Woofun AI reports that BitMart is pursuing a strategic restructuring involving creditor distributions and a phased operational restart, appointing White & Case as counsel. This pivot replaces the exchange's earlier definitive shutdown announcement with a complex recovery framework.

The deeper driver is a timeline shift: less than four weeks after the initial closure notice, BitMart aims to release a detailed roadmap by Sept. 9. Per Woofun AI, the proposed plan includes an orderly resumption of specific operations alongside financial distributions to creditors, marking a significant departure from previous statements.

Structurally, the original July 26 notice cited operating conditions, market environment, and future strategy as reasons for halting new registrations, deposits, and trading orders. After nine years, the exchange moved futures accounts into reduce-only mode, set Aug. 26 as the trading end date, and planned full termination by Jan. 31, 2027, while allowing withdrawals subject to compliance checks.

Market reaction has been severe, with the BMX token dropping 58% within 24 hours of the shutdown news. This sharp decline extends the asset's year-to-date loss to 83%, reflecting investor skepticism toward the proposed restructuring path.