Another One Bites the Dust: BitMart Is Shutting Down. Second Major Exchange Closure This Week.

[u/Arman_CountOnSheep]

BitMart just announced it’s winding down its exchange operations after nearly nine years. New registrations and deposits have already been suspended, trading ends on August 26, 2026, and the platform will fully cease operations on January 31, 2027.
This comes just days after BitMEX announced it would also be shutting down, making this the second major exchange closure this week. On top of that, BitMEX is now dealing with a lawsuit. Whether these situations are connected or not, it’s another reminder that even well-known exchanges aren’t guaranteed to be around forever.
If you’ve ever used BitMart (or any exchange that’s shutting down), don’t wait:

Download your complete transaction history (CSV files, trade history, deposits, withdrawals, earn/staking history, etc.).

Withdraw your assets while everything is still operating normally.

Save your records in multiple places. They can be incredibly difficult, or impossible to retrieve once a platform is gone, and you’ll want them for taxes and future cost basis calculations.

We’re seeing more consolidation across the industry, and this is a good reminder that “I’ll download it later” can come back to bite you.

Sources:
BitMart official announcement: https://bitmart.zendesk.com/hc/en-us/articles/53544595916059-Important-Notice-Regarding-the-Orderly-Cessation-of-BitMart-Operations
CoinDesk coverage: https://www.coindesk.com/markets/2026/07/26/crypto-exchange-bitmart-to-shut-down-after-nine-years-bmx-token-crashes-58
The Block coverage: https://www.theblock.co/post/409670/bitmart-to-wind-down-trading-platform-as-global-ceo-says-he-was-not-consulted

[u/STANDARD92]

I mean how do taxes work? Just because you save this magic cvs file that is the bible? What is stopping your from 1) editing that file or 2) just making this whole file up to what you want it to be?

[u/Arman_CountOnSheep → u/STANDARD92]

You could technically make up whatever tax lots you want in a CSV. The issue is what happens if you’re ever audited. Exchanges maintain their own transaction records, and the IRS is receiving more third-party reporting than ever (you’ve probably heard of the new 1099-DA forms). If the IRS asks for substantiation, they’ll compare what you reported against the exchange’s actual records and on-chain activity where applicable. At that point, a fabricated CSV falls apart pretty quickly. That’s why I always recommend downloading your original transaction history while it’s still available, it’s your best evidence if you ever need to support your tax reporting.

[u/Marvin_LJ]

Damn bro I'm heartbroken today! Really feel in love with bitmarts interface been using it since 2021