The founder of BitMart, Sheldon Lee, has dismissed calls for an audit as "fabricated rumors," following reports that users are unable to access their funds and some employees have not received their July salaries.
Lee Claims Hacked Account and Users Demand Transparency
In a post on BitMart's hacked Chinese-language X account, Lee stated that he and his business partner Yi Li should open their financial records, including wallets, assets, and liabilities, for independent verification. The post demanded a response by August 19.
BitMart announced it would cease operations, with the final trading day set for August 26, yet many users are experiencing withdrawal issues.
"As of now, numerous users are still unable to withdraw their funds, and several employees are waiting for their salaries and owed compensations. This situation cannot simply be dismissed as a business disagreement," the post emphasized.
Despite the concerns raised, Lee did not directly address the requests for audits in his response, attributing the claims to the alleged hacking of the account. "We have gathered comprehensive evidence that the content posted is entirely fabricated," he stated, adding that legal actions will be pursued.
When it comes to unpaid employees, Lee asserted that their assets are not prioritized over client assets, indicating that all users are treated equally.
One user, known as BeardStaff, claimed their assets have been inaccessible since the announcement on July 26, while another user questioned Lee’s focus on the account hacking rather than addressing withdrawal issues directly.
Onchain investigator ZachXBT also criticized Lee’s response, urging that if liquidity is available, funds should be returned to users instead of vague assurances.
Roshan Dharia, CEO of distressed investment firm Echo Base, mentioned that his firm had proposed a restructuring plan for BitMart but received no reply, warning that the situation appears unlikely to resolve without legal intervention due to the numerous customer claims involved.
If BitMart fails to provide a verifiable response by the stipulated deadline, the unidentified poster on X indicated they would escalate the matter to law enforcement, regulators, and the media worldwide.