BitMart

BitMart is a centralized cryptocurrency exchange founded in 2017 by Sheldon Xia and launched in 2018. Operated by bachi.tech and headquartered in Grand Cayman, Cayman Islands, the platform quickly expanded to serve users in over 180 countries. It offers spot and derivatives trading, staking, a peer-to-peer marketplace, an NFT launchpad, and its own native token BMX. Investopedia named it Best For Altcoins for three consecutive years (2022-2024), and CNBC included it in the Top 200 Global Fintech Companies in 2023.

The exchange suffered a major security breach in December 2021, when hackers stole approximately $196-200 million in cryptocurrency, wiping out two-thirds of customer funds. BitMart stated it would compensate victims and restored trading within days. The incident led to the Federal Trade Commission's first-ever cryptocurrency probe in 2022, targeting BitMart's security practices. The exchange has since strengthened compliance partnerships with firms like Notabene and Elliptic, and supported UNICEF initiatives for youth financial literacy in Brazil.

In July 2026, BitMart confirmed an orderly wind-down of all operations, citing an internal review. The exchange discontinued spot margin trading and suspended its automated market-making bot service. On-chain data showed no withdrawals above $25,000 in the day following the announcement. Notices were issued requiring U.S. users to complete actions by August 8, 2026, suggesting a full withdrawal from the American market. The wind-down marks the end of a platform that once ranked 16th among global crypto exchanges by volume, with daily trading averaging $500 million to $1 billion and over 12 million users as of mid-2025. [edit]