BitMart faces Aug. 19 deadline over withdrawals and user funds

BitMart users and employees have demanded that the crypto exchange disclose its reserves, explain reported withdrawal restrictions, and publish a repayment plan by Aug. 19 as questions continue over customer funds and unpaid staff compensation. Summary BitMart users and employees have demanded a public explanation over withdrawal restrictions and unpaid compensation. The group wants BitMart to disclose its assets, liabilities, wallets and usable reserves by Aug. 19. A detailed user repayment plan and independent third party audit have also been requested. The group said it may submit evidence to regulators and law enforcement if BitMart fails to respond by the deadline. A public statement posted on X and addressed to BitMart founder Sheldon Lee and Yi Li said a large number of users remained unable to withdraw their assets, while some employees had not received their previous month’s salary or compensation owed to them. The statement called for BitMart to provide verifiable information on its wallets, assets, liabilities and reserves available to meet customer withdrawals. It also asked the exchange to accept independent third-party scrutiny of the figures instead of relying on com...