According to CoinMeta, on August 21, Bitmart indicated that it was exploring a reorganization plan involving creditor distribution and a phased restart of selected services. Less than four weeks after this announcement, Bitmart declared a complete cessation of operations. The exchange appointed White and Case as reorganization consultants and promised to provide further updates by September 9th, but did not cancel the existing trade deadline of August 26th or the closure date of January 31, 2027. Bitmart stated that the proposed plan may involve a gradual restoration of certain services alongside creditor distribution, and any restart would still need to go through legal, financial, operational, and regulatory reviews.