BitMart users holding large balances have issued a public complaint, saying their assets remain stuck on the platform. In a post on X, user @MINGLIbtc said a joint group of affected BitMart users had published the statement. As of July 30, 27 users had completed registration, with more than $3.7 million in assets unable to be withdrawn. The largest single case reached 700,000 USDT, and the total was still increasing.
Users say redemption was followed by shutdowns of exit channels
According to the complaint, several users were drawn by stablecoin wealth management products linked to USDG and PYUSD. After completing KYC, redeeming those products, and submitting withdrawal requests in line with platform requirements, they found that exit channels were gradually closed.
Users said USDG withdrawal routes on both ERC20 and Solana showed as suspended. They also said the USDG/USDT and PYUSD/USDT trading pairs were not functioning normally. That left wealth management users unable to withdraw directly and unable to convert into USDT first and then withdraw.
Large withdrawals remain pending, while small transfers are occasionally released
The complaint says large withdrawal requests have been stuck for an extended period. Only scattered small withdrawals of around 100 USDT have gone through, while account withdrawal limits over a 24-hour period were cut sharply.
BitMart said on July 26 that it would gradually stop operations and that withdrawal services would remain open. Users said their actual experience was in serious conflict with that announcement.
Users demand a direct response within 24 hours
The users raised eight questions and asked BitMart to disclose the status of asset backing, the custodian, withdrawal handling standards, and the real progress of processing. They also demanded that a person with decision-making authority communicate with them directly within 24 hours.
If there is no response, the users said they will submit evidence to police and disclose the case to international media. They added that they would not accept private discounted settlements or installment arrangements, and said their primary demand remains the full return of assets.
Fee cut five days before shutdown announcement draws scrutiny
The complaint also points to BitMart’s July 21 move to lower fees for the USDG/USDT and PYUSD/USDT pairs. Five days later, the platform announced it would stop operating. Users said that timeline has raised questions over whether the platform knew in advance.