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BitMart Founder Denies Withdrawal and Salary Issues, Trading Ends Aug 26

BitMart founder Sheldon Lee dismissed claims of blocked withdrawals and unpaid July salaries as fabricated rumors, noting the exchange’s Chinese account was hacked. Critics including ZachXBT demand restored withdrawals or an independent audit, while BitMart winds down operations with a final trading day of August 26. Troubled firm Echo Base says its funded restructuring proposal went unanswered, potentially leading to court proceedings for customer claims.

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AI take

The founder's dismissal of withdrawal and salary claims as "fabricated rumors" is undercut by the hacked-account admission and by the fact that an exchange winding down operations faces a credibility test it cannot easily pass. The calls for an independent audit are the real pressure point: without one, the distinction between rumor and insolvency stays unresolved for users. Echo Base's unanswered restructuring proposal suggests the wind-down may end in court rather than a negotiated process, which is where customer claims would actually be sorted.

Generated by AI for reference only.

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