BitMart Demands Founder Response on Fund Whereabouts by August 19

BitMart sets August 19 deadline for founder Sheldon and Li Yi to disclose user fund locations and repayment plans, threatening regulatory action if transparency fails.

Woofun AI reports that BitMart has mandated founder Sheldon and Li Yi to address five critical inquiries by August 19. The required disclosures include the specific location of user funds with verifiable asset proof, the rationale behind withdrawal restrictions, an audit of related account flows, the status of employee salary settlements, and a concrete user repayment strategy detailing liabilities and timelines. The exchange warned that failure to provide a transparent explanation by the deadline will result in submitting evidence to law enforcement, regulators, legal counsel, and media outlets for further investigation.