BitMart founder dismisses calls for audit as users report blocked funds, unpaid employees

“We have collected full evidence of the content on X, all of which is fabricated rumors,” Lee said. “During daytime US time, we will file a police report and send a lawyer’s letter to X, demanding technical and data forensics.”

Regarding unpaid staff, the founder of the Cayman Islands-based crypto exchange said, employee assets “are not prioritized over client assets, everyone is a client, and there are no privileges.”

An X user known as BeardStaff said their assets had been inaccessible since the July 26 announcement, and that a dedicated VIP manager removed them from Telegram the day withdrawals stalled. “Where is my $10 million?” they posted.

Another user cut straight to Lee’s hacked account claim.

“No one asked you if the account was hacked or not,” wrote @chicha_liam. “Answer what people have been asking you since July 26. When will users be able to withdraw their funds?”

Onchain investigator ZachXBT also pushed back. “If you actually have the liquidity, then simply return the funds to everyone instead of posting vague statements.”

Roshan Dharia, CEO of distressed investment firm Echo Base, told CoinDesk via Telegram that his firm has offered BitMart a funded restructuring package including debtor-in-possession financing and equity at emergence, underwritten by Echo Base as a claimholder. He said BitMart has not responded.