Big user complaint by BitMart: 27 persons over $3.7 million in assets trapped, requesting response within 24 hours

On 30 July, the user of platform X, @MINGLIbtc, wrote that the BitMart consortium of affected users had issued a public complaint, that 27 users had been registered as at 30 July and that assets that could not be properly cashed totalled over $3.7 million, with individual users up to 700,000 USDT, and that the amount was still increasing. Several users were attracted to stable currency items such as USDG, PYUSD and, upon completion of the KYC, redeemed and cashed as required by the platform, but the exit route was effectively closed. Users point out that the USDG cashing network, which includes both ERC20 and Solana, shows a “suspension”, USDG/USDT, PYUSD/USDT transactions are not normal transactions, and financial users are neither able to make direct cash nor convert to USDT. Large cash withdrawals have been stuck over a long period of time, with only sporadic small cash withdrawals of about 100 USDTs, and the 24-hour cash withdrawal of accounts has been significantly reduced. BitMart announced a phase-out on 26 July, stating that the cash-as-you-go service would continue to be open, but that the actual user encounter was seriously inconsistent with the bulletin. The users raised eight challenges requiring BitMart to disclose the asset support, the custodians, the cash-processing standards and real progress, and to arrange for direct communication within 24 hours between the decision-makers, failing which evidence would be submitted to the police and disclosed to the international media. Users stressed that they would not accept private discounts or instalments and that the primary claim would always be the full return of assets. BitMart had previously revised USDG/USDT, PYUSD/USDT transactions downwards on 21 July and suspended the shipment five days later, raising questions about whether the platform had been informed in advance。