BitMart Says Its Account Was Taken Over as Funds Questions Grow

A disputed post called for an independent audit

A post from BitMart’s Chinese-language X account called on Sheldon Lee and Yi Li to open the exchange’s finances to outside scrutiny.

The post alleged that some customers could not access funds and that employees had not received July salaries or compensation owed to them. It called for an independent examination of BitMart’s wallets, assets, liabilities and available reserves.

It also set an August 19 deadline for a response.

Those claims require caution. BitMart now says the account was compromised, the identity of the person behind the post has not been established, and the allegations have not been independently verified.

Lee says the account was compromised

Lee said on his personal X account that BitMart had collected evidence showing the post’s contents were fabricated. He said the company would file a police report and ask X for technical and data analysis related to the account.

In a separate response, Lee said customer claims...