Bullish
BitMart Founder Denies Withdrawal Halt Rumors Amid August 26 Shutdown
00:49
BitMart founder refutes claims of frozen withdrawals and unpaid salaries, attributing them to a hack. The exchange halts trading on August 26 as restructuring talks stall.
Woofun AI reports that BitMart founder Sheldon Lee dismissed allegations regarding blocked user withdrawals and unpaid July salaries as "fabricated rumors," attributing the misinformation to a compromised Chinese-language social media account. The exchange is proceeding with its scheduled cessation of trading operations on August 26.
Users and on-chain investigator ZachXBT are demanding the restoration of withdrawal capabilities or an independent third-party audit.
Meanwhile, Echo Base stated it proposed a financially backed restructuring plan to BitMart but received no response, warning that unresolved customer claims may necessitate legal proceedings.
WOOFUN AI
Impact Assessment · Quick Read
The denial of operational issues contrasts sharply with the imminent shutdown, creating significant uncertainty for remaining users. The lack of response to Echo Base's restructuring proposal suggests limited liquidity or governance paralysis, increasing the likelihood of protracted legal disputes. Investors should monitor on-chain outflows and official communications for any deviation from the August 26 closure timeline.
Generated by WOOFUN AI · For reference only, not investment advice
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