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Bitget

From Wikipedia, the free encyclopedia

Bitget
TypePrivate
IndustryCryptocurrency
Founded2018; 8 years ago (2018) in Singapore
Headquarters
Seychelles
Area served
Worldwide
Key peopleGracy Chen (CEO)[1]
ProductsCryptocurrency exchange, cryptocurrencies
SubsidiariesBitget Wallet
Websitebitget.com

Bitget is a cryptocurrency exchange that was originally founded in Singapore in 2018. The exchange was hacked in September 2026, as a result of this it suspended withdrawal of user funds.[2]

History

[edit]

2018–2026: Early history

[edit]

Bitget was founded in Singapore in 2018.[3][4] It initially specialized in cryptocurrency derivatives and copy trading.[3]

In December 2022, Bitget registered in the Seychelles, having previously been based in Singapore.[5]

In April 2023, Bitget raised US$10 million from venture capital firm, Dragonfly.[5] Also, in April 2023, Bitget began testing the chatbot ChatGPT to answer customer inquiries, but ended the test after two weeks, saying that the tool had given users false information.[6] In 2024, amid the growing popularity of Telegram-based games such as Hamster Kombat, Bitget and Foresight Ventures invested US$30 million in the TON ecosystem.[7]

In 2024, Bitget appointed Gracy Chen as its chief executive.[8] In December 2024, Bitget obtained a bitcoin service provider license from the Central Reserve Bank of El Salvador.[9]

2026–present: Regulatory issues and hack

[edit]
Gracy Chen in 2025 before Bitget hack

In January 2026, Bitget appointed Oliver Stauber as chief executive of Bitget EU and chose Vienna as its EU headquarters.[3] In June 2026, it applied to Austria's Financial Market Authority for a license under the EU's Markets in Crypto-Assets regulation.[10][11]

In September 2026, Bitget was hacked and since then it has suspended withdrawal of user funds.[2]

Products

[edit]

Bitget Wallet

[edit]

Bitget Wallet, formerly known as BitKeep, is a cryptocurrency wallet of Bitget. In October 2022, BitKeep's swap feature was exploited, resulting in losses of about US$1 million. Following a separate December 2022 hack linked to a counterfeit version of its app, BitKeep promised to reimburse affected users in USDT, paying back in split schedule. Blockchain security firm PeckShield estimated total losses from the December incident at about US$8 million.[12][13] In March 2023, Bitget acquired BitKeep, a non-custodial wallet, and renamed it as Bitget Wallet following a $30 million investment.[14]

Sponsorships

[edit]

In September 2021, it became the first sleeve sponsor of the Italian football club Juventus, under a two-season contract with base fees of €5.5 million for 2021–22 and €7 million for 2022–23, according to a prospectus published by the club.[15][16][17] The partnership ended after the 2022–23 season.[18]

In 2022, Bitget entered into a sponsorship deal with Lionel Messi after which he became a global brand ambassador of Bitget.[19][20] Bitget's partnership with Messi had ended by December 2025.[21]

In 2024, LaLiga announced a multi-year regional agreement with Bitget.[22] Following the 2025 Wang Fuk Court fire in Tai Po, Bitget was named by Po Leung Kuk as having donated HK$3.5 million to its relief efforts.[23]

[edit]

France

[edit]

Autorité des marchés financiers (AMF) placed Bitget on its blacklist in November 2023 for non-compliance with French regulations, and in April 2024 reminded the public that Bitget was not authorized to provide digital asset services in France.[24][11] Bitget withdrew its services from France in March 2026, saying it could not comply with French regulatory requirements,[25] and on July 9, 2026, the AMF removed bitget.com from its crypto asset blacklist.[24]

Hong Kong

[edit]

In 2023, BitgetX withdrew from Hong Kong after deciding not to seek a local virtual-asset trading licence.[26][27] BGX, which shared a chief executive with BitgetX but denied being affiliated with Bitget, subsequently acquired a substantial stake in the parent company of the licensed exchange OSL.[28]

Indonesia

[edit]

In July 2024, Indonesia's communications ministry blocked the Instagram accounts of Bitget Indonesia.[29][30] Bitget was operating in Indonesia without a domestic business license.[30]

Japan

[edit]

Japan's Financial Services Agency (FSA) warned Bitget Limited in March 2023 and November 2024 for conducting crypto asset exchange business with Japanese residents without registration.[31][32] In February 2025, at the agency's request, Apple removed the apps of Bitget from its Japanese App Store.[33] In June 2025, the FSA also added BTG Technology Holdings Limited, which provides the Bitget service, to its list of unregistered operators that had been sent warning letters, for soliciting over-the-counter derivatives trading over the internet.[34]

Philippines

[edit]

