BitMart founder rejects exit-scam claims as withdrawals remain stuck after July 26 winddown
BitMart users and several crypto projects say withdrawal requests have been delayed, with some reporting partial payouts or refusals. Gen6 said about $80,000 in withdrawals were rejected and it filed a complaint with Hungarian police, while Paxi Network and Scandic Coin also reported unprocessed requests. On-chain data cited by Arkham Intelligence put BitMart’s total assets at about $59.3 million, but show just $300,000 in BTC, $235,000 in ETH and $436,000 in USDC, fueling concerns about solvency. Founder Sheldon Xia has denied the exchange is an exit scam.