BitMart: security, fees and reviews
Centralized exchange
In short
- Status
- BitMart is winding down: "BitMart has made the difficult decision to commence an orderly wind-down of its trading platform operations." It announced this on 26 July 2026, said all spot, futures and other trading would be discontinued from 26 August 2026 and that platform operations are planned to end on 31 January 2027. Since August 2026 it has been developing a court-sanctioned restructuring plan with White & Case and Alvarez & Marsal and has acknowledged withdrawal restrictions; the court application is targeted for December 2026 / January 2027.
- Legal entity
- GBM Global Inc., Reg. No. 134925, Majuro, Marshall Islands
- Risks and caveats
- BitMart's risk disclosure says assets held with it are not covered by any investor compensation, deposit protection or insurance scheme.
- Checked
- 31 October 2026
Visitor ratings: do you like BitMart?
Key facts
- Type
- Centralized exchange
- Status
- BitMart is winding down: "BitMart has made the difficult decision to commence an orderly wind-down of its trading platform operations." It announced this on 26 July 2026, said all spot, futures and other trading would be discontinued from 26 August 2026 and that platform operations are planned to end on 31 January 2027. Since August 2026 it has been developing a court-sanctioned restructuring plan with White & Case and Alvarez & Marsal and has acknowledged withdrawal restrictions; the court application is targeted for December 2026 / January 2027.
- Exchange launched
- 2018
- Operator
- GBM Global Inc. (Marshall Islands), per the User Agreement
- Official site
- bitmart.com
Key facts checked on 31 October 2026 against official sources.
What is BitMart
BitMart is a centralised crypto exchange (bitmart.com) launched in 2018 that offered spot, margin and futures trading, Earn/Savings products and a BMX token fee discount. Its User Agreement names GBM Global Inc. (Marshall Islands). Since July 2026 it has been winding down and preparing a restructuring plan.
Good to know
- BitMart said it plans to end trading platform operations on 31 January 2027; users can still log in for a period afterwards to view records and request withdrawals. ↗
- BitMart's management proposes a court-sanctioned plan backed by BitMart's assets; this is an initial proposal, not an approved plan. ↗
- BitMart says the December 2021 hack depleted its reserves by about US$319.5 million and caused a balance sheet deficit. ↗
- BitMart U.S. (bitmart.us) is described by BitMart as a separate platform; BitMart stopped new US registrations in May 2022. ↗
- BitMart says it is not registered with the US SEC and does not offer securities services to US persons. ↗
- Accounts inactive two years or more pay a monthly custody fee of 1% or 2% (minimum 10 USDT). ↗
Services
| Parameter | Details |
|---|---|
| Spot trading | Spot trading (BitMart said all spot, futures and other trading would be discontinued from 26 August 2026). |
| Margin | Spot margin discontinued; remaining positions force-liquidated on 26 July 2026. |
| Derivatives | Futures market with its own terms (discontinued with all trading from 26 August 2026 per BitMart). |
| Staking / Earn | Savings (flexible and fixed) and staking under the User Agreement; Savings not available in the US. |
| Own token | BMX: paying fees in BMX gave a 25% discount (July 2026 fee page). |
Security and audits
- BitMart published some ETH/BSC and BTC hot-wallet addresses, describing them as only a portion of its wallets (updated March 2025).
- In May 2026 BitMart said it would publish its proof of reserves 'at an appropriate time'.
- On 4 December 2021 BitMart reported a breach of one ETH and one BSC hot wallet, mainly caused by a stolen private key; about USD 150 million was withdrawn.
Security incidents
| Date | What happened | Source |
|---|---|---|
| 4 December 2021 | Hack: BitMart reported a large-scale security breach of one ETH hot wallet and one BSC hot wallet on 4 December 2021; hackers withdrew assets worth approximately USD 150 million, and BitMart said it was mainly caused by a stolen private key. In September 2026 BitMart put the depletion of its reserves at approximately US$319.5 million (dollarised as of 4 December 2021). Funds returned: BitMart said it would use its own funding to cover the incident and compensate affected users. | support.bitmart.com |
Fees
| Parameter | Details |
|---|---|
| Spot maker / taker | Historical (June 2026 schedule): Regular users Class A 0.10% / 0.10%, Class B 0.25% / 0.25%; trading discontinued from 26 August 2026 per BitMart |
| Futures maker / taker | Historical (June 2026 schedule): Regular users 0.02% / 0.06% |
| BMX discount | 25% discount when fees are paid in BMX (fee page, 31 July 2026 snapshot) |
| Custody fee (inactive accounts) | 1% per month after two years inactive, 2% after three years; minimum 10 USDT per month (as of 31 October 2026) |
Who can use it
- Verification: BitMart may ask users to verify their identity before using its services, to comply with KYC/AML laws.
