BitMart users and employees posted open letter from BitMart's official Chinese X account demanding answers from founders Sheldon Xia and Nancy Li over frozen funds and unpaid wages by August 19

The open letter, posted in Chinese from BitMart's official Chinese X account, demands that founders Sheldon Xia and Nancy Li answer five sets of questions by August 19. It asks them to disclose verifiable proof of wallets, assets, liabilities and reserves; explain who restricted withdrawals and when; trace related-party fund flows; pay overdue employee wages and compensation; and present a credible user repayment plan. It also cites unverified records suggesting accounts tied to Li may have held tens of millions of dollars with batch withdrawals, and threatens to hand evidence to regulators, law enforcement, lawyers and media if no response comes. It calls on industry figures and exchanges to amplify the matter.

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