On-Chain Alarm at BitMart During Shutdown Process: Not a Single Withdrawal in the Last 8 Hours
Despite official statements from cryptocurrency exchange BitMart regarding its shutdown process, on-chain data shows that withdrawal transactions have completely stopped for the last 8 hours, issuing a serious risk warning for users.
Popular cryptocurrency exchange BitMart announced in recent days that it would gradually terminate its operations and completely shut down the platform. While exchange management committed to keeping transactions open so users could withdraw their assets, current movements on the blockchain reveal an alarming picture that contradicts this promise. Although transactions were planned to be spread out until 2027 according to the official schedule, the sudden halt in withdrawal channels has plunged investors into significant uncertainty.
According to data shared by the on-chain data analysis platform Lookonchain, BitMart has not processed even a single withdrawal transaction in the last 8 hours. Examining the data for the last 24 hours, it appears that only 58 different wallets were able to withdraw assets worth approximately $805,000 in total. In the shared visual data, it is clearly visible that transfers from the exchange’s hot wallets to platforms like Binance, OKX, and Coinbase were cut off hours ago, and outflow traffic has completely stopped.
Risk of Locked Funds for BitMart Users
Despite the “withdrawal transactions will remain open” statement in the official announcement, this silence in the on-chain data reinforces the possibility that user funds may currently be locked. The cessation of outgoing transfers from the exchange’s hot wallets is considered a strong signal that the platform is experiencing a serious liquidity issue or an operational crisis. This situation triggers a process requiring immediate action for investors who have acted based on the exchange’s shutdown schedule.
Users with assets on BitMart need to closely monitor the situation and create withdrawal requests without delay. This major discrepancy between the exchange’s official statement and the actual situation has once again brought concerns about the “safety of funds” to a peak in the cryptocurrency world. It is vital for users to try every method to withdraw their assets from the exchange and be prepared for a potential total lockdown.