- Not offered to residents of Cuba, Crimea, France, Hong Kong, Iran, North Korea, the Netherlands, the State of New York and the so-called DNR/LNR; futures also exclude the US, Belgium and others. No new US registrations since May 2022.
History
| Date | Event |
|---|---|
| March 2018 | BitMart Exchange launched with 0% trading fees (an announcement of 20 June 2018 refers to 'the past three months' since launch). |
| 20 June 2018 | Trading fees of 0.05% introduced. |
| 4 December 2021 | Hot-wallet security breach (ETH and BSC hot wallets); withdrawals suspended, then restored by chain during December 2021. |
| May 2022 | Stopped accepting new user registrations from the United States. |
| 31 May 2023 | Announced BitMart Hong Kong platform and planned SFC VASP licence application. |
| 8 October 2023 | Limited new retail registrations from the UK. |
| 23 August 2024 | Terminated services for users from the Netherlands. |
| 25 June 2026 | Announced an Australian Financial Services Licence for 'the relevant BitMart entity' (entity and number not named). |
| 26 July 2026 | Announced orderly wind-down of trading platform operations. |
| 21 August 2026 | Said it is developing a potential restructuring plan; appointed White & Case. |
| 9 September 2026 | Appointed Alvarez & Marsal as financial adviser. |
| 30 September 2026 | Published an initial indicative proposal for a court-sanctioned plan; consultation in October 2026. |
Risks and caveats
- BitMart is winding down and has acknowledged withdrawal restrictions; any return of user funds depends on a restructuring plan that has not been approved by a court.
- BitMart's risk disclosure says assets held with it are not covered by any investor compensation, deposit protection or insurance scheme.
- The operator is a Marshall Islands company; BitMart says it is not registered with the US SEC.
- BitMart says the December 2021 hack caused a balance sheet deficit.
About the company
- Legal entity
- GBM Global Inc., Reg. No. 134925, Majuro, Marshall Islands
- Governing law
- Laws of the Cayman Islands; arbitration
- Founded
- 2018 (exchange launch)
- Advisers (restructuring)
- Alvarez & Marsal (financial adviser); White & Case (restructuring counsel)
- Own token
- BMX
Official links
- Website: www.bitmart.com
- Status: support.bitmart.com/hc/en-us/articles/53544595916059-Important-Notice-Regarding-the-Orderly-Cessation-of-BitMart-Operations
- Terms of use: support.bitmart.com/hc/en-us/articles/115004890354-BITMART-USER-AGREEMENT
- Fees: support.bitmart.com/hc/en-us/articles/51619963454107-BitMart-VIP-Level-Guide
- Security: support.bitmart.com/hc/en-us/articles/18473693031451--Updated-Enhancing-Transparency-and-Trust-at-BitMart
- Blog: support.bitmart.com/hc/en-us
Questions and answers
Is BitMart still operating?
BitMart announced an orderly wind-down on 26 July 2026 and said all trading services would be discontinued from 26 August 2026, with platform operations planned to end on 31 January 2027. Since August 2026 it has been developing a restructuring plan with advisers White & Case and Alvarez & Marsal, and it has acknowledged withdrawal restrictions.
Who operates BitMart?
BitMart's User Agreement (last updated 30 December 2024) names GBM Global Inc., Reg. No. 134925, with an address in Majuro, Marshall Islands. The agreement is governed by the laws of the Cayman Islands.
What happened in the December 2021 BitMart hack?
On 4 December 2021 BitMart reported a breach of one ETH hot wallet and one BSC hot wallet, initially putting the loss at about USD 150 million, and later said it was mainly caused by a stolen private key. In September 2026 it put total losses at about USD 319.5 million (dollarised as of 4 December 2021) and said the incident caused a balance sheet deficit.
Which countries could not use BitMart?
The User Agreement excludes residents of Cuba, Crimea, France, Hong Kong, Iran, North Korea, the Netherlands, the State of New York and the so-called DNR/LNR. BitMart stopped new US registrations in May 2022 and restricted new UK retail registrations from October 2023.
Sources
- BitMart - Orderly cessation notice (26 July 2026)
- BitMart - Restructuring and business resumption update (21 August 2026)
- BitMart - Alvarez & Marsal appointment (9 September 2026)
- BitMart - User engagement portal (16 September 2026)
- BitMart - Initial indicative proposal and roadmap (30 September 2026)
- BitMart - User Agreement
- BitMart - Futures terms
- BitMart - Risk Disclosure Statement
- BitMart - Security breach update (December 2021)
- BitMart - VIP level guide
- BitMart - Fee page (Wayback, 31 July 2026)
- BitMart - About (Wayback, 14 October 2026)
- FinCEN - MSB Registrant Search
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