BitMart appoints financial adviser after missing restructuring deadline

Event summary

BitMart announced on Sep 9, 2026 that it had missed the deadline it set for publishing a restructuring and business‑resumption roadmap. The exchange also named the consulting firm Alvarez & Marsal as its financial adviser.

Key points

• Deadline missed: Sep 9, 2026.
• Financial adviser appointed: Alvarez & Marsal.
• Advisor will work with legal counsel to assess assets, finances and stakeholder issues.
• BitMart will launch a user‑feedback portal within five working days.
• Updates on the plan will be released over the next three weeks.

BitMart’s statement

In a post on X, BitMart said Alvarez & Marsal will evaluate the exchange’s assets, financial position, stakeholder concerns and possible paths forward. The review will also consider proposals from unnamed third parties.

Community reaction

Echo Base, a group that formed an ad‑hoc committee of BitMart claimants, called the adviser appointment “the most encouraging step … since July.” Its CEO, Roshan Dharia, noted that the announcement still lacks a reserve position, asset inventory, recovery estimate or withdrawal timetable.

Confirmed facts

• BitMart missed its self‑imposed Sep 9 deadline.
• Alvarez & Marsal has been engaged as financial adviser.
• A feedback portal will be created within five working days.
• BitMart has faced scrutiny since a July 26 wind‑down announcement and reports of withdrawal delays.

Unclear details

• The exact amount of assets held by BitMart has not been disclosed.
• No timetable for user withdrawals has been provided.
• Specific proposals from third parties have not been identified.

Why it matters

BitMart is a major cryptocurrency exchange. Its inability to publish a clear restructuring plan and the lack of a withdrawal schedule have raised concerns among users about the safety of their funds.

Next steps

The exchange will open a dedicated web portal for users to give feedback on the proposed action plan. Further updates are expected on a rolling basis over the next three weeks.

Sources

• Cointelegraph