BitMart Signals Partial Return Weeks After Shutdown: Creditor Payments Under Consideration

Cryptocurrency exchange BitMart is considering gradually restarting some of its services and making payments to creditors weeks after announcing its closure.

BitMart had announced the closure of its platform on July 26, halting new registrations, deposits, and trading orders. Futures accounts were also placed in “reduce-only” mode, allowing only the reduction of existing positions. An announcement dated August 22, as reported by CoinDesk, indicated that a new plan is being considered weeks after the shutdown decision.

The announcement listed a partial restart and creditor payments as potential components of a restructuring plan. BitMart stated that certain activities could return in an orderly and phased manner but has not made a definitive reopening decision. The term creditor was also used for the first time in the exchange’s public statements. In the July announcement, the reason for the closure was cited only as operating conditions, the market environment, and future strategy.

BitMart is Reevaluating the Shutdown Decision

White & Case has been appointed as legal counsel for the restructuring process. The exchange expects to present a detailed roadmap by September 9. According to the current timeline, all transactions are scheduled to end on August 26, with platform operations planned to cease completely by January 31, 2027. Withdrawals will continue with additional compliance checks. This channel will remain open for now regarding users’ access to their assets.

The shutdown announcement triggered heavy selling pressure on the BMX token. The token dropped approximately 58% in 24 hours, bringing its year-to-date loss to 83%. The year-to-date price chart shows BMX falling sharply from around $0.30 at the end of July to the $0.05 region. This movement was not an immediate reaction to the new statement, but rather the market outcome following the closure decision.