TLDR
- BitMart set an Aug. 8 deadline for covered US users to close positions and withdraw crypto.
- The exchange plans to halt all spot, futures, and other trading platform-wide on Aug. 26.
- Users who miss the Aug. 8 cutoff could face further account restrictions.
- BitMart aims to end all platform operations entirely by Jan. 31, 2027.
- A separate BitMart US platform requires a new account and fresh identity checks.
BitMart has told users based in the United States that they have only a few days left to withdraw their crypto. The exchange set a deadline of Aug. 8 at 23:59 UTC for covered users.
The deadline applies to anyone who lives in or is located in the United States. It also applies to anyone treated as a US user under BitMart’s policies.
Users covered by the notice must cancel any open orders before the deadline. They also need to close out their positions on the platform.
BitMart is asking these users to redeem or withdraw any product balances they hold. This includes assets that may not be supported by their destination wallet.
If a wallet cannot support certain assets, users may need to convert them first. Only then can a withdrawal be completed.
What Happens After The Deadline
BitMart said it may place further restrictions on accounts that miss the Aug. 8 cutoff. Any assets left behind will be handled under the exchange’s user agreement and compliance rules.
The exchange has not given a clear timeline for how long these restrictions might last. It also has not said whether locked funds would eventually become accessible again.
Withdrawals tied to this deadline may require extra steps. BitMart said users might need identity verification or proof they own the destination wallet.
The exchange may also request information about the source of funds. Some withdrawals could face a security review before funds are released.
BitMart has not shared a maximum processing time for these checks. A withdrawal request submitted before the deadline could still face delays afterward.
A Wider Shutdown Timeline
The Aug. 8 deadline is separate from BitMart’s plan to shut down its full platform. The exchange has scheduled a global halt to all trading services for Aug. 26 at 01:00 UTC.
This halt would stop spot trading, futures trading, and other services across the platform. BitMart recommends that all users withdraw funds by 05:00 UTC on Aug. 26.
The company has said it plans to end all platform operations by Jan. 31, 2027. That gives users outside the US deadline a longer window to retrieve funds.
BitMart also runs a separate platform called BitMart US. Moving to this platform is not automatic for current users.
Anyone who wants to use BitMart US must create a new account. They will also need to pass a new set of identity checks.
Approval for BitMart US depends on the user’s location and other factors. Registering for the new platform does not guarantee access to any product.
BitMart began a gradual rollback of services on July 26 at 01:30 UTC. This included pausing new registrations, deposits, new positions, and new spot orders across the platform.
The company has not given a single completion time for that rollout. It also has not confirmed that every listed restriction is already active across the platform.
The post BitMart Sets Aug. 8 Deadline For US Users To Withdraw Crypto appeared first on Blockonomi.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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