🚨 NEW ON-CHAIN FINDINGS ABOUT BITMART — WHERE IS OUR MONEY?
While BitMart users are still unable to withdraw their own funds, on-chain investigators continue tracing large transfers from wallets attributed to BitMart that took place before withdrawals were effectively shut down.
According to the published on-chain analysis:
~31.51M USDT on BSC
Destination address:
0x86dbf9ca4e14709668880f2a25590fc9d700370f
The analysis reportedly counted only transfers of $100,000 or more between April and July 2026.
~41.9M USDT on Ethereum
Sender:
0x2982bB64bcd07Ac3315C32Cb2BB7e5E8a2De7d67
Destination:
0x86dbf9ca4e14709668880f2a25590fc9d700370f
That is approximately $73.41 MILLION USDT across BSC and Ethereum alone.
Another ~14.2M USDT reportedly moved through TRC20:
TQsZjoDzJqZgnpmBKNqJaYWGWjs4ZkpnX
According to the published analysis, this address recorded 66 transactions totaling approximately 14.2M USDT between April 2 and July 24.
Investigators also say that SOL, AVAX, ARB and other networks are still being analyzed.
And after all of this, Sheldon says there is no money?
On-chain investigators are reporting tens of millions of USDT transferred from wallets attributed to BitMart before withdrawals were effectively shut down.
Meanwhile, BitMart users cannot access their own money. People cannot withdraw even $1.
So where did these tens of millions go?
Who controlled the destination accounts and addresses? Why were such enormous amounts being transferred shortly before users lost access to their funds?
In my view, what is happening looks less and less like a simple “delay” or technical issue. It looks like assets continue to be moved through different wallets, companies and structures while users remain locked out and unable to withdraw their own money.
If these funds belong to customers, an even more serious question needs to be answered: why are they being moved instead of returned to their owners? And will there be anything left to recover by the time users are finally able to enforce their claims?
If these transfers were legitimate asset consolidation, then @BitMartExchange and @sheldonbitmart should publish the complete wallet list, transaction history, all related entities, customer liabilities, and independently verified Proof of Reserves.
If everything is legitimate and the money has not disappeared, prove it on-chain.
We don't need another announcement about a future announcement. We don't need another form.
Show the money. Show the wallets. Show the related companies. Show the liabilities. Explain the transfers.
Almost two months later, people still cannot access their own funds.
Until BitMart provides a transparent and independently verifiable explanation for these transfers, one question remains:
WHERE IS OUR MONEY, SHELDON?
@BitMartExchange@sheldonbitmart@cz_binance@star_okx
#BitMart #USDT #Crypto #Binance #CryptoNews
❓️What the fuck is going on here?
People have been unable to withdraw their own money for almost two months, and you spent an entire fucking week preparing an “update” just to give us a new button to submit another form?
Seriously, Sheldon? This is your action plan? Another form, another portal, another way to buy more time?
We don’t need another button. We don’t need another “feedback portal.” You already know exactly what the problem is: people cannot withdraw their money.
Enable withdrawals. Return users’ funds. Publish verifiable information showing where customer assets are and give us a concrete timeline for when they will be returned.
Enough forms. Enough promises. WHERE IS THE MONEY?
@Astro_Boy020 Gak ribet, yg salah ya yg nyenggol. Mau pelari main hp kek main leptop kek main pc sambil lari bodo amat, yg jelas yg melakukan aksi merugikan yg nabrak, toh si pelari gak lari ditengah jalan. Mau pelari marah atau nggak tanggung jawab itu obyektif, mana yg rugi harus ditutup.
Update regarding my Bitmart Withdrawal!
Still on hold, newest update it not automatically cancelled.. but status update to creted and stuck!
Are u serious? I really need this money for my mom medical treatment chemotherapy
@BitMartExchange
I have NO idea how this has basically zero coverage.
@BitMartExchange still owes users tens of millions of dollars in funds, likely $30,000,000 - $100,000,000+
Still spreading awareness for those people.
BitMart has my money it’s been 30 Days we need answers. I’m not a rich person this is all I have I was recently fired and I have no money someone please get this message out ya boy is struggling
🚨 THIS IS NO LONGER JUST ABOUT FROZEN WITHDRAWALS. WE ARE TALKING ABOUT HUMAN LIVES.
We are already receiving messages from relatives of users about people who committed suicide after losing access to their money.
