BitMart misses roadmap deadline, appoints financial adviser

BitMart said it has appointed Alvarez & Marsal as financial adviser after missing its own Sept. 9 deadline to release a restructuring and business resumption plan. The firm said the adviser will work with its legal team to review assets, financial position, stakeholder issues, and possible next steps. BitMart also said it will open a feedback portal within five working days so users can submit views on its plan and future direction. The exchange has faced growing scrutiny since its July 26 winddown announcement, when users reported withdrawal delays. An ad hoc committee representing claimholders said the adviser appointment was a positive development, but also noted that BitMart still has not disclosed key details such as reserve levels, asset inventory, recovery estimates, or a withdrawal timetable.