In August 2025, the Philippine Securities and Exchange Commission named Bitget among ten unregistered crypto platforms, and the telecommunications company PLDT blocked access to them on the order of the National Telecommunications Commission.[35][36]

Singapore

[edit]

In 2021, Singapore's financial regulator suspended Bitget's operations in the country over allegations of misleading promotion of the token named after the BTS fanbase.[37] BTS's management company Hybe threatened legal action over its promotion.[38] Bitget subsequently announced that it would delist ''ARMY'', while allowing withdrawals for a limited period.[39][40]

Turkey

[edit]

Bitget began operating in Turkey in June 2023 through a local subsidiary, Bitget Teknoloji. In August 2024, the subsidiary, which had filed a declaration of liquidation with the Capital Markets Board of Turkey, announced that it would stop operating in Turkey and that all of its shares had been bought by METX Dijital, the owner of the CoinTR exchange.[41][42]

United Kingdom

[edit]

In 2024, Bitget ceased serving users in the United Kingdom (UK) in response to the Financial Conduct Authority's (FCA) ban on retail cryptocurrency derivatives.[43] Later this year, the exchange relaunched its UK website after obtaining approval for its financial promotions from Archax.[44]

References

[edit]
  1. ↑ Lang, Hannah (14 July 2025). "Crypto exchanges rushed to list Trump's coin - leaving many losers and some big winners". Reuters.
  2. 1 2 https://www.bloomberg.com/news/articles/2026-09-24/bitget-says-351-million-affected-in-breach-halts-withdrawals
  3. 1 2 3 Meisinger, Dominik (28 January 2026). "Bitget: Kryptobörse kommt nach Wien und holt Oliver Stauber als EU-Chef" [Bitget: Crypto exchange comes to Vienna and hires Oliver Stauber as EU chief]. brutkasten (in German).
  4. ↑ Кузьмичева, Анастасия (26 December 2024). "Токен биржи Bitget вышел в лидеры по росту в 2024 году. Как это произошло". RBK Group.
  5. 1 2 Schwartz, Leo (4 April 2023). "Crypto trading platform Bitget gets $10 million funding round from Dragonfly". Fortune.
  6. ↑ Schwartz, Leo (30 May 2023). "As crypto embraces A.I., a major exchange scraps its ChatGPT integration because 'it's very dangerous'". Fortune. Retrieved 6 March 2026.
  7. ↑ Chhetri, Manish (18 September 2024). "Bitget and Foresight Ventures invest $30 million in TON blockchain". FXStreet. Retrieved 17 July 2026.
  8. ↑ Abdulkareem, Aliyu (17 April 2025). "The Meteoric Rise of Bitget".
  9. ↑ Olivares, Ariel (16 December 2024). "Empresa de intercambio de criptomonedas obtiene licencia para proveer servicios en El Salvador" [Cryptocurrency exchange company obtains license to provide services in El Salvador]. Diario El Mundo.
  10. ↑ Fröhlich, Christoph (30 June 2026). "Mica-Frist 1. Juli: Das müssen Krypto-Anleger wissen" [MiCA deadline July 1: What crypto investors need to know]. DAS INVESTMENT (in German).
  11. 1 2 Frohn, Philipp (25 June 2026). "Binance: Kryptobörse droht Rauswurf aus der EU – Was nun auf Kunden zukommt" [Binance: Crypto exchange faces expulsion from the EU – what customers can expect]. WirtschaftsWoche.
  12. ↑ Cabral, Alvin R (26 December 2022). "Hackers steal $8m worth of cryptocurrency from BitKeep wallets". The National.
  13. ↑ More, Anviksha (19 January 2023). "BitKeep to Reimburse Hacking Victims by March". BankInfoSecurity. Information Security Media Group (ISMG). Retrieved 6 March 2026.
  14. ↑ PTI (30 March 2023). "BitKeep Rebrands As Bitget Wallet After Acquisition". The Times of India. Retrieved 16 March 2026.
  15. ↑ Jones, Rory (28 September 2021). "Juventus name Bitget as first-ever sleeve sponsor". SportsPro.
  16. ↑ "Bitget è il primo sponsor di manica della Juventus" [Bitget is Juventus's first sleeve sponsor]. Calcio e Finanza (in Italian). 28 September 2021.
  17. ↑ "Juventus, le reali cifre dell'accordo con Bitget" [Juventus: the real figures of the Bitget deal]. Calcio e Finanza (in Italian). 26 November 2021.
  18. ↑ Sacchi, Marco (2 February 2024). "La Juve sigla un accordo con Zondacrypto: è il nuovo sponsor di manica" [Juve signs a deal with Zondacrypto, its new sleeve sponsor]. Calcio e Finanza (in Italian).