Today, a family from India contacted me. According to them, their brother committed suicide after approximately $1,500 of his funds became tied up in the situation surrounding BitMart. The family is ready to provide information and participate in the legal process.
We are publishing this as a statement from the relatives; the circumstances of the death and any possible connection to BitMart must be officially established by the competent authorities.
Sheldon, we are talking about just $1,500.
Even if we believe BitMart’s displayed withdrawal limit of up to $2,000 per day, why couldn’t this person withdraw even his own $1,500?
How much more has to happen before users are given access to their own funds?
This message and other similar testimonies must be preserved and provided to lawyers and law enforcement authorities.
Behind the numbers on the screen are real people and real families.
Share this. Stories like this cannot be allowed to go unnoticed.
Bitmart and Sheldon first off all you guys announced so called orderly wind down on 26th July and freeze all user's assets then completely go silent no one till today withdrawal their assets from bitmart now 21st August bitmart think restore the platform that is completely fine but do you guys ask your user's they are ok with this decision or not restore platform or wind down now this is upto you I and all bitmart user's want our assets 100% don't update later that we will give upto some % because decision you make at your own choice .. not a single user's should affect and 100% user's assets will be available for withdrawal ....thank you
@BitMart_zh@BitMartExchange@sheldonbitmart
#bitmart
#bitcoin
#solana
#bnb
#tron
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.
🚨 @BitMartExchange, your latest statement is misleading users.
Instead of providing concrete answers about withdrawals, BitMart is talking about restructuring and possible future distributions.
So why do the actions of Sheldon Xia (@sheldonbitmart) and BitMart give users serious grounds to suspect fraud?
1. Forced closure of positions.
Trading pairs were delisted without proper advance notice, resulting in the forced closure of both long and short positions. The delisting notice appeared on the website around the same time, and many users simply never saw it.
2. Users cannot withdraw their money while funds continue to move.
On-chain transactions from known wallets associated with BitMart continued despite users being unable to access their funds. Who controls these assets, where are they being sent?
3. No transparent explanation of customer assets.
There is still no clear, independently verifiable information about available assets, liabilities, or a concrete timeline for returning customer funds.
4. Social media accounts and communications disappeared.
According to affected users, members of the team close to Sheldon deleted or removed access to multiple social media accounts. Telegram accounts and conversations were also deleted.
5. Wallet balances dropped dramatically in July.
According to on-chain monitoring by affected users, balances of wallets associated with BitMart fell dramatically — reportedly by roughly two-thirds during July. These movements require a transparent explanation.
6. APRs were increased before the shutdown.
Shortly before the shutdown announcement, users were offered higher APRs — 11% and above — and encouraged to deposit more funds into Savings.
Afterward, funds held in Savings at these rates were moved back to users' spot accounts without the promised interest being credited.
If the platform was already experiencing liquidity or reserve problems at that point, users deserve to know when management became aware of them and why it continued attracting funds.
7. Registrations and deposits remained available after the shutdown announcement.
Despite announcing a shutdown, new users could still register and deposit funds. At the same time, there was no prominent warning on the main page informing users that they might be unable to withdraw their money. As a result, people could continue depositing.
8. Sheldon disappeared from public view while continuing to suggest that everything was fine with the exchange.
Despite the withdrawal crisis and numerous unanswered questions, Sheldon largely disappeared from public communication while publishing statements that created the impression that the situation was under control.
9. Offices were closed, while regulatory claims raise further questions.
Affected users report that BitMart offices have closed. There are also serious questions regarding representations made about BitMart's regulatory/licensing status in Australia.
10. Tens of thousands of affected users are reporting the same problem.
Telegram communities alone contain tens of thousands of people discussing the situation. Accounts may display daily withdrawal limits of approximately $500–$2,000, yet affected users report being unable to withdraw even $1.
11. The situation has spread far beyond the exchange itself.
Personal information concerning members of Sheldon's family, including his wife, has reportedly been published in Chinese darknet communities. According to reports, rewards are also being offered there for information that could help locate Sheldon.
The involvement of White & Case as restructuring counsel does not mean withdrawals have resumed and does not guarantee that customers will recover their funds.
All of these allegations and observed on-chain movements require transparent answers and an independent investigation.
@BitMartExchange: Where are the customer assets? Who controls them now? Where did the funds go? And when will users finally get their money back?
#bitmart