3 exchange closed down in July alone, withdraw your money before it's too late.

[shinratensei_]

Are you worried that the last users will simply not be paid due to a lack of funds?

Of course, one of the exchange i listed, which is AscendEX is saying they can't give assurances about timing or amounts which speaks volume.

Sending coins directly to any of these exchanges while they have disabled the deposit option will take a lot to get it out manually.

For sure, even current withdrawal after announcement for Bitmart is already messy, some people reported withdrawal rejection with amount over $100 (i can't confirm it since I have no crypto in there). On top of that they also raised withdrawal fee to 11 USDT on all network.

[Pegiz]

Are you worried that the last users will simply not be paid due to a lack of funds?

There's a way to tell that apart from a slow queue without guessing, and the wording quoted upthread is the tell.

A venue doing an orderly wind-down constrains timing — batches, extra compliance checks, slower processing. What you're owed isn't in question, only when it lands. AscendEX said they can't assure timing or amounts. Timing you can promise to fix later; amounts you only hedge on if you're not certain what's actually there to pay out. That single word is doing a lot of work in that notice, and it's why I'd keep AscendEX in a different bucket from the other two even though all three landed in the same month.

Competitiveness explains BitMEX and BitMart fine. It doesn't explain a manual-review queue with no commitment on amounts.

On the 11 USDT flat fee mentioned above — I haven't confirmed that number myself, so treat it as unverified, but if it's right the effect is worth spelling out: below a certain balance withdrawing costs more than it returns, and "not worth withdrawing" turns into "abandoned" without anyone deciding anything. Same shape as the $50/month BitMEX charges on leftover accounts after the 23 September cutoff. Anyone still holding there should check their balance against the fee now rather than relying on that January 2027 date.

[Renampun]

The bear market really affects Ted so many projects, and most of these exchange owners depends on some coins they are holding, and when they lose money, they have no option than to leave their exchange if they don’t have money to keep maintaining the platform.
snip

It's always the market that's blamed when the real blame lies with their incompetence in managing their operations. These exchanges have been operating for eight or nine years, meaning they've weathered multiple market cycles.. so, market volatility alone is no longer a convincing excuse. Rather, they're simply incompetent and want to exit the industry after reaping so much profit from their exchange operations and the coins they launched.

[justdimin]

We don't hear much about this exchange for many occasions and it seems that they missed neglect to do further action to maintain their exposure. Now they are suffering and came to the point that they decide to shutdown their platform.

If they just kept up and try to market their exchange well, then do lots of gimmicks to attract and earn exposure maybe they will not fall on bad position.

That closure means that no top business is safe for long term, no adaption or adjustment made means they are bound to fail the same with those exchange mentioned by OP.

The cost of running a business like this, is not cheap. Exchanges have a lot of workers, so that means a lot of salaries, and they also have a lot of security issues, pentesting is not optional in these cases, and when you combine all of these, including normal costs of running a business, you have to hold a lot of people trading so that you would make trading fee income above par. These exchanges failed to do that because we are in a bear market, they did not have so much in the bull market to put some aside and for that reason, in the bear market they were not making enough to cover their costs and might have decided to close.

There could be multiple other reasons as well but in a bearish year these kind of shutting downs are common incidents in this crypto space and I am sure that they are not going to be the last ones either. Withstanding a bearish year seems a big task not just for all the holders but for businesses as well, it seems .

[Freeveto]

It's always the market that's blamed when the real blame lies with their incompetence in managing their operations. These exchanges have been operating for eight or nine years, meaning they've weathered multiple market cycles.. so, market volatility alone is no longer a convincing excuse. Rather, they're simply incompetent and want to exit the industry after reaping so much profit from their exchange operations and the coins they launched.

Indeed incompetence, they might not been doing the right thing which will result to them losing customers because I can see how we get new exchanges always, if it is not profitable, new investors will not come to make the market competitive.
Some exchanges are very good in trading, they made sure they improve their trading activities to be conducive in order to attract more traders because it’s all about competition.

Nevertheless, we still have to take our savings responsibly. Our wallet security is our responsibility, allowing exchanges to hold our coins for us is not advised. Let’s try and get a wallet to be sending our money to after trading for security reasons.

[Callido]

I wonder if it marks the bearish bottom of the season? what do you think? Although they are only tier 2 exchange, but 3 in a row is not something that happen too often.

Exchanges are not a good place to hold funds, especially when dealing with tier 2 exchanges that can crash anytime or things like this happening, so sad some users will lose their funds, those who can't meet up with the fees, or if the exchanges continue to withhold withdrawals.

I also blame users who don't take time to choose exchanges, i make sure to be selective with the exchanges i use, if it is not a well reputable exchange among the tier 1, i avoid them, especially when trading huge amounts.

[Accardo]

Competitiveness explains BitMEX and BitMart fine. It doesn't explain a manual-review queue with no commitment on amounts.

BitMEX is the only exchange among the three that have shown great dignity to their users, Bitmart started telling stories on expected delays in payment processing. A certain user shared on X that he's not eligible to withdraw any amount on Bitmart, after publishing previously that Bitmart allowed users to withdraw $100 per transaction, requiring $5 in fee for each. However, I saw your first comment on MICA regulation, which I believe is the reason behind the shut down of these 3 exchanges, they're not MICA compliant. Warning to traders who use crypto exchanges, try as much as possible to patronize exchanges with MICA license, you can check for MICA regulated exchanges on Cryptouniversity's explore page.

[Solarmesh]

this doesn’t automatically mean bearish bottom, it’s more likely just the continued exchange shakeout of weaker platforms, which can be bearish near-term.
but if the closures keep happening and liquidity gets more concentrated into surviving venues, sentiment can flip after the panic.
also, on bitmart specifically they said withdrawals were still open but may take longer due to id/compliance and congestion, so still treat it as “get your funds out if you can” rather than waiting for a chart signal.

[DanWalker]

The bear market really affects Ted so many projects, and most of these exchange owners depends on some coins they are holding, and when they lose money, they have no option than to leave their exchange if they don’t have money to keep maintaining the platform.
snip

It's always the market that's blamed when the real blame lies with their incompetence in managing their operations. These exchanges have been operating for eight or nine years, meaning they've weathered multiple market cycles.. so, market volatility alone is no longer a convincing excuse. Rather, they're simply incompetent and want to exit the industry after reaping so much profit from their exchange operations and the coins they launched.

Exactly, 2 of them have been exchange in the market for more than a decade and have already gone through at least one or two bear market. If they have managed to survive for more than 10 years, they should certainly have enough experience to deal with a bear market. So it would be unconvincing to say that they closed down simply because the bear market was too harsh.

Poor management, intense competition making profit less attractive, or major changes to the regulatory framework are the reasons behind their decision to shut down.

Bitmex and Bitmart haven't given a specific reason, but Ascendex clearly stated that it was because they couldn't meet the regulatory requirement under Mica.

[Ahli38]

The cryptocurrency exchange BitMEX is reportedly set to shut down its operations around the end of September. And they have stated that their users’ assets remain safe and under their control. But they are urging users to withdraw their funds immediately before the shutdown takes place (Source). As for AscendEX they appear to be acting very responsibly. And we can see that they are still facilitating withdrawals for their users (Source). As for Bitmart they have also announced a timeline for the cessation of their operations (Source). And they are forcing users to withdraw their funds immediately before August-26-2026. I think the suspension of operations at some of these exchanges is due to bankruptcy or even because they are unable to continue operating due to financial problems. So I personally think that those of you who use these exchanges should withdraw your funds immediately before it’s too late, where it could cause you even more problems with your crypto assets.