  19. ↑ Lemire, Joe (23 June 2026). "Lionel Messi Signs Second Crypto Partnership With Cryptocurrency Exchange Bitget". Sports Business Journal. Retrieved 23 June 2026.
  20. ↑ Dixon, Ed (25 October 2022). "Lionel Messi bags latest cryptocurrency sponsorship with Bitget". SportsPro.
  21. ↑ Wahnon, Pablo (2 December 2025). "La exchange Bitget suma figuras de LALIGA como Julián Alvarez y espera un aumento de las inversiones en criptomonedas" [The exchange Bitget adds LaLiga stars such as Julián Alvarez and expects crypto investment to grow]. Forbes Argentina.
  22. ↑ Samadi, Faaez (19 September 2024). "LaLiga signs 'multi-million' crypto deal with Bitget". SportBusiness. Retrieved 23 June 2026.
  23. ↑ "新聞稿 - 新聞及刊物 - 保良局 - 多元化的慈善服務團體". www.poleungkuk.org.hk (in Chinese (Hong Kong)). Retrieved 23 June 2026.
  24. 1 2 "The AMF reminds the public that the cryptoasset trading platform BITGET is blacklisted". 3 April 2024.
  25. ↑ Miller, Adelaide (2 April 2026). "Crypto exchange platform markets in Australia despite ASIC intervention". ABC News.
  26. ↑ "BC Technology Group circular (subscription agreement with BGX)" (PDF). HKEXnews.
  27. ↑ "BC Technology Group Limited — Circular (Subscription Agreement with BGX)" (PDF). Hong Kong Exchanges and Clearing Limited. 18 December 2023. Retrieved 11 January 2026.
  28. ↑ Shen, Xinmei (15 November 2023). "Owner of Hong Kong crypto exchange OSL gets US$91 million from firm linked to Bitget, which is exiting the market". South China Morning Post. Retrieved 1 November 2024.
  29. ↑ Aprilia, Zefanya (17 July 2024). "Kominfo Tiba-Tiba Blokir Medsos Kripto Binance Hingga KuCoin, Ada Apa?" [Kominfo suddenly blocks crypto firms' social media, from Binance to KuCoin: what's going on?]. CNBC Indonesia.
  30. 1 2 "Bappebti Gandeng Kominfo Blokir Platform Kripto Luar Negeri" [Bappebti teams up with Kominfo to block foreign crypto platforms]. kumparan. 18 July 2024.
  31. ↑ "無登録で暗号資産交換業を行う者について（Bitget Limited）" [Regarding a party conducting crypto-asset exchange business without registration (Bitget Limited)] (PDF). Financial Services Agency. 31 March 2023.
  32. ↑ "無登録で暗号資産交換業を行う者について（Bitget Limited）" [Regarding a party conducting crypto-asset exchange business without registration (Bitget Limited)] (PDF). 28 November 2024.
  33. ↑ Beri, Devesh (8 February 2025). "Japan Wants Apple to Remove Unregistered Crypto Apps from App Store". The Mac Observer.
  34. ↑ "無登録で金融商品取引業を行う者の名称等について（HTML版）" [Names of parties conducting financial instruments business without registration (HTML version)]. Financial Services Agency.
  35. ↑ Flores, Dominique Nicole (6 August 2025). "10 crypto platforms targeted in SEC crackdown over lack of registration". Philstar.com.
  36. ↑ Rosales, Elijah Felice (12 August 2025). "PLDT blocks access to illegal crypto sites". The Philippine Star.
  37. ↑ Ni, Vincent (5 December 2021). "Singapore suspends crypto exchange over row with K-pop band BTS". The Guardian. Retrieved 9 January 2026.
  38. ↑ Berger, Miriam (7 December 2021). "Singapore suspends cryptocurrency exchange accused of misleading BTS fans". The Washington Post. Retrieved 9 January 2026.
  39. ↑ Park, Jae-hyuk (29 October 2021). "'Army Coin' irks BTS agency in talks with Upbit operator". The Korea Times. Retrieved 11 January 2026.
  40. ↑ "Bitget Will Delist ARMY on December 3, 2021". Bitget Support Center. 1 December 2021. Retrieved 11 January 2026.
  41. ↑ "Dev kripto borsası Bitget TR, Türkiye'den çekiliyor" [Crypto exchange giant Bitget TR is withdrawing from Turkey]. Patronlar Dünyası. 16 August 2024.
  42. ↑ "Tasfiye Sürecinde Olanlar Listesi" [List of those in the liquidation process].
  43. ↑ "Notice to United Kingdom Users | Bitget Support Center". Bitget. Retrieved 17 July 2026.
  44. ↑ Times, The Fintech (13 November 2024). "Bitget Returns to UK: Archax Approval Ensures Compliance with the FCA's Financial Promotion Regime". The Fintech Times. Retrieved 17 July 2026.
[edit]

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