BitMart will end all trading services globally on August 26 before fully ceasing operations in January 2027.Users must close positions and request withdrawals early as compliance checks could delay asset processing.BMX fell 58.5% in seven days to about $0.1285 as most token activity remained tied to BitMart markets.The shutdown reverses BitMart’s July growth message and follows earlier product and regional restrictions.BitMart has placed its exchange on a global shutdown timetable after reviewing its operating conditions, market environment, and strategic direction. The decision follows several service restrictions and comes only days after BitMEX announced plans to leave the market.Important NoticeAfter a careful evaluation of the Company's operating conditions, market environment, and future strategic direction, BitMart has made the difficult decision to commence an orderly wind-down of its trading platform operations. We deeply regret having to make… pic.twitter.com/KX3zczIrAh— BitMart (@BitMartExchange) July 26, 2026As part of the phased closure, the exchange began restricting new registrations, deposits, spot orders, and new futures positions on July 26 at 01:30 UTC. Withdrawals remain available, although rising demand and stricter compliance checks have increased pressure on users seeking to move assets before trading services end.Withdrawal Deadlines Tighten as Compliance Reviews ExpandFutures accounts now operate in reduce-only mode, allowing customers to close existing positions but preventing them from opening new ones. Meanwhile, copy trading, grid trading, automated interfaces, and other supporting services are also being discontinued under the closure plan.The next major deadline will arrive on August 26 at 01:00 UTC, when all spot, futures, and related trading services are scheduled to stop. Afterward, the platform expects to maintain limited operations until January 31, 2027, at 15:59 UTC.To reduce potential delays, customers were advised to close their positions before the August cutoff. They were also encouraged to submit withdrawal requests before 05:00 UTC on August 26.However, withdrawal requests may undergo identity, sanctions, source-of-funds, and wallet-ownership checks before assets are released. Consequently, congestion, elevated demand, and additional compliance procedures could extend processing times.Meanwhile, customers who miss the recommended withdrawal window will enter a separate processing procedure. However, the exchange has not yet disclosed how that process will operate or how long it may take.The global shutdown followed several earlier restrictions affecting specific products and customer groups. On July 23, users associated with the United States were instructed to close positions and withdraw their assets by August 8.One day later, the platform suspended its automated market-making bot. It then announced the discontinuation of spot-margin trading on July 25, setting the stage for the broader shutdown schedule.BMX Liquidity Weakens as BitMart Prepares to ExitMeanwhile, BMX suffered heavy losses around the announcement and fell to about $0.1285, according to CoinGecko data. The token dropped 12.7% within 24 hours and 58.5% over seven days.Its market capitalization declined to nearly $44 million, while the price remained about 79% below its June 2024 record of $0.619. Earlier reports also showed that BMX briefly lost more than 60% as some users raised concerns about delayed withdrawals.Liquidity risks became more pronounced given that most BMX activity remained concentrated on the exchange’s own markets. As those services disappear, the token will lose several important internal venues for price discovery and order execution.The shutdown also contrasts sharply with the company’s July 20 first-half report. At the time, BitMart said it supported more than 1,900 spot assets and had added 492 perpetual-futures pairs.The report also recorded a 256% period-over-period rise in assets under management. In addition, Chief Executive Nathan Chow said the eight-year-old company intended to remain active for another eight years.However, less than one week later, the platform entered a formal closure timetable. The rapid reversal highlighted the widening gap between its recent expansion claims and its decision to stop operating.BitMart had also faced significant challenges before the shutdown announcement. In December 2021, compromised private keys exposed two hot wallets and allowed attackers to remove an estimated $196 million in cryptocurrencies.Following the breach, the exchange pledged to compensate affected users. It later completed a funding round that valued the company at more than $300 million.The shutdown now marks the end of a period defined by expansion, security losses, product restrictions, and rising withdrawal pressure. It also places BMX liquidity at the center of concerns surrounding the platform’s final exit.The post BitMart Announces Global Shutdown as BMX Crashes and Withdrawals Surge appeared first on Blockonomi.