 UTC – all places, futures and other trading activities are finished. Any futures position that is still open can be settled by the platform on its token, index or fixed price.
- 31 January 2027, 15:59 UTC – the trading platform stops working. Accounts remain accessible for some time afterwards due to history and deletion requests.
Get, StakingLoans and Launchpad are being phased out, with separate redemption notices to follow.
What is the withdrawal deadline?
This is the required phase and it started earlier than the date of January 2027.
BitMart encourages users to fully verify and block all sites before 26 August 2026, 01:00 UTCand submit removal requests before 26 August 2026, 05:00 UTC. Each item is then entered into a separate configuration file with its own written requirements.
Recovery is not automatic. BitMart states that requests may go through a manual review involving KYC verification, login tool and IP checks, check withdrawal addresses, financial review, Travel Law compliance and checks. Sending a request is not exactly the same as broadcasting on-chain. At a slower pace, the light lines last longer – which is an important point to get out of now rather than the last week of August.
Were there warning signs before the announcement?
In retrospect, the week before the notice reads like a check:
- 24 July – BitMart introduced a policy of depositing funds for inactive accounts.
- 25 July – notice of suspension of service for US users, suspension of AMM Bot service, as well as suspension of Spot Margin trading and forced suspension established on 26 July at 02:00 UTC.
- 26 July – full notice to quit.
This result came just nine days after BitMart released an interesting H1 2026 report on July 17, showing asset management AUM of approximately 256%, a new Market Prediction product and an enhanced management system including an Australian financial security certificate secured in June. The same report clearly agreed: Bitcoin down about 33% in half, Ether down 50%, the history of ETF outflows, and cooling books across the top ten in the middle. exchange.
How does this compare to the BitMEX shutdown?
BitMEX announced on July 23rd that HDR Global Trading Limited will close the exchange at 04:00 UTC on September 23rd, 2026, following a good plan. Registration was suspended immediately, discount sales only begin on August 26 at 04:00 UTC, and KYC-verified users who leave arrears face a monthly fee of $50 or 1% per year.
The combination is amazing. All these changes chose 26 August as the day ends well. They both thought the decision was wise rather than disappointing. They all stopped registering on the day they announced it. BitMEX was an eleven-year-old pioneer who created a lasting revolution; BitMart was an eight-year-old altcoin rich and futures site with extensive listings. Very different businesses, the same completion within 72 hours.
Why is the central exchange closing now?
The compression is systematic and not dramatic.
Sales revenue has dropped to zero across the industry. Compliance costs have gone the other way – MiCA in Europe, certification authorities in Asia-Pacific and the Middle East, Travel Rule infrastructure, evidence storage expectations. Liquidity is concentrated in very few places, while traditional platforms have taken over a growing share of derivatives that tend to be on exchanges like BitMEX.
Central exchanges therefore charge large amounts of money followed by exchanges of small amounts, in the half of the year when Bitcoin fell in third place. That’s not a business you plan with another campaign.
Expect more of this. The real effect here is a smaller, larger, more licensed domain – which solves some of the problems and puts the risk of its peers into smaller names.
What should users do right now?
- Log in and view all funds, including Earnings, staking and rental properties.
- Complete or update KYC before the deadline – unverified accounts will face difficulties.
- Cancel open orders and close futures positions instead of allowing them to be forced to settle.
- Use Coins and locks, which have their own time.
- Remove immediately. Verify the network and destination address carefully, and do not send duplicates.
- Download your income, savings, deductions and business history for tax purposes before making the change.
One more thing: BitMart has warned in detail about the scam during the storm. There are no paid withdrawals, no “account withdrawal fees” and no expedited processing. No one from BitMart will ask you for your password, 2FA code, private key or seed password. Any message on Telegram or WhatsApp that wants to speed up getting out of the toll is a scam.
Where can users move their assets?
Long-term products that are not being sold quickly are the ones in their hands, where no exchange rate works for them. For funds that need to remain on the trading floor, the logical filters are now fixed and tight on the sheets instead of prices and list calculations.
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The main lesson of this week is to put it simply: the stock traded on any exchange is what the company wants, not the money you control. Both BitMart and BitMEX appear to be systematically shutting down users’ funds. This is the best version of this sequel. It also means that thousands of people are moving money on someone else’s plan.
