King David

[King David @KingDavid21973]

Bitmart tracker update on filed claims or reports submitted. Chat GPT

BitMart update — September 2, 2026: There is one substantive new legal development.
On September 1, Sonn Law Group announced that it has opened an investigation into potential claims and recovery options for BitMart customers with $500,000 or more trapped or inaccessible on the exchange. The investigation specifically covers BitMart's withdrawal restrictions, its restructuring, the corporate entities involved, the custody and location of customer assets, BitMart's U.S. connections, and potential avenues for recovering customer funds. �
Sonn Law Group
This is significant because it is the first new U.S. legal investigation I found since the previous check specifically aimed at recovering inaccessible BitMart customer assets. The firm also flags the possibility that customers' rights could be affected by a future restructuring or creditor-claims process. �
Sonn Law Group
Sonn Law Group's BitMart investigation announcement⁠�
Separately, BitMart did proceed with its previously announced August 26 trading shutdown, while reports of inaccessible withdrawals continued. BitMart still has not publicly disclosed its reserve total, liability total, recovery percentage, claims register, or timetable for resolving pending withdrawals. �
https://t.co/V2OoVQZtas +1
I found no newly announced SEC, CFTC, DOJ enforcement action or formal U.S. insolvency proceeding against BitMart in this check. The next major date remains September 9, when BitMart has said it will provide its restructuring roadmap. �
https://t.co/HefA2DGDDi

[King David @KingDavid21973]

Another Day and its now officially one month and my funds are still frozen. Still silence from Sheldon and his Bitch ass Bitmart. Nothing being done and nothing going to be done.

[King David @KingDavid21973]

BitMart’s restructuring announcement does not resolve the withdrawal crisis. Customers were told withdrawals would remain available during the wind-down, yet many users still cannot access their funds.
The core issue is simple:
If customer assets are fully backed, why can’t customers withdraw them?
BitMart is now discussing restructuring, creditor distributions, and future plans instead of providing clear answers about current customer balances, liabilities, available reserves, or a firm withdrawal timeline.
Affected users should act now, not wait.
BitMart’s own User Agreement requires a formal complaint before arbitration, and it contains a batch-arbitration process for 100 or more substantially similar claims. That could give coordinated users a powerful legal path if handled by the same law firm or organization.
Potential civil claims may include breach of contract, conversion, misrepresentation, consumer-protection violations, and restitution, depending on the evidence and jurisdiction.
The most important evidence to preserve includes:
account balances and withdrawal attempts
transaction IDs and blockchain hashes
support communications
BitMart’s wind-down notices
promotional offers made before the shutdown
wallet movements linked to BitMart
screenshots showing frozen or inaccessible funds
Claims of fraud or insolvency should not be stated as proven unless supported by evidence. The stronger legal position is to demand answers to the questions BitMart has still not answered:
Where are the customer assets?
Are they fully backed?
Why are withdrawals blocked?
Who controls the assets now?
Are customers being treated as creditors?
What is the actual shortfall, if any?
Retaining restructuring lawyers does not excuse BitMart from accounting for customer assets.
The strongest response is:
Demand the funds. Preserve the evidence. Coordinate affected users. Trigger the formal complaint process. Prepare coordinated arbitration or litigation. Require BitMart to prove where the money is.

[King David @KingDavid21973]

https://t.co/OsPhGJFnqQ Immediate Legal action seems to be the direction this needs to go with Bitmarts about face and disregard for user funds, and its utter lack of financial transparency. Follow the money trail and it will show you where we all are in the Bitmart exit scam. Its necessary time wise to pursue this legally without hesitation and file a collective lawsuit together against Bitmart. However, we all should not wait on eachother to be first on grabbing a pair to initiate it. Thats If we want our money back along with some sense of justice.

[King David @KingDavid21973]

The so-called “hack” explanation does not answer the central question: what does it have to do with customers being unable to access and withdraw their own funds?
BitMart cannot continue withholding customer assets while offering one explanation after another without providing clear evidence showing exactly what happened to the funds.
My question is simple: How materially different is this from the warning signs we saw before FTX collapsed?
I personally still have approximately $24,000 trapped on BitMart, and many other users are publicly reporting significant balances that they cannot withdraw. BitMart announced a wind-down process, yet customers have been unable to complete withdrawals as promised.
Where are the customer assets?
Based on what I am seeing, I am concerned that BitMart may be facing a serious liquidity or solvency problem. I cannot prove insolvency, but if the company had sufficient liquid assets available to satisfy customer withdrawals, then BitMart needs to explain why those withdrawals remain frozen or incomplete.
I also believe the scale of this deserves immediate investigative reporting. If millions of dollars in customer assets remain inaccessible as BitMart approaches its August 26, 2026 deadline, regulators, law enforcement, attorneys, and the media need to be examining what is happening now—not after the platform closes.

