BitMart founder's request for an audit ignored...Withdrawal restrictions and unpaid salaries exposed

BitMart founder Sheldon Lee dismissed allegations of customer withdrawal restrictions and unpaid July salaries as "fabricated rumors." The allegations were raised through BitMart's official Chinese X account, and Lee claimed the account had been hacked, refusing to directly address the demands for an independent audit. BitMart, which declared August 26th as its final trading day, is currently preventing many users from withdrawing their funds. On-chain investigator ZachXBT criticized the situation, stating, "If there is actually liquidity, they should return the funds instead of talking." One user reported having $10 million in assets frozen. Roshan Daria, CEO of the distressed debt investment firm Echo Base, stated that he proposed a restructuring package to BitMart, including DIP financing, but received no response. He warned that resolving the situation with a decentralized customer base without their consent is impossible without legal proceedings.