The Chinese-language X account of cryptocurrency exchange BitMart demanded that founder Sheldon Xia provide a repayment plan by Aug. 19, citing concerns over blocked withdrawals and unpaid salaries.
Sheldon Xia, the exchange's founder, dismissed the claims as 'fabricated rumors' in a public statement. The X account's post did not specify the amount of funds in question or the nature of the alleged withdrawals. BitMart has not publicly addressed the allegations beyond Xia's response.
The exchange, which operates globally, has not provided additional details regarding the status of user funds or employee payments. The demand for a repayment plan follows heightened scrutiny of cryptocurrency exchanges amid broader market volatility and regulatory uncertainty.
No further statements or updates have been issued by BitMart or Xia regarding the matter as of the latest available information.
