The open letter, addressed to founders Sheldon Lee and Yi Li, alleges that many customers remain unable to access their funds despite the platform’s wind-down process. Beyond the withdrawal issues, the group is seeking transparency regarding unpaid employee salaries and compensation. The statement specifically calls for a verifiable breakdown of wallets, assets, and liabilities, urging the exchange to submit to an independent third-party audit rather than relying on internal financial assertions.
In section Cryptocurrency
BitMart users and staff set August 19 deadline for financial clarity
A group of BitMart users and employees has issued a formal demand for the exchange to disclose its full financial reserves, explain ongoing withdrawal restrictions, and provide a concrete repayment plan by August 19. The ultimatum follows the firm’s recent announcement that it will cease all operations by early 2027.
Management previously attributed the closure to general market conditions, yet the authors of the letter contend that the shutdown notice fails to address the underlying liquidity concerns. The group has also requested an investigation into affiliated entities and specific accounts linked to Yi Li, citing records that purportedly show large-scale fund transfers. Should BitMart fail to respond by the August 19 deadline, the group stated it is prepared to escalate the matter by submitting evidence to law enforcement agencies and regulators across multiple jurisdictions.
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