Cryptocurrency exchange Bitget is terminating services for a limited group of customers, with each affected account receiving individualized instructions for deadlines and asset withdrawals, according to a company announcement on October 17.
The move comes a day after the platform’s English Terms of Use were updated to list Russia, Belarus, and Kazakhstan among prohibited jurisdictions. The exchange said the action is a one-time exercise and does not affect the majority of its user base, which can continue trading under existing terms.
Individual Notices Replace a Platform-Wide Deadline
Rather than issuing a uniform cutoff date, Bitget said it will contact affected users directly through email, in-app messages, or push notifications. Each message will outline the required steps, the relevant deadline for that specific account, and how to withdraw remaining funds.
The company has not disclosed how many accounts fall within the restricted group, nor has it identified the geographic locations of those users. The public statement also did not name a specific regulatory order or licensing action behind the decision.
Customers who receive no official communication can continue using their accounts normally, subject to the platform’s existing terms and conditions. Bitget emphasized that user funds remain safe and pointed customers to an asset-verification option, while its support team will assist with pending orders and account-related questions throughout the process.
The exchange directed users to its official website, app, Support Center, and verified social channels for updates, warning against phishing links and impersonation accounts that may attempt to exploit the situation.
Prohibited Jurisdictions Expanded
The updated Terms of Use, marked as effective October 16, classify Russia, Belarus, and Kazakhstan as prohibited jurisdictions. Under the agreement, individuals residing in those locations and entities established or operating there are ineligible to register for accounts or use Bitget’s services.
The restriction is tied to residence and operations rather than nationality alone. Bitget’s support account, responding to a question about Russian users, cited the country list and said the restrictions support compliance with regulations across various jurisdictions. Neither the support response nor the main announcement identified a specific law, regulator, or enforcement action.
Beyond the jurisdictional restrictions, the terms also cover know-your-customer and anti-money laundering requirements. