{"investigation":{"slug":"bitmart-exchange","entity_name":"BitMart Exchange","trust_score":10,"severity_base":null,"score_modifier":-12,"confidence":0.82,"status":"draft","content_type":"investigation","summary":"BitMart, a centralized cryptocurrency exchange founded in 2017 by Sheldon Xia and registered in the Cayman Islands, announced on July 26, 2026 that it would wind down all trading operations, ending spot and futures activity on August 26, 2026 and fully closing by January 31, 2027. The announcement triggered a 58–70% collapse in its native BMX token and prompted widespread user complaints of withdrawal delays, with on-chain data showing severely suppressed fund outflows in the days following the closure notice. The shutdown followed a prior history including a $196 million hot-wallet hack in December 2021, an FTC investigation, and a persistent failure to publish verifiable proof-of-reserves.","sections":[{"content":"BitMart Exchange was founded in 2017 by Sheldon Xia and launched publicly in early 2018. The exchange was incorporated in the Cayman Islands and registered as a Money Services Business in the United States. At its peak, BitMart reported over 9 million users across more than 180 countries and supported approximately 2,379 digital assets across 2,534 trading pairs, placing it among the top-20 centralized exchanges globally by volume at various points. The platform issued the BMX token (an ERC-20 utility and investment token) in 2018, which served as a fee-discount and revenue-sharing instrument tied to the health of the exchange. In April 2025, founder Sheldon Xia transitioned from CEO to Group President, and Nenter Chow was appointed Global CEO.","heading":"Overview and Background","sources":[{"url":"https://en.wikipedia.org/wiki/Bitmart","name":"BitMart Wikipedia entry","type":"other","credibility":2},{"url":"https://www.theblock.co/post/409670/bitmart-to-wind-down-trading-platform-as-global-ceo-says-he-was-not-consulted","name":"BitMart to wind down trading platform as global CEO says he was not consulted — The Block","type":"news_article","credibility":2}],"severity":"low"},{"content":"On July 26, 2026, BitMart published an official notice announcing an orderly wind-down of its trading platform. The stated rationale was vague: 'operating conditions, market environment, and future strategic direction,' with no elaboration on which of those factors drove the decision. Effective 01:30 UTC on July 26, new user registrations, deposits, and trading orders were suspended and futures contracts moved to reduce-only mode. All spot and futures trading is scheduled to cease on August 26, 2026 at 01:00 UTC. The platform is set to formally cease all operations, including withdrawals, on January 31, 2027 at 15:59 UTC. Users have been urged to close positions and withdraw assets as early as possible. The abruptness of the decision was underscored by the fact that BitMart had published a positive H1 2026 business report shortly before the announcement, claiming roughly 256% period-over-period growth in its asset management division. BitMart's closure made it the third major centralized exchange to announce a shutdown in July 2026, following AscendEX (which announced immediate closure on July 1, citing MiCA regulatory pressure and a failed financing round) and BitMEX (which began its closure process on July 23, 2026, citing strategy and market conditions).","heading":"Shutdown Announcement and Timeline","sources":[{"url":"https://www.coindesk.com/markets/2026/07/26/crypto-exchange-bitmart-to-shut-down-after-nine-years-bmx-token-crashes-58","name":"Crypto exchange BitMart to shut down after nine years, BMX token crashes 58% — CoinDesk","type":"news_article","credibility":2},{"url":"https://news.bitcoin.com/bitmart-begins-shutdown-process-as-crypto-exchange-sets-final-trading-deadline/","name":"BitMart Begins Shutdown Process as Crypto Exchange Sets Final Trading Deadline — Bitcoin.com News","type":"news_article","credibility":2},{"url":"https://en.cryptonomist.ch/2026/07/27/bitmart-exchange-shutdown/","name":"BitMart Exchange Shutdown Details and Timeline — Cryptonomist","type":"news_article","credibility":2},{"url":"https://www.cryptowisser.com/news/bitmart-to-shut-down-trading-platform-suspends-services-ahead-of-august-closure/","name":"BitMart to Shut Down Trading Platform, Suspends Services Ahead of August Closure — CryptoWisser","type":"news_article","credibility":2},{"url":"https://x.com/KoinlyOfficial/status/2082126706563801361","name":"July Has Brought 3 Exchange Closures: AscendEX, BitMEX, and BitMart — Koinly (X/Twitter)","type":"social_media","credibility":3}],"severity":"high"},{"content":"A notable governance anomaly emerged alongside the shutdown: Global CEO Nenter Chow stated publicly that he was informed on July 24, 2026 — two days before the public announcement — that his employment was being terminated and that his offboarding was beginning immediately. Chow said he had no involvement in the wind-down decision and learned of it only when the public announcement went live, the same as the general public. Weeks before his termination, Chow had publicly outlined plans to expand BitMart into prediction markets, tokenized assets, and new regulatory jurisdictions, stating 'BitMart is eight years old this year. We intend to be here for the next eight, and we are building accordingly.' The decision appears to have originated with founder and Group President Sheldon Xia, though no formal statement from Xia has been identified by this investigation. The combination of an abruptly removed CEO and a shutdown announcement made without his knowledge raises questions about internal decision-making transparency and whether the closure was planned in advance of the public notice.","heading":"CEO Termination and Governance Concerns","sources":[{"url":"https://www.theblock.co/post/409670/bitmart-to-wind-down-trading-platform-as-global-ceo-says-he-was-not-consulted","name":"BitMart to wind down trading platform as global CEO says he was not consulted — The Block","type":"news_article","credibility":2},{"url":"https://www.unlock-bc.com/en/bitmart-shutdown-raises-withdrawal-concerns","name":"BitMart Shutdown Under Fire as Withdrawal Concerns Mount After CEO Says He Was Left Out From Decision — Unlock Blockchain","type":"news_article","credibility":2},{"url":"https://x.com/fintechfrank/status/2081378243563635157","name":"Frank Chaparro on X — CEO termination disclosure","type":"social_media","credibility":3},{"url":"https://www.blockhead.co/2026/07/27/bitmart-to-wind-down-exchange-with-ceo-saying-he-was-not-consulted/","name":"BitMart to Wind Down Exchange, With CEO Saying He Was Not Consulted — Blockhead","type":"news_article","credibility":2}],"severity":"high"},{"content":"BitMart's native exchange token, BMX, experienced a severe price collapse immediately following the shutdown announcement. The sell-off began at approximately 11:35 UTC on July 26, 2026. Various tracking sources reported peak 24-hour declines between 55% and 70%, with intraday lows cited around $0.08–$0.11 depending on the source and the precise moment of measurement. The token had previously traded near $0.31 before the announcement. Within one week of the announcement, CoinTelegraph reported BMX trading near $0.057, representing an approximately 81.5% decline from pre-announcement levels. Prior to the shutdown, BMX had already declined approximately 70% over the preceding twelve months, meaning it entered the announcement period in a structurally weakened state. BMX's market capitalization fell from roughly $100 million to approximately $27–$55 million depending on the price point measured. The crash reflects both the direct utility loss of the token (fee discounts and revenue sharing tied to an exchange that was ceasing operations) and broader market panic about access to funds.","heading":"BMX Token Crash","sources":[{"url":"https://www.cryptotimes.io/2026/07/26/bmx-token-crashes-70-as-bitmart-announces-shutdown-days-after-bitmex-exit/","name":"BMX Token Crashes 70% as BitMart Announces Shutdown Days After BitMEX Exit — CryptoTimes","type":"news_article","credibility":2},{"url":"https://www.coindesk.com/markets/2026/07/26/crypto-exchange-bitmart-to-shut-down-after-nine-years-bmx-token-crashes-58","name":"Crypto exchange BitMart to shut down after nine years, BMX token crashes 58% — CoinDesk","type":"news_article","credibility":2},{"url":"https://coinpaprika.com/news/bitmart-shut-down-nine-years-bmx-token-falls/","name":"BitMart to Shut Down After Nine Years, BMX Token Falls 58% in 24 Hours — CoinPaprika","type":"news_article","credibility":2},{"url":"https://www.thecoinrepublic.com/2026/07/26/bitmart-shuts-crypto-exchange-as-bmx-token-crashes-nearly-63/","name":"Bitmart Shuts Crypto Exchange as BMX Token Crashes Nearly 63% — The Coin Republic","type":"news_article","credibility":2},{"url":"https://cointelegraph.com/news/bitmart-withdrawals-slow-exchange-wind-down","name":"BitMart Faces Withdrawal Complaints Following Wind-Down Announcement — CoinTelegraph","type":"news_article","credibility":2},{"url":"https://cryptorank.io/news/feed/ee2dc-bitmart-bmx-token-plunge-withdrawal-complaints","name":"BitMart Token BMX Plunges Over 60% as Withdrawal Complaints Mount — CryptoRank","type":"news_article","credibility":2}],"severity":"high"},{"content":"Following the shutdown announcement, multiple blockchain analytics providers and affected users documented what appeared to be severe bottlenecks in fund withdrawals from the platform. On-chain data collected by Lookonchain indicated that only 58 wallets had withdrawn approximately $805,000 in the 24 hours following the notice, and that the exchange processed zero withdrawals during an eight-hour window within that period. Onchain Lens separately reported zero large withdrawals (above $25,000) over a comparable 24-hour span. Nansen analytics reported that wallets attributed to BitMart held approximately $69 million in crypto assets as of late July 2026, down from roughly $102 million on July 6 — a decline of approximately 32% over three weeks, though Nansen noted this did not constitute proof of insolvency. Analysts observed that the remaining reserve composition was heavily weighted toward less-liquid tokens, raising concerns about the exchange's ability to meet a large-scale redemption surge. BitMart acknowledged the delays in a public statement, citing enhanced compliance reviews as the cause: withdrawal requests could face checks on customer identity, login devices, IP addresses, withdrawal addresses, trading history, source-of-funds documentation, and sanctions screening under OFAC and Travel Rule requirements. The exchange provided no maximum processing timeline. Individual user reports on social media alleged confirmation emails for USDT withdrawals that were never processed, accounts displaying an 'on-chain withdrawal freeze' status, and test withdrawals of modest sums (approximately $30) pending for over 30 minutes. These individual claims are unverified and sourced from social media; they are included here as context but should be treated as low-confidence evidence. One blockchain project, Paxi Network, issued a formal public demand for immediate release of its funds, stating the delays were causing financial harm. CoinTelegraph reported that BitMart did not respond to a request for comment before publication. Analysts drew parallels to the withdrawal freeze patterns preceding the collapses of FTX, Celsius, Voyager Digital, and Genesis in 2022, though as of the date of this investigation no formal insolvency proceedings have been announced.","heading":"Withdrawal Delays and User Fund Concerns","sources":[{"url":"https://cryptoslate.com/bitmarts-sudden-shutdown-triggers-withdrawal-delays-and-on-chain-panic-echoing-the-ghosts-of-2022/","name":"BitMart's sudden shutdown triggers withdrawal delays and on-chain panic — CryptoSlate","type":"news_article","credibility":2},{"url":"https://cointelegraph.com/news/bitmart-withdrawals-slow-exchange-wind-down","name":"BitMart Faces Withdrawal Complaints Following Wind-Down Announcement — CoinTelegraph","type":"news_article","credibility":2},{"url":"https://www.cryptotimes.io/2026/07/29/bitmart-users-face-withdrawal-delays-amid-platform-wind-down/","name":"BitMart Users Face Withdrawal Delays Amid Platform Wind-Down — CryptoTimes","type":"news_article","credibility":2},{"url":"https://www.cryptotimes.io/2026/07/27/bitmart-exit-sparks-concerns-as-withdrawals-trickle-out-after-shutdown-notice/","name":"BitMart Exit Sparks Concerns as Withdrawals Trickle Out After Shutdown Notice — CryptoTimes","type":"news_article","credibility":2},{"url":"https://techstory.in/frustration-mounts-as-bitmart-withdrawal-delays-continue-amid-operational-shutdown/","name":"Frustration Mounts as BitMart Withdrawal Delays Continue — TechStory","type":"news_article","credibility":2},{"url":"https://www.digitaltoday.co.kr/en/view/85075/bitmart-withdrawal-delays-spark-user-funds-concerns-after-closure-announcement","name":"BitMart withdrawal delays spark user funds concerns — Digital Today","type":"news_article","credibility":2}],"severity":"critical"},{"content":"BitMart never published a comprehensive, cryptographically verifiable proof-of-reserves audit. In an official statement the exchange acknowledged this gap, stating it was 'actively advancing the necessary preparations and will publish our Proof of Reserves at an appropriate time.' Rather than a Merkle-tree or zk-STARK verified audit standard deployed by competitors such as Binance, OKX, Kraken, and Bybit, BitMart provided only partial lists of hot wallet addresses and self-reported totals. Analysts noted that the self-reported figures of approximately $169 million were heavily weighted with low-liquidity tokens, including SISC, TBC, and the exchange's own BMX token, with insufficient USDT reserves to support large-scale cash withdrawals. The failure to establish credible reserve verification — a practice that had become a post-FTX industry standard — was identified as a structural institutional weakness by multiple commentators at the time of the shutdown. The pattern of reserve opacity traced back to BitMart's December 2021 hot-wallet hack, after which the exchange never implemented a formal reserve audit framework.","heading":"Proof-of-Reserves Failure","sources":[{"url":"https://nulltx.com/why-bitmart-failed-where-top-exchanges-succeeded-the-proof-of-reserves-gap","name":"Why BitMart Failed Where Top Exchanges Succeeded: The Proof-of-Reserves Gap — NullTX","type":"research","credibility":2},{"url":"https://cryptorank.io/news/feed/ee2dc-bitmart-bmx-token-plunge-withdrawal-complaints","name":"BitMart Token BMX Plunges Over 60% as Withdrawal Complaints Mount — CryptoRank","type":"news_article","credibility":2},{"url":"https://bitmart.zendesk.com/hc/en-us/articles/50773623099035-BitMart-Statement-on-Recent-Risk-Controls-and-Asset-Transparency","name":"BitMart Statement on Recent Risk Controls and Asset Transparency — BitMart (official)","type":"official","credibility":2}],"severity":"critical"},{"content":"On December 4, 2021, at approximately 6:30 PM EST, BitMart suffered a security breach affecting two hot wallets: one on the Ethereum blockchain and one on the Binance Smart Chain. Security firm PeckShield identified the breach, with losses initially estimated at approximately $200 million in digital assets, later revised to between $150 million and $196 million by various parties. The attacker exploited a stolen private key, using a 'transfer-out, swap, and wash' method: funds were moved out of BitMart, swapped via the DEX aggregator 1inch into Ether, then deposited into the Tornado Cash privacy mixer to obscure the trail. BitMart CEO Sheldon Xia publicly committed to reimbursing affected users with the company's own funds. Some users subsequently reported that reimbursement did not materialize as stated. In August 2022, Bloomberg reported that the Federal Trade Commission had opened an investigation into BitMart's operators — entities Bachi.Tech Corporation and Spread Technologies LLC — making it the FTC's first known investigation into the crypto industry. The agency was examining whether the operators misled consumers about data security practices and whether they violated the Gramm-Leach-Bliley Act's financial data safeguards rules. The FTC denied a bid by the operators to block agency document demands. No public record of a final FTC enforcement action or consent decree has been identified by this investigation as of August 2026; the outcome of the probe remains unclear.","heading":"2021 Hot-Wallet Hack and FTC Investigation","sources":[{"url":"https://www.coindesk.com/business/2021/12/05/crypto-exchange-bitmart-hacked-with-losses-estimated-at-196-million","name":"Crypto Exchange BitMart Hacked With Losses Estimated at $196M — CoinDesk","type":"news_article","credibility":1},{"url":"https://www.nbcnews.com/tech/security/hackers-take-196-million-crypto-exchange-bitmart-security-firm-says-rcna7713","name":"Hackers take $196 million from crypto exchange Bitmart, security firm says — NBC News","type":"news_article","credibility":1},{"url":"https://www.cnbc.com/2021/12/05/hackers-take-196-million-from-crypto-exchange-bitmart-in-large-breach.html","name":"BitMart says it will compensate victims of $196 million hack — CNBC","type":"news_article","credibility":1},{"url":"https://news.bloomberglaw.com/tech-and-telecom-law/ftc-probes-bitmart-exchange-breach-marking-first-crypto-case","name":"FTC Probes BitMart Exchange Breach Marking First Crypto Case — Bloomberg Law","type":"regulatory","credibility":1},{"url":"https://blockworks.co/news/ftc-probe-into-200m-bitmart-hack-continues-after-doc-block-denied","name":"FTC Probe Into $200M BitMart Hack Continues — Blockworks","type":"news_article","credibility":2},{"url":"https://www.merklescience.com/blog/hack-track-analysis-on-bitmart-hack","name":"Hack Track: Analysis on BitMart Hack — Merkle Science","type":"research","credibility":2}],"severity":"critical"},{"content":"BitMart's closure occurred within a broader wave of mid-tier centralized exchange shutdowns in July 2026. AscendEX announced immediate closure on July 1, 2026, citing the European Union's Markets in Crypto-Assets (MiCA) regulatory framework, a failed financing round, and market pressure. BitMEX began its wind-down process on July 23, 2026, with full closure scheduled for September 23, 2026. Analysts attributed the cluster of shutdowns to structural pressures compressing mid-tier venues: prolonged bear-market trading volumes, liquidity consolidating among the largest platforms (Binance, Coinbase, OKX, Bybit), and decentralized perpetual exchanges capturing approximately 13.5% of total open interest. Multiple commentators counted more than 30 crypto project shutdowns across 2026 spanning exchanges, layer-1 and layer-2 networks, and DeFi protocols. Some analysts framed the concurrent mid-tier failures as a potential market bottom signal for the broader cycle, though this remains a speculative interpretation.","heading":"Industry Context: Mid-Tier Exchange Consolidation","sources":[{"url":"https://memeburn.com/crypto-exchange-shutdown-wave-july-2026/","name":"BitMart Just Shut Down — One of 3 Crypto Exchanges Dead in July — Memeburn","type":"news_article","credibility":2},{"url":"https://www.mexc.com/crypto-pulse/article/why-are-crypto-exchanges-shutting-down-bitmart-bitmex-and-ascendex-exits-explained-and-how-to-protect-your-funds-131779","name":"Why Are Crypto Exchanges Shutting Down? BitMart, BitMEX and AscendEX Exits Explained — MEXC Crypto Pulse","type":"news_article","credibility":2},{"url":"https://beincrypto.com/bitmart-bitmex-shutdowns-analysts-bottom/","name":"Why BitMart and BitMEX Shutdowns Have Analysts Calling a Bottom — BeInCrypto","type":"news_article","credibility":2},{"url":"https://airdropalert.com/blogs/crypto-exchanges-shutting-down/","name":"Crypto Exchanges Shutting Down — AirdropAlert","type":"news_article","credibility":2}],"severity":"medium"}],"timeline":[{"date":"2017","event":"BitMart Exchange founded by Sheldon Xia; incorporated in the Cayman Islands.","source":"Wikipedia / Wikitia","source_url":"https://en.wikipedia.org/wiki/Bitmart","date_original":"2017-01-01"},{"date":"2018-03","event":"BitMart launches publicly and registers as a Money Services Business in the United States. BMX token issued as an ERC-20 utility and fee-discount instrument.","source":"BitMart history sources","source_url":"https://en.wikipedia.org/wiki/Bitmart","date_original":"2018-03-01"},{"date":"2021-12-04","event":"BitMart suffers a $196 million hot-wallet hack across Ethereum and Binance Smart Chain networks via a stolen private key. CEO Sheldon Xia pledges reimbursement from company funds.","source":"CoinDesk / NBC News / CNBC","source_url":"https://www.coindesk.com/business/2021/12/05/crypto-exchange-bitmart-hacked-with-losses-estimated-at-196-million"},{"date":"2022-08-10","event":"Bloomberg reports the FTC has opened an investigation into BitMart operators Bachi.Tech Corporation and Spread Technologies LLC — the agency's first publicly known probe into a crypto firm.","source":"Bloomberg Law","source_url":"https://news.bloomberglaw.com/tech-and-telecom-law/ftc-probes-bitmart-exchange-breach-marking-first-crypto-case"},{"date":"2025-04","event":"Founder Sheldon Xia transitions from CEO to Group President. Nenter Chow is appointed Global CEO.","source":"The Block / Blockhead","source_url":"https://www.blockhead.co/2026/07/27/bitmart-to-wind-down-exchange-with-ceo-saying-he-was-not-consulted/","date_original":"2025-04-01"},{"date":"2026-07","event":"AscendEX announces immediate closure, citing MiCA regulations and a failed financing round — the first of three major exchange closures in July 2026.","source":"MEXC Crypto Pulse / Memeburn","source_url":"https://memeburn.com/crypto-exchange-shutdown-wave-july-2026/","date_original":"2026-07-01"},{"date":"2026-07-23","event":"BitMEX begins wind-down process, targeting full