The crypto exchange announced its closure in July, with trading set to end on August 26. The exchange’s full operations are scheduled to cease on January 31. However, a significant number of users are currently unable to withdraw their funds, despite having completed KYC verification. Withdrawal orders go through the creation and processing stages, but at the final stage, the transaction is returned along with the fee. At the same time, some employees have not received their final salary or compensation.
Users are demanding that BitMart founder Sheldon Xia disclose information about the wallets, assets, liabilities, and available reserves. After that, they want to see a debt repayment plan. Before the shutdown, the company fired CEO Nathan Chow, who learned about the crypto exchange’s liquidation only from the news. The company had claimed that it had enough assets to pay users.