Bitget has announced plans to close selected cryptocurrency accounts following an October 16 update to its terms of use that lists Russia, Belarus and Kazakhstan among countries where customers cannot access its services.
Summary
- Bitget announced account closures for selected customers following changes to its October 16 terms of use.
- Russia and Belarus now appear alongside Kazakhstan on the exchange’s prohibited list of countries and territories.
- Affected customers will receive individual deadlines, withdrawal instructions and assistance with outstanding orders from Bitget.
- Some users face October 21 deadlines, although Bitget has not announced one for everyone affected.
- Bitget has not disclosed how many accounts face closure or identified a specific regulatory order.
In an October 17 statement on X, the exchange confirmed that affected customers would receive individual notifications explaining when they must stop trading, close positions and withdraw their remaining funds. Bitget described the action as “a one-off exercise for certain users only” and said its trading platform would continue operating.
The announcement did not identify how many users would lose access or provide a common deadline. Customers who have not received a termination notice can continue using their accounts, provided they meet the exchange’s eligibility requirements.
Bitget adds Russia and Belarus to restricted country list
The exchange’s updated terms, dated October 16, classify people residing, established or operating in prohibited jurisdictions as restricted users. Russia and Belarus are included in the latest list, alongside Kazakhstan, which appeared in earlier versions of the agreement.
Bitget’s eligibility rules require customers to confirm that they are not restricted persons and are not accessing services from locations where trading is prohibited under its terms. The agreement applies to individuals and corporate entities, with separate provisions addressing sanctions and other legal restrictions.
Other jurisdictions appearing on the list include Canada, the United States, France, Germany, Japan and Singapore. The October revision did not newly introduce restrictions against customers in all these markets, and the updated document does not identify which existing users will receive termination notices.
In response to a question about Russian customers, Bitget’s official support account referred to the prohibited-country list and cited compliance with regulations in different jurisdictions.
Neither the exchange’s public announcement nor its terms identified a particular government order requiring the latest account closures. Bitget has not explained whether the decision arose from a change in its compliance policies, a licensing issue or another regulatory concern.
The restrictions affect access to Bitget’s services under its published agreement. They do not establish that cryptocurrency ownership or trading has been prohibited by the governments of every country appearing on the list.
Some Bitget users face October 21 withdrawal deadline
Affected users are being contacted through email, in-app messages and push notifications. Bitget said those messages would provide the deadlines and withdrawal arrangements applicable to each account.
Russian news agency Interfax reported on October 17 that some customers received notices setting out two important dates. The first was October 18, when affected accounts would lose the ability to open new trades, place orders or subscribe to additional products.
According to the reported instructions, customers must close outstanding positions and withdraw their assets before 10:00 a.m. Moscow time on October 21. Positions left open after that deadline would reportedly close automatically, while account login access would become restricted.
One customer posting under the name FrontMan separately reported receiving an October 21 cutoff. The account described receiving a direct notification from the exchange, although the individual notice was not independently authenticated.
Bitget did not publish those dates as a common schedule in its main announcement. Customers receiving termination notices must therefore follow the deadlines stated in their own account messages.
The exchange said its customer support team would remain available to assist with withdrawals and pending orders during the closure process. It maintained that user funds were safe, without announcing a separate balance audit specifically for the affected accounts.
Customers who have received no official notification were told they could continue using their accounts under the existing terms.
Bitget warned users to check communications through its official website, application and verified channels. The company included a warning about phishing links and impersonation attempts in the October 17 announcement.
Bitget has not disclosed how many customers are affected
The exchange’s announcement leaves several questions unanswered, including the number of affected accounts and how the selected customers were identified.
Its prohibited-jurisdiction list provides the clearest published explanation of geographic eligibility, but the statement does not establish whether every existing customer in Russia, Belarus or Kazakhstan has received a closure notice. Bitget has not identified the total value of customer assets that must be withdrawn or the number of outstanding trades subject to closure.
The company has similarly not announced a separate appeals procedure for customers who believe their accounts were selected incorrectly. Its public instructions direct users to customer support for account-related questions. Under the updated legal agreement, customers are responsible for complying with restrictions that apply to their location and account status. Bitget reserves the right to determine whether users meet its eligibility requirements.
The company’s terms contain separate provisions concerning corporate entities connected to the United States. Its compliance team may request further information to determine whether a business qualifies as a prohibited U.S. user under applicable rules. No comparable country-specific review process was described in the October 17 announcement for existing customers in Russia or Belarus.
Account closures follow September security incident
The customer restrictions come several weeks after Bitget suffered a cryptocurrency security breach involving approximately $387.5 million in unauthorized transfers.
On September 24, attackers accessed parts of the exchange’s wallet infrastructure, prompting the company to suspend withdrawals while technical teams investigated the incident.
Bitget initially estimated the affected assets at $351.6 million. It subsequently revised that figure to approximately $387.5 million after accounting for additional affected assets across its supported blockchains.
The exchange said the revised estimate covered transfers associated with the original breach. Its investigation involved cybersecurity specialists and efforts to trace the stolen funds. Following technical checks, Bitget reopened Bitcoin withdrawals on September 28. Ethereum and stablecoin withdrawal services returned in subsequent stages.
By September 30, the exchange had restored major stablecoin withdrawals and reported a 131% proof-of-reserves ratio across 19 supported cryptocurrencies. Its September disclosures placed the User Protection Fund above $300 million following the incident. The fund is maintained separately from the exchange’s published reserve calculations.
Earlier in September, a comparison of exchange reserve reporting identified Bitget’s monthly disclosure schedule and its use of Merkle-tree verification, which allows customers to check whether their balances were included in a reported snapshot.
The exchange has not linked the September breach to the October account closures. Its October 17 announcement identified no security investigation, specific regulatory order or customer misconduct as the reason for the selected account terminations.
Interfax’s October 17 account remains the source of the reported 10:00 a.m. Moscow time cutoff on October 21. Bitget’s public announcement directs each affected customer to the deadline and withdrawal instructions in their individual notification.
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