Bitmart Shuts Down After 9 Years as BMX Drops 60%

- Crypto exchange Bitmart announces global closure, to complete shutdown by January 31, 2027 - BMX token plunges 60% following news and amid BitMEX’s similar market exit 2026-07-26 On July 26, 2026, Cryptopolitan reported that Bitmart, a major global crypto exchange, began winding down operations after nine years. The outlet noted that the announcement triggered a 60% crash in Bitmart’s native BMX token. This move followed BitMEX’s closure earlier in the same week and therefore marked the exit of two significant crypto trading platforms in quick succession. According to Cryptopolitan on July 26, 2026, Bitmart has blocked new account creation and deposits and has set a clear timeline for service withdrawal. The exchange will further restrict all trading by August 2026, and users must finish withdrawals and close positions by August 26, 2026. Requests made after that date will be handled separately and will be subject to additional review and know-your-customer (KYC) checks. In addition, the full shutdown process is scheduled to conclude by January 31, 2027. Cryptopolitan reported on July 26, 2026, that Bitmart’s leadership stated the decision followed a comprehensive review of operational and market conditions. The exchange’s closure adds to uncertainty within the cryptocurrency sector and highlights a shift in the competitive landscape. As Bitmart phases out its operations, the BMX token continues to trade at depressed levels, reflecting investor sentiment triggered by the abrupt announcement.