Bitmart Founder Responds After Shutdown Causes Withdrawal Issues
Following widespread user withdrawal issues and unpaid employee wages after Bitmart suspended operations, founder Sheldon broke his silence on X after several days, stating that he has not disappeared and that the core team is still conducting asset reviews, asset consolidation, and system maintenance. He said the goal is to complete an orderly wind-down and asked users to wait for further announcements. Sheldon denied misappropriating assets, withdrawing funds ahead of users, or fleeing, adding that the company is considering involving courts and third-party auditors to provide a transparent report.
After Bitmart shut down on July 26, many users reported withdrawal difficulties, particularly some large holders who had used the platform’s previously offered high APY products for yield opportunities. In addition, most employees, including the CEO, were dismissed several days before the shutdown, with many staff members saying they had not received their final month’s salary. The reason behind Bitmart’s sudden shutdown remains unclear, as development, marketing, and recruitment activities continued as usual just days before the closure. — link