BitMart announced a wind‑down of its operations and said withdrawals may be delayed, with reports of slowed withdrawal activity emerging after the announcement.

The exchange disclosed on Sunday that it would stop new registrations, deposits and spot or futures trading, with trading ending on August 26 and full cessation expected by January 31 2027. It warned that withdrawal requests could face additional compliance and identity checks.

Blockchain analytics firm Lookonchain reported that only 58 wallets withdrew about $805,000 in the previous 24 hours and that no withdrawals were recorded in the most recent eight‑hour window it monitored. Social media users described difficulties, including an alleged email confirming a USDT withdrawal while the transaction remained frozen on‑chain, and a $30 test withdrawal pending for more than 30 minutes. BitMart’s token BMX fell about 81.5 % in the past week, trading near $0.057, down from roughly $0.31 five days earlier.

Arkham identified BitMart‑linked wallets holding about $69 million in crypto assets on Monday, down from $102 million on July 6. Binance co‑founder Changpeng Zhao noted that acquiring a centralized exchange is complicated because of potential security vulnerabilities, though he said acquisitions remain possible with greater scrutiny. Cointelegraph did not receive a comment from BitMart before publication.

The exchange’s ability to process withdrawals smoothly will determine whether recent concerns translate into a broader exodus of users.