BitMart Account Demands Answers Over Frozen User Funds and Unpaid Salaries

One of the exchange's founders said the Chinese-language account had been compromised and was not being operated by current employees. BitMart’s Chinese-language account has demanded answers from founders Sheldon Lee and Yi Li over frozen user funds and unpaid employee salaries, giving them until August 19 to respond publicly. The statement also calls for verifiable asset disclosures and a detailed repayment plan as questions grow over what happened to funds held on the exchange. BitMart Faces Questions Over User Funds and Withdrawals In a post published on August 17, the account said many users still cannot withdraw their funds, while some employees have yet to receive their final salaries or compensation. “This isn’t some business dispute that can be brushed off with a single ‘ceasing operations’ statement,” it wrote. The statement demanded evidence showing BitMart’s current wallets, assets, liabilities, and usable reserves. It also asked management to explain who restricted withdrawals, when the decision was made, and when executives first knew users could no longer withdraw normally. The account further questioned whether BitMart continued encouraging deposits or trading after ...