ZachXBT Responds to Doubts: If There is Liquidity, All Funds Should Be Returned Directly, Not Just Vague Statements
BitMart founder Sheldon Xia stated that evidence collection related to the X platform has been completed, and all claims are false.
He mentioned that he will report to the police during the day in the U.S. and send a lawyer's letter to X requesting technical and data evidence collection.
Xia emphasized that employee assets do not take priority over customer assets; everyone is a customer, with no privileges.
On-chain investigator ZachXBT responded to doubts: If there is indeed liquidity, all funds should be returned directly to everyone, rather than issuing vague statements.
BitMart previously announced its shutdown, with user withdrawal restrictions and employee salary issues continuing to escalate.
Market mechanisms indicate that the event is driving a crisis of trust in cryptocurrency exchanges: funds are flowing towards transparent reserve proof platforms, and users and employees are demanding verifiable asset disclosures, putting pressure on the opaque shutdown parties.
Additionally, the official Chinese account previously requested a public response by August 19.
Source: Public Information
ABAB AI Insight
During the exchange's shutdown, there is an internal public confrontation, with the founder responding to asset and salary doubts through police reports and evidence collection.
In terms of capital pathways, resources are prioritized for legal and platform evidence collection rather than immediate asset disclosure, with the motive being to control the narrative and delay repayment pressure.
Similar cases can be seen in the transparency disputes following the shutdowns of FTX and Celsius; currently, we are in a trust collapse phase for centralized exchanges exiting the market.
Structural judgment indicates regulatory changes: users and employees are applying pressure through public channels, with the mechanism being the lack of independent audits making it impossible to verify the flow of funds, pushing the industry towards mandatory reserve proof transformations.
ABAB News · Cognitive Law
Legal actions cannot replace asset proof
Liquidity claims must be validated by returns
Shutdown transparency determines trust residual value