closure by September 23, 2026.","source":"CryptoNews","source_url":"https://cryptonews.com/news/crypto-exchange-shutdown-consolidation/"},{"date":"2026-07-24","event":"BitMart informs Global CEO Nenter Chow that his employment is being terminated effective immediately, two days before any public announcement.","source":"Frank Chaparro (X) / The Block","source_url":"https://x.com/fintechfrank/status/2081378243563635157"},{"date":"2026-07-26","event":"BitMart publicly announces wind-down of trading platform. New registrations, deposits, and trading orders suspended at 01:30 UTC. BMX token crashes 58–70% on the announcement. On-chain data shows severely restricted withdrawal activity in the following 24 hours.","source":"CoinDesk / CryptoTimes / CryptoSlate","source_url":"https://www.coindesk.com/markets/2026/07/26/crypto-exchange-bitmart-to-shut-down-after-nine-years-bmx-token-crashes-58"},{"date":"2026-07-27","event":"Nenter Chow publicly states he was not consulted about the shutdown and learned of the wind-down when it became public. Multiple news outlets report user withdrawal complaints and on-chain data showing near-zero outflows.","source":"The Block / Blockhead / CryptoTimes","source_url":"https://www.blockhead.co/2026/07/27/bitmart-to-wind-down-exchange-with-ceo-saying-he-was-not-consulted/"},{"date":"2026-07-29","event":"Continued reports of withdrawal delays. Lookonchain data cited: only 58 wallets withdrew ~$805,000 in 24 hours; an 8-hour window saw zero processed withdrawals. BMX trading near $0.057, approximately 81.5% below pre-announcement levels.","source":"CoinTelegraph / CryptoTimes","source_url":"https://cointelegraph.com/news/bitmart-withdrawals-slow-exchange-wind-down"},{"date":"2026-08-26","event":"Scheduled: All spot and futures trading on BitMart to cease at 01:00 UTC.","source":"BitMart official notice / CoinDesk","source_url":"https://www.coindesk.com/markets/2026/07/26/crypto-exchange-bitmart-to-shut-down-after-nine-years-bmx-token-crashes-58"},{"date":"2027-01-31","event":"Scheduled: Full platform closure at 15:59 UTC, including suspension of all withdrawal access.","source":"BitMart official notice / CoinDesk","source_url":"https://www.coindesk.com/markets/2026/07/26/crypto-exchange-bitmart-to-shut-down-after-nine-years-bmx-token-crashes-58"}],"sources_used":[{"url":"https://www.coindesk.com/markets/2026/07/26/crypto-exchange-bitmart-to-shut-down-after-nine-years-bmx-token-crashes-58","name":"Crypto exchange BitMart to shut down after nine 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CryptoSlate","type":"news_article","archive_url":"http://web.archive.org/web/20260817183404/https://cryptoslate.com/bitmarts-sudden-shutdown-triggers-withdrawal-delays-and-on-chain-panic-echoing-the-ghosts-of-2022/","credibility":2,"archive_timestamp":"2026-08-17T18:34:04+00:00"},{"url":"https://cointelegraph.com/news/bitmart-withdrawals-slow-exchange-wind-down","name":"BitMart Faces Withdrawal Complaints Following Wind-Down Announcement — CoinTelegraph","type":"news_article","archive_url":"http://web.archive.org/web/20260801190524/https://cointelegraph.com/news/bitmart-withdrawals-slow-exchange-wind-down","credibility":2,"archive_timestamp":"2026-08-01T19:05:24+00:00"},{"url":"https://www.theblock.co/post/409670/bitmart-to-wind-down-trading-platform-as-global-ceo-says-he-was-not-consulted","name":"BitMart to wind down trading platform as global CEO says he was not consulted — The Block","type":"news_article","archive_url":"http://web.archive.org/web/20260726161139/https://www.theblock.co/post/409670/bitmart-to-wind-down-trading-platform-as-global-ceo-says-he-was-not-consulted","credibility":2,"archive_timestamp":"2026-07-26T16:11:39+00:00"},{"url":"https://www.blockhead.co/2026/07/27/bitmart-to-wind-down-exchange-with-ceo-saying-he-was-not-consulted/","name":"BitMart to Wind Down Exchange, With CEO Saying He Was Not Consulted — Blockhead","type":"news_article","archive_url":"http://web.archive.org/web/20260801002307/https://www.blockhead.co/2026/07/27/bitmart-to-wind-down-exchange-with-ceo-saying-he-was-not-consulted/","credibility":2,"archive_timestamp":"2026-08-01T00:23:07+00:00"},{"url":"https://news.bloomberglaw.com/tech-and-telecom-law/ftc-probes-bitmart-exchange-breach-marking-first-crypto-case","name":"FTC Probes BitMart Exchange Breach Marking First Crypto Case — Bloomberg 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