BitMart has appointed the firm Alvarez & Marsal as its financial adviser. This decision was announced on September 9, 2026, which was the self-imposed deadline for the exchange to release its restructuring and business resumption roadmap. The company did not publish the roadmap as previously planned.
Alvarez & Marsal will collaborate with legal advisers to assess the exchange's current financial position, asset inventory, and stakeholder concerns. The review process will also evaluate potential proposals submitted by third parties. BitMart stated that it is currently exploring various paths forward for the business.
The exchange plans to launch a dedicated web portal within five working days to gather user feedback regarding its action plan. Further updates concerning the feedback process and the company's future direction are expected to be released on a rolling basis over the next three weeks.
Echo Base, representing a committee of claimholders, noted the appointment as a step forward but criticized the lack of transparency. CEO Roshan Dharia highlighted that the company has yet to provide details on its reserve position, asset inventory, recovery estimates, or a specific timetable for user withdrawals.
BitMart has been under scrutiny since July 26, 2026, when it announced a wind-down process following reports of withdrawal delays from its users. Neither BitMart nor Alvarez & Marsal provided comments in response to inquiries regarding the current situation.
