Dear BitMart Users,

Following careful consideration, BitMart has appointed Alvarez & Marsal ("A&M") as its external financial adviser. A&M will assist BitMart and its legal advisers in conducting an assessment of BitMart’s financial position, stakeholder issues and arrangements for orderly withdrawals, assist in evaluating available options, and support the development of a near-term action plan.

With A&M now engaged, BitMart intends to provide a further update within the next three weeks on a rolling basis regarding user feedback channels, the collection of user concerns, and the action plan. BitMart, together with A&M, will conduct an assessment of BitMart’s current operations, evaluate BitMart’s assets and financial position and assess potential paths forward, including the details of a possible orderly resumption of operations and alternative options that have been put forward by interested third parties, and take into account user feedback in this process. 

In terms of immediate next steps:

·   We are fully aware that users have significant concerns regarding withdrawal arrangements, asset status, and subsequent related procedures. All relevant data must be subject to verification by an independent financial adviser before being disclosed externally to ensure its accuracy and authenticity. This is the reason we engaged A&M. To facilitate the centralized collection of user opinions and feedback, BitMart will establish a dedicated web portal as a unified channel for comments on our action plan and future direction. Feedback received will be carefully considered and evaluated, and will be incorporated into our ongoing assessment and planning efforts. The link to the web portal will be made available and announced to all users via an official notice within 5 working days. As for important issues of general concern expressed by users on the portal, we will respond to them in due course through subsequent announcements and communications.

·   BitMart also intends to appoint an independent third party in the near term to provide oversight of the company’s operations and safekeeping of assets during this period, helping to ensure that users’ interests remain protected.

We fully understand that the withdrawal restrictions imposed over the past period have inevitably caused unease, disappointment, and even anxiety among our users. We understand the inconvenience this has caused, and we greatly value our users’ right to express their concerns through reasonable and lawful channels.

At the same time, we sincerely call on all parties to maintain rational communication and to express their views and demands through lawful and appropriate means. We particularly hope to avoid any acts of harassment, threats, or invasion of personal privacy directed at individual employees. Over the past nine years, our users have always been the foundation of BitMart’s growth. Without our users, BitMart would not exist as it does today.

At this stage, our primary focus is on addressing the issues at hand and developing a near-term action plan. With the support of advisers, we also intend to establish a more structured, transparent, and constructive framework for communication and engagement with our users, and will provide regular progress updates.

Thank you for your continued patience and understanding while this work is undertaken.

For any immediate inquiries about this announcement, please contact: [email protected]

BitMart Team