BitMart Offers Users Three Preliminary Paths in Restructuring Plan
The exchange proposed immediate distributions, recovery tokens tied to a 2021 cyberattack and a future-profit token as it reviews its balance sheet.
BitMart has proposed three preliminary ways for users to recover account assets as the crypto exchange reviews its balance sheet and addresses a shortfall tied to a 2021 cyberattack.
The plan would convert each user’s account balance into a dollar-denominated amount. A court-appointed representative would value those balances using weighted average trading prices for relevant tokens from July 26, 2026, through a later designated period.
Users could choose an immediate distribution in cash, stablecoins and major assets including Bitcoin (BTC), Ether (ETH) and Solana (SOL). They could instead receive a Restitution Token backed by any funds recovered from the 2021 attack, or a Continuum Token tradable on decentralized exchanges.
The Continuum Token would be supported by BitMart’s investment holdings, proceeds from selling illiquid assets and, if financing is secured and operations resume, a share of future project profits.
BitMart has reviewed its assets and liabilities since August while Alvarez & Marsal and White & Case conduct preliminary due diligence. The exchange attributed its financial strain to a weak 2026 crypto market, losses after rebate and zero-slippage incentives in its futures business were exploited, and roughly $319.5 million in digital assets lost during the 2021 attack.
Over the next three to four weeks, BitMart plans to consult its 50 largest users by assets and prepare recovery estimates for all users. The proposal still requires approval before implementation.
