SNC Scandic Coin Seeks Explanation Over Pending BitMart Institutional Withdrawals

Screenshots published by SNC Scandic Coin, taken from an institutionally verified BitMart account, show three withdrawal requests created on July 26 that remained in "Processing" status as of August 3, nearly eight days after they were submitted:

→ Transaction 31942705: 21,898.09 USDT, status "Processing," 0/12 confirmations.

→ Transaction 31943017: 926,634.6 SNC, status "Processing," 0/12 confirmations.

→ Transaction 31944747: 255.70 USDT, status "Processing," 0/12 confirmations.

None of the three transactions displayed a blockchain transaction hash (TXID listed as "No Record"). A separate, smaller SNC withdrawal (4,332.39 tokens) from the same account was marked complete on July 27, reaching 12/12 confirmations.

SNC said the discrepancy could not be explained by what it described as routine technical delays and said it had asked BitMart to clarify the reason for the pending withdrawals, provide the relevant TXIDs, and confirm that the assets could be released in full. SNC also said it may consider legal action if the matter is not resolved. As of publication, BitMart had not issued a public response.

SNC's references to issues such as "funds shortage" or "asset misappropriation" represent its own allegations and have not been independently verified or confirmed by BitMart. BitMart has previously stated that it is winding down its trading platform in an orderly manner. The reasons for the reported pending withdrawals could not be independently verified at the time of publication.

Market focus: Market participants are awaiting any official statement from BitMart regarding the reported withdrawal requests. Further updates from either party may provide additional clarity on the status of the pending transactions.

Sources: SNC Scandic Coin public statement and account screenshots (via Chainwire, Aug. 3, 2026); BitMart platform screenshots.