PenguInCrypto retweetledi
I have typed & deleted this post 20+ times but i cannot stay silent any longer regardless of consequences.
Last week has been very challenging for me personally due to everything happened with BitMart.
But everything i learnt after cessation of operations at BitMart has shattered my understanding of company & its operations.
My heart goes out to all the users & affected employees.
While i am not 100% certain, the way things happened over last couple of months & connecting the dots….Article shared below seems to provide a good timeline on what happened.
The current situation is they’ve revoked all employee access & few of my colleagues have 1 to 24 month’s worth of their salary stuck on BitMart, pending withdrawals since 26th July.
Over the past week i & many of my colleagues have personally collected withdrawal related issues & shared it with relevant team but there has been complete silence from the relevant teams including sheldon who read all the texts before revoking our entire access today.
Below are my personal thoughts on the situation based on my experience in past few days.
I do not understand the point in Ceasing operations of profitable exchange like BitMart unless there is huge hole in the balance sheet.
But if there indeed is hole, only way was to declare bankruptcy & not allow withdrawals to selected users ( i also suspect they’re mixing withdrawals of real users along with internal wallets in order to siphon off funds )
Currently BitMart’s hot wallet are being filled by Binance (probably someone in senior management with account in Binance) , someone from @binance can help with more details regarding who is involved.
In the end i hope my analysis & understanding of situation is wrong & users will be made whole.
Bitmart HQ@Bitmarthuanqian
English
