TREE NEWS reports: BitMart’s official Chinese-language X account issued a five-point ultimatum demanding proof of reserves by Aug. 19 and payment of staff, prompting founder Sheldon Xia to call it a hack and promise a police report. The incident raises questions about the exchange’s solvency and security.
BitMart’s X Account Demands Proof of Reserves, Founder Claims Hack
A public proof-of-reserves ultimatum from an exchange's own account, met with a hack claim rather than a denial, leaves the core question unresolved: whether the demands reflect an internal dispute or an external breach. Either reading matters for users, since both solvency transparency and account security are implicated. The founder's promise of a police report gives the claim a verifiable path, and how that proceeds—along with whether the demanded reserve disclosure follows—is what to watch.
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