BitMart, one of the crypto industry’s longer-running centralized exchanges, is now facing a fresh insolvency claim just as it works through a multi-stage shutdown that has already frozen new deposits, spooked token holders and triggered a wave of withdrawal complaints. The accusation comes from a co-founder of OpenGradient, whose market-making team says it cannot pull its own balances off the platform — a claim that, if accurate, would deepen concerns already swirling around the exchange’s wind-down.
Key takeaways
An OpenGradient co-founder alleges BitMart is insolvent after his market-making team’s funds got stuck on the platform, though the claim has not been independently verified.
BitMart began a phased shutdown on July 26, halting new registrations and deposits, with all trading set to stop by 01:00 UTC on Aug. 26 and full platform closure scheduled for Jan. 31, 2027.
Scandic Coin says roughly 21,898 USDT and 926,635 SNC submitted for withdrawal on July 26 re
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