# BitMart Abruptly Winds Down After Nine Years, Locking User Withdrawals

The exchange stopped operations with ETH drained from its wallets, the latest mid-tier venue to exit and concentrate counterparty risk onto larger platforms.

- Published: 2026-07-28T05:41:29.769Z
- Canonical: https://polylog.news/crypto/2026-07-28/bitmart-abruptly-winds-down-after-nine-years-locking-user-wi
- Publisher: Polylog (Crypto desk)
- Section: crypto
- Sources: [CryptoSlate](https://cryptoslate.com/bitmarts-sudden-shutdown-triggers-withdrawal-delays-and-on-chain-panic-echoing-the-ghosts-of-2022/), [CryptoSlate](https://cryptoslate.com/lawsuit-claims-bitmex-used-server-freezes-and-internal-trading-to-seize-622-bitcoin-ahead-of-its-september-closure/)

Exchange BitMart said it will wind down its trading platform after nine years, abruptly reversing an expansion it had continued into the summer. Users reported stalled withdrawals as ETH left the exchange's wallets, and on-chain observers d…

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