BitMart said on July 26 that it will orderly shut down its trading platform and plans to formally cease operations on Jan. 31, 2027, following an assessment of its operating conditions, the market environment, and its future direction. The announcement came three days after veteran derivatives exchange BitMEX said on July 23 that it would end an 11-year run.
BitMart said that from the morning of the announcement, it began phasing out new user registrations, crypto and fiat deposits, and users’ ability to open new trading positions. The platform asked users to close positions, redeem wealth management products, and submit withdrawal requests as soon as possible to avoid delays caused by reviews or on-chain congestion before the deadlines.
Deposits and new position openings have been halted
According to the BitMart notice, the exchange started at 9:30 a.m. on July 26, 2026 to gradually stop accepting new user registrations and to close all crypto asset and fiat deposit services.
BitMart said that once deposit functions are disabled, any assets still sent to the platform may not be credited automatically. It warned users not to transfer assets to any BitMart deposit address after the cutoff. The platform said it has now entered a wind-down stage focused on closing positions, redeeming products, and withdrawing assets.
Spot, futures, and other trading services to end on Aug. 26
BitMart plans to stop spot, futures, and other trading services at 9:00 a.m. on Aug. 26, 2026.
Any futures positions that remain open at that point may be handled under the applicable mark price, index price, or settlement rules in effect at the time, with detailed settlement arrangements to be announced separately.
Products including Earn, staking, lending, and Launchpad will also be phased out based on their respective status. The redemption, settlement, and follow-up arrangements for those assets will be communicated through dedicated announcements or internal notifications to affected users.
Key timeline provided by BitMart
| Time | Item |
|---|---|
| July 26, 2026 09:30 | Gradual halt of new user registrations |
| July 26, 2026 09:30 | Gradual halt of crypto asset and fiat deposits |
| July 26, 2026 09:30 | Stop opening new futures positions and new spot orders |
| Aug. 26, 2026 09:00 | Stop spot, futures, and other trading services |
| Aug. 26, 2026 13:00 | Recommended deadline to complete withdrawal requests |
| Jan. 31, 2027 23:59 | Formal end of trading platform operations |
BitMart said withdrawal channels will remain open after the announcement, but strongly recommended that users complete identity verification and close all trading positions before 9:00 a.m. on Aug. 26, and submit withdrawal requests before 1:00 p.m. that day.
Some withdrawals may be subject to manual or additional review because of regulatory requirements, account security, or risk controls. BitMart said a submitted withdrawal request does not mean the review has been completed, nor does it mean the assets have already been broadcast on-chain. Processing times could be extended if many users request withdrawals within a short period or if additional documents are needed.
For users, the immediate task is to check account balances, cancel open orders, close futures positions, redeem wealth products, and move assets either to another trading platform or to self-custodied wallets.
Formal shutdown on Jan. 31, 2027, with late withdrawals moved to a special process
BitMart said it plans to formally stop operating the trading platform at 11:59 p.m. on Jan. 31, 2027.
After the formal shutdown, users will still be able, within the specified period, to log in to their accounts, review assets and historical records, and submit withdrawal requests under the procedures then in effect. Accounts that do not complete withdrawals within the exchange’s recommended window will be moved into a special handling process and may need to provide additional documents or undergo individual review.
BitMart also warned that the risk of scams impersonating customer service may rise during the shutdown process. It said it will not contact users through Telegram, WhatsApp, WeChat, or private community accounts to ask for “expedite fees,” “unfreezing fees,” or “deposits,” and that there is no paid fast-track or priority withdrawal channel.
BitMEX announced its own exit three days earlier
Three days before BitMart disclosed its shutdown plan, BitMEX, once a dominant force in crypto derivatives, said it would formally stop trading on Sept. 23, 2026.
BitMEX was founded in 2014 by Arthur Hayes, Ben Delo, and Samuel Reed. In 2016, it launched the Bitcoin Perpetual Swap. The product has no expiry date and uses a funding-rate mechanism to keep contract prices close to spot, helping high-leverage trading become a mainstream feature of the crypto market.
Today, exchanges including Binance, Bybit, OKX, and on-chain derivatives platform Hyperliquid treat perpetuals as a core business line. Funding rates, isolated and cross margin, and 100x leverage, all mechanisms familiar to crypto traders, can be traced back to BitMEX’s earlier product design.
According to the report, BitMEX has already stopped new account registrations and will bar users from increasing existing positions starting Aug. 26. After trading stops at 4:00 a.m. UTC on Sept. 23, any positions still open will be forcibly closed by the platform.