[King David @KingDavid21973]

@mattis_urs @CryptoastMedia Sure.

[King David @KingDavid21973]

So my final day with the last withdraw sent, but all assets still frozen and being held captive since I began my $2000 a day withdraw journey from August 1, 2026 from Bitmarts bullshit wind down. The 26th is coming fast and at this point Im not holding my breath. This is a blatant about face and walk away with our assets.

[King David @KingDavid21973]

https://t.co/K2c1qf8Isp

[King David @KingDavid21973]

Im so sorry man. I feel you. I have no words. The only reason why I sent withdrawals everyday was, because im doing it for legal recourse. I wanted to show that I made every effort to follow the fake wind down procedures. But those with impossible balances to move, just get as many pics and proofs of your account, attempts to send or contact them for help. you name it document it. Keep it all together for lawsuits or legal proceedings for the future. It's pretty obvious Sheldon is not releasing anyone's funds or
following his own wind down process. We are not screaming loud enough. This is looking pretty sus so far in every way.

[King David @KingDavid21973]

Bitmart xp just another excuse. Your explanation does not adequately address the issue.
You state that the “most likely” cause was an invalid receiving wallet caused by a “glitch” related to BitMart’s wind-down. That is speculation, not a technical explanation supported by transaction records.
The receiving wallet was valid. More importantly, BitMart successfully processed another withdrawal of my test $5 to the receiving destination while other withdrawals of larger sums remained frozen or failed to complete. That directly calls into question the claim that the receiving wallet itself was invalid.
If BitMart believes the receiving wallet was invalid, please provide the actual technical evidence showing:
Which withdrawal transaction was rejected because of an invalid destination address.
The exact error code or blockchain/network error generated.
Whether the withdrawal was ever broadcast to the blockchain.
The transaction hash, if one exists.
Why the funds were placed into “frozen” status rather than simply returned to the available balance.
Why other withdrawals were successfully processed if the receiving wallet was supposedly invalid.
What specific BitMart system malfunction occurred during the wind-down and when it was identified.
Saying that the withdrawal system was “most likely to malfunction” because only withdrawals remained open does not explain why customer assets became inaccessible. If BitMart's own wind-down process caused its withdrawal system to malfunction, that is a platform-side issue—not a receiving-wallet issue.
Please provide the documented cause of the failed/frozen withdrawals rather than a hypothetical explanation, and provide a concrete process for releasing the remaining frozen assets.

[King David @KingDavid21973]

If you are in the US and are a victim of Bitmarts Exit Scam. Here all the agencies I could pull together to file your complaints. Let your voice be heard to the public about this FTX parallel! There is power in the number of complaints submitted from every region, we are all being affected. Sheldon we are holding You and Bitmart liable for your insolvency. Since your wind down on July 26th, 2026, my $24,000 is still being held hostage and frozen. Its criminal charges Im going after. Release our funds! Quit stalling! No more delays. Dont forget about the end results of what happened to Sam Bankman Freud when he ran with user funds 2022. I sincerely hope this is not the direction you intend to go.

These are the main official U.S. reporting websites for cryptocurrency fraud, securities violations, commodities violations, criminal conduct, and consumer financial violations.
SEC — Securities fraud / securities-law violations
Use for suspected investment fraud, market manipulation, misleading statements, unregistered securities activity, or other federal securities violations involving crypto.
SEC Tips, Complaints & Referrals: https://t.co/wfu1kqkjx0…⁠� �
Securities and Exchange Commission +1
CFTC — Commodity / digital-asset fraud and manipulation
Use for fraud or manipulation involving digital commodities and crypto derivatives. The CFTC states it has enforcement authority over fraud and manipulation in spot digital commodity markets and broader authority over derivatives.
CFTC Complaint: https://t.co/J8swCunLZq⁠� �
CFTC Whistleblower Program: https://t.co/hmJMvxNVQT…⁠� �
Commodity Futures Trading Commission +1
Commodity Futures Trading Commission

FBI — Internet Crime Complaint Center (IC3)
This is one of the most important reports for suspected criminal cryptocurrency fraud, theft, wire fraud, cybercrime, exchange fraud, or fraudulent schemes. The FBI specifically directs cryptocurrency scam victims here.
IC3 cryptocurrency reporting: https://t.co/2Sr2GvxypI…⁠�
Direct complaint portal: https://t.co/J4hchKjkHL⁠� �
Internet Crime Complaint Center +1
FBI — General criminal tip
For suspected federal crimes beyond the normal IC3 complaint categories.
FBI Tips: https://t.co/P9ItviRugw⁠� �
Department of Justice
Federal Trade Commission — Fraud / deceptive business practices
Use for cryptocurrency scams, fraud, deceptive representations, and unfair business practices.

