BitMart Faces Aug. 19 Deadline Over Delayed Withdrawals

BitMart, a cryptocurrency exchange, is facing a public dispute with individuals claiming to be employees over frozen customer funds and unpaid salaries, all while the platform proceeds with a previously announced winddown of its operations. The confrontation escalated on Monday, August 17, 2026, when a Chinese-language account on X published a five-point demand list directed at founder Sheldon Xia and partner Yi Li, giving them until August 19 to respond.

The demands, posted on an official BitMart account, called for detailed financial disclosures, including wallet addresses, assets, liabilities, and reserves, to verify if the exchange can cover customer balances. The group also sought an explanation for the withdrawal delays, the date management became aware of the problem, and an investigation into all agreements involving customer assets. A third demand cited unpaid salaries and severance for some employees. The final demand required Xia and Li to present a repayment plan for affected users by August 19.

Xia swiftly rejected the claims, stating the account had been hacked and the allegations were "fabricated rumors." He announced plans to file a police report and send a legal...