BitMart Founder Blames Hacked Account as Users Push for Balance Disclosure

The pressure on BitMart is shifting from a narrow social media dispute to a test of how centralized exchanges handle demands for basic financial disclosure.

At the center of the disagreement is a Chinese-language X account that, according to the original report, made claims about blocked funds and unpaid employees. BitMart founder Sheldon Lee responded by saying the account was hacked.

Users, however, are not satisfied with that explanation. They are asking the exchange to disclose wallets, assets, and liabilities. The difference between those two positions is significant. A hacked account can explain why a particular claim spread online.

It cannot, on its own, show whether customer funds are unencumbered or whether the exchange is solvent. What the hacked-account response leaves unanswered Lee’s statement appears aimed at stopping the spread of information rather than answering the substantive demand.