FTC ReportFraud: https://t.co/p52BYTbpcx⁠� �
https://t.co/S3Q32Uop3M
Department of Justice — Criminal fraud resources
DOJ's Criminal Division directs different types of fraud to the appropriate federal authorities, including FBI/IC3, SEC and FTC.
DOJ Report Fraud: https://t.co/ur9b8wFduR…⁠� �
Department of Justice

CFPB — Consumer Financial Protection Bureau
Particularly relevant when the complaint involves a crypto exchange, frozen account, inability to access assets, virtual-currency transaction, money transfer, or financial service. CFPB currently accepts complaints involving “money transfers, virtual currency, and money services.”
CFPB Complaint: https://t.co/PLXN0pCBmV⁠� �
Consumer Financial Protection Bureau +1
State Attorney General — Consumer fraud / unfair business practices
File with your state AG in addition to the federal reports.
Find your State Attorney General complaint portal: https://t.co/pHtejhhujV…⁠� �
NAAG

State Securities Regulator — State securities violations
State securities regulators can investigate investment and crypto-related securities violations independently of the SEC.
Find your state securities regulator: https://t.co/93PCQdRHe9…⁠�

[King David @KingDavid21973]

If you are in the US and are a victim of Bitmarts Exit Scam. Here all the agencies I could pull together to file your complaints. Let your voice be heard to the public about this FTX parallel! There is power in the number of complaints submitted from every region, we are all being affected. Sheldon we are holding You and Bitmart liable for your insolvency. Since your wind down on July 26th, 2026, my $24,000 is still being held hostage and frozen. Its criminal charges Im going after. Release our funds! Quit stalling! No more delays. Dont forget about the end results of what happened to Sam Bankman Freud when he ran with user funds 2022. I sincerely hope this is not the direction you intend to go.

These are the main official U.S. reporting websites for cryptocurrency fraud, securities violations, commodities violations, criminal conduct, and consumer financial violations.
SEC — Securities fraud / securities-law violations
Use for suspected investment fraud, market manipulation, misleading statements, unregistered securities activity, or other federal securities violations involving crypto.
SEC Tips, Complaints & Referrals: https://t.co/kXQpQKLgBU⁠� �
Securities and Exchange Commission +1
CFTC — Commodity / digital-asset fraud and manipulation
Use for fraud or manipulation involving digital commodities and crypto derivatives. The CFTC states it has enforcement authority over fraud and manipulation in spot digital commodity markets and broader authority over derivatives.
CFTC Complaint: https://t.co/J8swCunLZq⁠� �
CFTC Whistleblower Program: https://t.co/xuWHgN2TXD⁠� �
Commodity Futures Trading Commission +1
Commodity Futures Trading Commission

FBI — Internet Crime Complaint Center (IC3)
This is one of the most important reports for suspected criminal cryptocurrency fraud, theft, wire fraud, cybercrime, exchange fraud, or fraudulent schemes. The FBI specifically directs cryptocurrency scam victims here.
IC3 cryptocurrency reporting: https://t.co/CZ8UZrIlIS⁠�
Direct complaint portal: https://t.co/J4hchKjkHL⁠� �
Internet Crime Complaint Center +1
FBI — General criminal tip
For suspected federal crimes beyond the normal IC3 complaint categories.
FBI Tips: https://t.co/P9ItviRugw⁠� �
Department of Justice
Federal Trade Commission — Fraud / deceptive business practices
Use for cryptocurrency scams, fraud, deceptive representations, and unfair business practices.

FTC ReportFraud: https://t.co/p52BYTbpcx⁠� �
https://t.co/S3Q32Uop3M
Department of Justice — Criminal fraud resources
DOJ's Criminal Division directs different types of fraud to the appropriate federal authorities, including FBI/IC3, SEC and FTC.
DOJ Report Fraud: https://t.co/arq5manWov⁠� �
Department of Justice

CFPB — Consumer Financial Protection Bureau
Particularly relevant when the complaint involves a crypto exchange, frozen account, inability to access assets, virtual-currency transaction, money transfer, or financial service. CFPB currently accepts complaints involving “money transfers, virtual currency, and money services.”
CFPB Complaint: https://t.co/PLXN0pCBmV⁠� �
Consumer Financial Protection Bureau +1
State Attorney General — Consumer fraud / unfair business practices
File with your state AG in addition to the federal reports.
Find your State Attorney General complaint portal: https://t.co/mHikox2FHD⁠� �
NAAG

State Securities Regulator — State securities violations
State securities regulators can investigate investment and crypto-related securities violations independently of the SEC.
Find your state securities regulator: https://t.co/8F2Ue5mcqi⁠�

[King David @KingDavid21973]

One word so far that represents Bitmarts wind-down. "Insolvent" That's why no withdraws are happening. That's the reason Sheldon is so quiet, because of the lack of funds to pay off his debts. This can be the only truth at this point. Release our funds. No more talk! You will not get away with this without legal and criminal repercussions and consequences I promise you.

