【Bitget is closing accounts—should you be worried?】
Bitget announced on Saturday that it would stop providing services to some users. My take: this is a compliance-driven account closure, not a sign of a bank run—but if you’ve been affected, don’t wait until the last day.
There are just 3 things you need to know about this👇
① Scope: The official announcement didn’t specify who is affected, but its updated Terms of Service, published on October 16, listed Russia, Belarus, and Kazakhstan as restricted regions.
② Timeline: According to Russian media reports, users won’t be able to open new positions from 10:00 Moscow time on October 18. They must close positions and withdraw their funds by 10:00 on October 21. Any positions left after the deadline will be closed automatically.
③ Background: Bitget suffered a security breach on September 25, with a security firm estimating losses of around $388 million. The company has not linked the two events.
Accounts that haven’t received an official notice can continue using the platform as usual. Phishing links are especially common after announcements like this—use only the official app and website.
What could prove me wrong: If withdrawal delays start affecting users in regions that haven’t been named, then this is more than just account closures.
Do you still keep all your crypto on a single exchange?
Sources: Cointelegraph, Wu Blockchain
#Bitget #Cryptocurrency
📈 Top 3 contract gainers (20:39): $AGT +89.13%｜$Q +42.85%｜$EPIC +33.60%
#BinanceSquare
⚠️ The above is a compilation of information and personal opinions, not investment advice. DYOR.
Bitget announced on Saturday that it would stop providing services to some users. My take: this is a compliance-driven account closure, not a sign of a bank run—but if you’ve been affected, don’t wait until the last day.
There are just 3 things you need to know about this👇
① Scope: The official announcement didn’t specify who is affected, but its updated Terms of Service, published on October 16, listed Russia, Belarus, and Kazakhstan as restricted regions.
② Timeline: According to Russian media reports, users won’t be able to open new positions from 10:00 Moscow time on October 18. They must close positions and withdraw their funds by 10:00 on October 21. Any positions left after the deadline will be closed automatically.
③ Background: Bitget suffered a security breach on September 25, with a security firm estimating losses of around $388 million. The company has not linked the two events.
Accounts that haven’t received an official notice can continue using the platform as usual. Phishing links are especially common after announcements like this—use only the official app and website.
What could prove me wrong: If withdrawal delays start affecting users in regions that haven’t been named, then this is more than just account closures.
Do you still keep all your crypto on a single exchange?
Sources: Cointelegraph, Wu Blockchain
#Bitget #Cryptocurrency
📈 Top 3 contract gainers (20:39): $AGT +89.13%｜$Q +42.85%｜$EPIC +33.60%
#BinanceSquare
⚠️ The above is a compilation of information and personal opinions, not investment advice. DYOR.