BitMart is again under pressure because of the user's funds freeze and restricted disputes. A group of individuals known as company employees took over BitMart's Chinese X account and made five public inquiries to the founders, Sheldon Xia, and co-author Yi Li, requesting a response by 19 August and offering an enforceable user reimbursement scheme.
Five questions point to funding.
These questions focused on the location of the user ' s assets, the adequacy of the platform ' s reserves, when the withdrawal restrictions occurred, when management was informed, and whether staff salaries and compensation were in arrears. The issuer requested BitMart to disclose assets, liabilities, wallet addresses and available reserves to demonstrate that the platform still had the capacity to cover user balances.
The issuer stated that there were still a large number of users who were not in a position to raise their money properly, and therefore asked management to indicate when the issue of cash withdrawal was first discovered by the platform and who decided to impose the restrictions. In addition to user funds, companies are required to pay and compensate their employees, arguing that ordinary employees should not bear the consequences of management decisions.
The founder denied and claimed responsibility.
In the face of the above allegations, Sheldon Xia responded quickly, claiming that the contents were false and rumours. It stated that the company had gathered relevant evidence, planned to call the police and sent a letter of attorney to X requesting cooperation in technical and data verification.
He also indicated that client assets were always a priority and that staff would not be placed in special treatment before users. However, this response did not calm down. The chain surveyer, ZachXBT, then stated that if the platform did have sufficient liquidity, it would be more direct to return the funds to all users as soon as possible.
Stoppage arrangements have heightened external concerns.
At the time of the dispute, BitMart had advanced the platform closure arrangements. According to the information in the document, the platform ceased registration of new users, fillings and submission of new orders on 26 July, the transaction is expected to end on 26 August and the overall business plan is to cease completely on 31 January 2027.
BitMart stated that the cash route would remain open until 31 January 2027, but that some of the requests might trigger additional clearances, including identification, funding, sanctions screening and security checks. Despite the platform ' s release and opening schedule, user feedback indicated that delays in processing and enhanced clearance continued.