[King David @KingDavid21973]

Another Day with the Bitmart freeze on withdrawls Aug 9th, 2026 and still the same balance right below 24k being held captive that I started with before my first withdrawls began on 8/1/2026. Literally Only one successful transaction of less than $5 after fees made it out of my account since then. Sheldon can keep his appearances and responses to himself if withdraw transactions are not being processed in a timely fashion. He writes us one letter and its all peachy🍑 now. The only thing I got out of his entire useless speach was that our funds are still safe in his custody not ours. The rest was a bunch of you problems, postponements, excuses, delays and lip service. Release the withdraws already man! The users are the only ones in compliance at this point. To me until I have my money off of Bitmarts platform this still qualifies as an exit scam until proven otherwise.

[King David @KingDavid21973]

This is a joke, right?
BitMart finally allowed $5 of my approximately $24,000 in assets to be successfully withdrawn today. That withdrawal came from a $10 test transaction I submitted on August 3, 2026.
Meanwhile, approximately $4,000 in Ethereum that I attempted to withdraw on August 1, 2026—two days earlier—still has not completed.
Sheldon, why is BitMart holding our funds while releasing them to us in crumbs? Please stop playing around with people's money and release our assets.
You are finally speaking publicly after being largely absent since the beginning of BitMart's U.S. wind-down process. That silence created enormous fear, uncertainty, and distrust among customers who were repeatedly calling for help with stuck withdrawals and receiving little or no response.
What took so long?
Many of us were beginning to wonder whether this was another FTX scenario unfolding. This has felt more like a letdown than a wind-down.
You have now mentioned courts and third parties becoming involved. Whatever legal or business complications BitMart is dealing with internally should not become the customers' burden. We deposited our assets with BitMart, and we are simply asking to receive them back in a timely manner.
We are following BitMart's wind-down procedures. We are submitting withdrawal requests. We are documenting transaction attempts, freezes, reversals, communications, and delays.
Yet BitMart is still holding our assets.
Until those assets are released, this situation is not resolved.
We want our withdrawals processed now—not next year at a $5-at-a-time pace. That is unacceptable.
Many of us trusted BitMart. Please do not continue to destroy that trust through silence, delays, politics, or explanations that do nothing to return customers' money.
Put yourself in our shoes for a moment. Beyond the numbers on a screen, these funds represent years of work, sacrifice, blood, sweat, and tears for real people.
Show some human compassion for the customers who trusted your company.
Please release our funds and fix these withdrawal problems immediately.

[King David @KingDavid21973]

Let's all be realistic. Bitmart created some fake wind down notice to the users, with an impossible withdraw structure of min, $2000 max per day withdrawal limit for us citizens by the 8th of August 26. It was made impossible, because they intended it that way. No compliance or answers back to our withdrawl inquiries tells you the entire story without one word. Their message was nonretorical. Let's just see how they intend to pull this magical rabbit out of their asses to fix:

1. Traffic Jam of thousands of
backlogged withdrawl requests.
2. The Zero staff at Bitmart to look
at each submission and move
withdrawls to beat the 8th-28th
deadline.
3. The poor users that are stuck
with well over 4,5, and 6 figures
to move off the platform at
$2000 a day pace nonsense.
4. The Ghost town at Bitmart = MIA

[King David @KingDavid21973]

@Commentaryz1ep 10

[King David @KingDavid21973]

Today I Filed Reports against Bitmart with Federal Exchange commission and the Sec. I hope everyone keeps documentation and pics of time stamps of your withdraws, frozen funds, any contacts with Bitmart if any. I am following what Bitmart asked us to do on July 26th 2026 and submit all the withdraws in my funds account. Even though it keeps getting sent back frozen to my funds wallet im still legally doing my part so that when the 26th of Aug deadline hits I would have made every legitimate attempt to comply with the withdraw requests submitted for legal purposes. However With a limit of $2000 per day I don't know how anyone over 40k is going to be able to process that timeline. I have 24k stuck and I will try to submit it all, but realistically, Zero compliance from Bitmart will make this very impossible for them to manage all these requests before the due date. This blatant disregard for our hard earned funds will lead to multiple class action lawsuits and I will be right there with you guys to see it through- so tag me if you got one going already. I know this shit hurts , keep your chin up, you are not alone and we always have a voice we just have to make it heard!. My way of doing it is staying active here and giving you my updates plus I Submitted all my info on Bitmarts bs to both these agencies even if its not much now it shows that you did your due diligence legally to follow the bitmart wind down to the T, then it shows negligence on Bitmarts part. I'm already building a case against these exit scamming f×ck$.