Centralized cryptocurrency exchange BitMart announced that it has decided to gradually close its trading platform after an assessment of operating conditions, market environment and future strategy. This announcement marks another notable development in the centralized exchange sector, following the closure of BitMEX.
According to the timeline shared by BitMart, new user registrations, deposits and new buy/sell orders were stopped on July 26, 2026 at 04:30. All exchange trading services are scheduled to end on August 26, 2026 at 04:00. The closure of the platform is officially scheduled for January 31, 2027 at 6:59 p.m.
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BitMart, which gained popularity among altcoin investors in 2021, at one point ranked among the top 10 cryptocurrency exchanges in the world in terms of daily trading volume. The same year, investment firms such as Fenbushi Capital and Hack VC invested in BitMart at a valuation of around $300 million.
However, in late 2021, the exchange faced a major security breach in which around $200 million worth of crypto assets were stolen. Following this attack, the company reportedly experienced various operational and financial difficulties.
The shutdown announcement also created heavy selling pressure on BitMart’s native token, BMX. The price of BMX has lost around 63 percent of its value in the last 24 hours.
*This does not constitute investment advice.
