BitMart review: score, licensing and risks
54/100SCORE · DCaution
Grade D, caution
BitMart lists a very large number of tokens. In December 2021 around 196 million dollars was drained from its hot wallets, and the reimbursement process that followed was widely criticised as slow and incomplete. Transparency since has been limited.
The facts
- FOUNDED
- 2017
- HEADQUARTERS
- Cayman Islands
- CUSTODY
- Custodial.
- MiCA / EEA
- Not authorised.
- US ACCESS
- Limited.
- PROOF OF RESERVES
- Limited publication.
- FEES
- Around 0.25 percent.
- ASSETS
- 1,500 plus
How the score breaks down
Each dimension is explained on the methodology page.
Where it is strong and where it is not
✓ Strengths
- Very wide asset listing
✗ Weaknesses
- Around 196 million dollars lost in 2021
- Reimbursement was slow and disputed
- No meaningful regulatory standing
- Limited transparency
Incident history
2021
Around 196 million dollars was drained from hot wallets. BitMart said it would reimburse users from its own funds, and the process was widely criticised as slow and incomplete.
Our read
A large 2021 breach handled poorly, with limited transparency since. Reachable for an obscure listing, not a place to leave funds.
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RISK WARNING
Crypto assets are highly volatile and largely unregulated. You can lose everything you put in.
Nothing on this page is financial, investment or tax advice, and nothing here is a recommendation
to buy or sell any asset. Do your own research and never commit money you cannot afford to lose.