BitMart proposes three-option restructuring plan for asset recovery

BitMart has proposed a preliminary restructuring plan to help users recover account assets following a financial shortfall. The exchange attributed its current situation to a weak 2026 crypto market, exploitation of its futures business incentives, and approximately $319.5 million in digital assets lost during a 2021 cyberattack.

The proposed plan offers three distinct exit options for users. Under the framework, account balances would be converted into dollar-denominated amounts based on weighted average trading prices. Users could choose between:

1. Immediate distribution in cash, stablecoins, or major assets such as Bitcoin, Ether, and Solana. 2. A Restitution Token backed by funds recovered from the 2021 attack. 3. A Continuum Token, which would be supported by BitMart’s investment holdings, proceeds from illiquid asset sales, and potential future project profits.

Alvarez & Marsal and White & Case are currently conducting preliminary due diligence. The plan remains preliminary, meaning specific terms, timelines, and eligibility criteria have not yet been finalized or publicly verified. BitMart intends to consult its 50 largest users by assets over the coming weeks to prepare recovery estimates.