Bitmart to Shut Down After 9 Years; BMX Plunges 60%

• Bitmart announced global shutdown, BMX price fell 60%
• Rapid consecutive exchange closures raise stability concerns

On July 26, 2026, Cryptopolitan reported that crypto exchange Bitmart will shut down globally after nine years of operation, initiating the winding down of its platform. Bitmart began the process immediately by blocking new user registrations and deposits across its services. The exchange set an end date for all trading activity in August and notified users to withdraw funds and update account verification by August 26. Bitmart stated it will fully halt operations by January 31, 2027, with enhanced regulatory checks applied to withdrawal requests. Any withdrawals not completed before the deadline will be processed afterward, according to the exchange’s notice.

Bitmart’s announcement led to a sudden 60% crash in the value of its native token, BMX, as trading volume dropped and user confidence declined. Cryptopolitan attributed the token’s rapid fall to Bitmart’s shutdown, citing immediate market reactions and widespread withdrawal notifications sent to account holders.

Meanwhile, Reuters reported on July 23, 2026, that BitMEX, another major global crypto exchange, closed its doors four days prior to Bitmart’s announcement. The consecutive shutdowns mark two major trading platform exits within a week, intensifying disruption across the cryptocurrency sector. Both exchanges had been central players in global trading and token issuance, and their closures raised serious concerns about the stability of centralized trading platforms and the risks associated with exchange-linked tokens.

According to Cryptopolitan and Reuters, these closures exposed vulnerabilities in the market and forced users to reconsider the safety of holding assets on centralized exchanges and in native tokens tied to platform viability.