BitMart Users Unite to Sue Over $3.7 Million in Frozen Assets

As of July 30, a group of users affected by large asset freezes on BitMart has publicly accused the platform, with 27 users registered and a total of over $3.7 million in assets unable to be withdrawn, with individual users facing losses of up to 700,000 USDT. Users were primarily attracted by stablecoin financial products such as USDG and PYUSD, and after completing KYC, they redeemed their investments as required by the platform and submitted withdrawal requests. However, the actual withdrawal channels have gradually closed. Users pointed out that the ERC20 and Solana channels for USDG withdrawals both show 'paused', and trading pairs USDG/USDT and PYUSD/USDT cannot be traded normally. Financial product users are unable to withdraw directly or exchange for USDT for withdrawal. Large withdrawals have been stuck for a long time, with only sporadic releases of small withdrawals around 100 USDT, and the withdrawal limit for accounts has been significantly reduced over 24 hours. BitMart announced on July 26 that it would gradually cease operations, stating that withdrawal services would continue, but users' actual experiences are severely inconsistent with the announcement. Users have raised eight questions, demanding that BitMart disclose asset support status, custodians, withdrawal processing standards, and real progress, and arrange for a decision-maker to communicate directly within 24 hours, or they will submit evidence to the police and disclose it to international media. Users emphasized that they do not accept private discounted settlements or installment plans, and their primary demand remains the full return of their assets.