BitMart founder dismisses calls for audit as users report blocked funds, unpaid employees
SummaryBitMart founder Sheldon Lee dismissed as “fabricated rumors” an X post alleging that customers cannot withdraw funds and some employees have not been paid their July salaries, saying the exchanges Chinese-language account was hacked.Users and critics, including onchain investigator ZachXBT, are demanding that BitMart restore withdrawals or submit to independent third-party audits, as the exchange winds down operations ahead of its final trading day on Aug. 26.Distressed investment firm Echo Base said it proposed a funded restructuring package for BitMart but received no response, warning that the situation is unlikely to be resolved without a court process to address widespread customer claims. BitMart founder Sheldon Lee dismissed calls to explain why, according to a post on X, some customers of the exchange are unable to withdraw their funds and some employees were not paid their July salaries. The post on the exchanges Chinese-language account, which Lee said had been hacked, called on him and business partner Yi Li to open the books, including wallets, assets, liabilities, and usable reserves, to independent verification. It gave Lee until Aug. 19 to respond. Last month, BitMart said it was winding down operations and Aug. 26 would be the final trading day. Many users are reporting withdrawals









