CoinScoopBitMart Proposes Restructuring Plan to Repay Users Affected by 2021 Hack
Nearly five years after a $319.5 million security breach, BitMart has released a preliminary restructuring proposal to address user balance shortfalls. The plan, which requires court approval, involves dollarizing account balances based on July 26, 2026, trading prices. Users would be offered a choice between pro-rata payouts in fiat or stablecoins, or conversion into new Restitution and Continuum tokens. BitMart plans to consult with its 50 largest users before filing a formal court application, which is targeted for December 2026 or January 2027.
Summaries are written by AI from the original article. Not investment advice.