BitMart appoints A&M to review options for resuming withdrawals

Crypto exchange BitMart said it has appointed Alvarez & Marsal, or A&M, as an external financial adviser to review options including an orderly resumption of customer withdrawals after limiting access to client assets following its decision to shut down operations. A&M will assess BitMart’s assets, financial condition, and stakeholder-related matters, while reviewing multiple paths including an orderly restart of withdrawals and the company’s future operating direction. BitMart plans to disclose progress updates and short-term action plans in stages over the next three weeks. The exchange also said it plans to launch a dedicated webpage within five business days to gather user feedback and appoint an independent third party in the near term to oversee company operations and asset custody. Earlier, BitMart customers formed an ad hoc creditor committee to recover frozen assets, and the exchange had said it was considering a restructuring plan that would gradually restore some services.