BitMart Founder Rejects Audit Calls Amid Withdrawals Freeze
BitMart users say funds are blocked and staff unpaid, but the founder is pushing back on transparency demands.
Something is off at BitMart, and traders are starting to feel it in their wallets. Users are reporting blocked withdrawals, a classic red flag in crypto that has preceded exchange collapses before. If your money is sitting on BitMart right now, that should have your full attention.
Making matters worse, reports are surfacing that employees aren't getting paid either. When an exchange can't cover payroll, the liquidity picture inside that platform is almost never pretty. These two signals together — frozen user funds and unpaid staff — form a pattern crypto veterans have seen before, and it rarely ends well for retail depositors.
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Despite the mounting pressure, BitMart's founder is dismissing calls for a formal audit. Transparency through a third-party proof-of-reserves audit is the bare minimum traders should expect from any centralized exchange holding customer assets. Refusing that request, or brushing it aside, tells you something. Actions speak louder than press releases.
The broader lesson here is one the market keeps having to relearn: not your keys, not your coins. Centralized exchanges carry counterparty risk that self-custody eliminates entirely. Until BitMart produces verifiable proof that customer funds are safe and fully accessible, treating this situation as anything other than high-risk would be a mistake. Watch the on-chain flows, watch withdrawal status updates from the community, and don't wait for an official statement that may never come.
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