- BitMart announced a complete shutdown and officially stopped trading on August 26 before the platform’s closure.
- BMX has faced a significant downturn since the announcement and users will have to verify their accounts and withdraw assets on time.
- The exchange shutdown was also announced simultaneously by BitMart and BitMEX in the same week during strategic reviews.
After announcing the orderly wind down of its activities, BitMart’s exchange closure has already started, leading to the end of nearly nine years of activity.
The company stated that it has already halted new sign-ups, deposits, and new trading orders and is implementing a phased transition, which will culminate in a full shutdown of the platform in January 2027. The announcement triggered an immediate reaction in the market, sending the exchange’s native BMX token sharply lower within hours.
BitMart Exchange Closure Enters First Phase
BitMart said the first stage of the shutdown took effect on July 26, 2026, at 01:30 UTC, when the platform stopped accepting new user registrations, cryptocurrency deposits, and new trading orders.
The exchange also moved futures accounts into read-only mode, allowing users to decrease or close existing positions without opening new ones. Spot markets also stopped accepting new orders on the same date as part of the staged transition.
Source: Crypto Exchange BitMart
According to the published schedule, additional trading products will also be discontinued over time. These products will be phased out, such as copy trading, grid trading, and API trading services. Other services, such as Earn, staking, lending, and Launchpad products, will have different wind-down timelines.
Key changes announced
- The period for new registrations and deposits and new orders ended on July 26, 2026.
- Futures trading moved to reduce-only mode, and the spot markets ceased taking new orders.
- Services will be closed on a staggered basis based on the different copy trading, grid trading, API trading, staking, lending, Earn, and Launchpad services.
According to BitMart, all spot and futures trading will cease at 01:00 UTC on August 26, 2026. The platform will remain active to continue with the remaining operational matters until the end of its operations on 31 January 2027 at 15:59 UTC.
The exchange also notified customers about the following deadline: customers are required to undergo verification, close all open positions, and submit the withdrawal request before 05:00 UTC on August 26, 2026.
BMX is down after the BitMart Exchange closed
The announcement immediately affected the exchange’s native token.
BMX fell sharply following the shutdown notice, with market data showing the token trading near $0.11016 after declining 46.08% over 24 hours. Separate market data later placed the token near $0.08, representing a decline of approximately 58% during the same period.
The decline extended a longer-term trend for the exchange token. BMX is around 82% lower than its peak price from June 5, 2024, of $0.61905.
However, BitMart had reported that there was still a good amount of trading volume before the markets went into shutdown. About $1.6 billion worth of trading volume has taken place on the exchange in 24 hours, a jump of 51% from the prior reporting period. Nearly half of that activity was driven by Bitcoin.
The increase in trading volume coincided with the wind-down announcement as users closed positions and prepared to move assets before the trading deadlines.
BitMart also reminded customers that withdrawal requests might be subject to further verification. These reviews may include identity verification, device and IP verification, withdrawal address screening, source-of-funds reviews, and sanctions compliance checks.
The exchange also warned that processing times could increase if withdrawal requests rise significantly during the shutdown period.
BitMEX Announces Separate Shutdown Days Earlier
The BitMart exchange closure follows another exchange shutdown announced earlier in the same week.
BitMEX confirmed that it will end operations on September 23 after completing what it described as a strategic review of its business and the broader cryptocurrency industry. The exchange, owned by Seychelles-registered HDR Global Trading, did not provide a specific reason for the decision.
Timeline of upcoming closures
- BitMart: All trading ends on August 26, 2026, while platform operations end on January 31, 2027.
- BitMEX: Operations are scheduled to end on September 23, 2026.
Both exchanges instructed customers to close positions and withdraw assets before the respective deadlines. The timing places two long-running cryptocurrency exchanges on separate wind-down schedules announced within days of one another.
Withdrawal Timeline Extends Into Early 2027
Although trading activity on BitMart will conclude in late August, the company established a longer timetable for the final closure of platform operations.
However, customers will still be able to access withdrawal services after the trading period concludes, as per the procedure and verification requirements of the exchange. BitMart stated that all remaining operational activities will conclude on January 31, 2027.
Frequently Asked Questions
Why is BitMart shutting down?
BitMart said the decision followed a review of its operating conditions, market environment, and future strategic direction. The company did not provide additional details.
When will BitMart stop trading?
All spot and futures trading on BitMart will end at 01:00 UTC on August 26, 2026.
When will BitMart completely cease operations?
The exchange said all remaining platform operations will end at 15:59 UTC on January 31, 2027.
