BitMart considers restructuring after announcing closure last month

BitMart may not shut down after all

Crypto exchange BitMart has announced it is exploring a restructuring plan, just weeks after saying it would close by January 31, 2027. The company said it may resume some operations and pay back users who still have money on the platform.

BitMart hired law firm White & Case to help decide its future. The exchange said it will share a detailed plan by September 9, 2026.

What led to the change

On July 26, 2026, BitMart said it would stop all services by the end of January 2027. After that announcement, many users tried to withdraw their money but had trouble doing so. This caused panic and speculation that the company might not have enough money to pay everyone.

BitMart’s Chief Product Officer, Terence Lee, resigned shortly after the closure announcement. The company’s CEO, Nathan Chow, was fired before the announcement and said he did not know about it in advance.

Key details from BitMart’s statement

• BitMart is considering a restructuring plan instead of closing.
• The plan may include restarting some services and paying back users.
• Law firm White & Case is helping with the process.
• A full roadmap will be released by September 9, 2026.
• The exchange had previously said it would shut down by January 31, 2027.

What is confirmed

• BitMart announced on August 24, 2026, that it is exploring a restructuring plan.
• The company hired White & Case to help with the process.
• BitMart will release a detailed plan by September 9, 2026.
• The exchange had previously announced it would close by January 31, 2027.
• Users had trouble withdrawing funds after the closure announcement.

What is still unclear

• Whether BitMart will actually resume operations or just pay back users.
• How much money BitMart has and how much it can return to users.
• Why the company changed its plan so soon after announcing closure.
• Whether the company is insolvent (does not have enough money to pay its debts).

Why this matters for users

If BitMart restructures instead of closing, users may get their money back or regain access to their accounts. The exchange’s decision to explore this option comes after weeks of uncertainty for users who were unable to withdraw their funds.

Sources

• Protos