[BitMart Releases Preliminary Proposal, Users Can Choose from Three Exit Options] Odaily Planet Daily News – Cryptocurrency exchange BitMart has released a preliminary proposal, stating that starting from August 2026, it will review its assets and liabilities and formulate response measures. Users can opt for upfront distribution or delayed but potentially higher recovery from sources that may be reclaimed and liquidated. The management team stated that they will continue to cooperate. BitMart disclosed that the December 2021 hacking incident resulted in a $319.5 million gap in the balance sheet, based on the valuation as of December 4, 2021. Starting in May 2026, panic withdrawals triggered by social media attacks have exposed related individuals to risks of personal information leaks. After evaluating a $10 million liquidity proposal from an investor, the management concluded that it was insufficient to cover operational pressures and the deficit. BitMart plans to implement a court-approved proposal backed by its assets, converting users' outstanding account balances into USD based on the weighted average trading price from July 26, 2026, to a designated record date. Users can choose to receive upfront distributions in fiat currency, stablecoins, or cryptocurrencies such as Bitcoin, ETH, and SOL; exchange for recovery tokens to participate in the pursuit of stolen assets; or exchange for continuation tokens tradable on decentralized exchanges, allowing participation in investment returns, illiquid asset disposal, and future project profit sharing. Over the next three to four weeks, the BitMart team, with the assistance of advisors, will consult the top 50 users by account balance value for specific feedback on the proposed plan. The team will inform stakeholders of any adjustments to the plan after considering user feedback in due course.