BitMart Withdrawal Crisis Deepens as Founder Issues Statement

The cryptocurrency exchange BitMart finds itself at the center of a storm following widespread user complaints about failed withdrawals and rumors of unpaid staff salaries. On August 8th, founder Sheldon released a public statement addressing the growing concerns.

Official Stance: Denying Exit Scam, Pledging Orderly Process

In his message, Sheldon directly refuted speculation of an exit scam. "We have not run away, and we will not run away," he stated, urging the community not to trust unverified screenshots and claims allegedly from former or current employees.

He explained that the core team is currently focused on asset auditing, fund consolidation, and system maintenance. The stated goal is to achieve an "orderly wind-down" of the platform's operations, with further details to be announced officially.

Addressing the critical issue of user funds, Sheldon offered assurances: "We have not misappropriated assets, engaged in front-running, or executed any withdrawal schemes." To bolster transparency, he mentioned considering the involvement of courts and third-party audit firms to provide a clear report on the asset situation.

Community Reports: Persistent Issues Contradict Official Claims

Despite the founder's statements, user reports from community channels paint a different picture. Numerous accounts suggest that withdrawal functionality remains severely impaired, contradicting the platform's assertion that withdrawals are still operational.

Users are encountering a range of persistent problems, including:

  • Withdrawal requests stuck in "processing" or "packing" status indefinitely.
  • Platform interfaces showing withdrawals as "completed" without corresponding on-chain transaction hashes, meaning funds never left.
  • Requests being automatically canceled and returned to the spot account.
  • Opaque error messages such as "chain freeze."
  • Extremely low daily withdrawal limits effectively locking in larger sums.

These ongoing technical hurdles have fueled user anxiety regarding the platform's actual operational status and the safety of their assets. The market is now closely watching whether the promised "orderly wind-down" can be executed and if independent third-party audits will materialize.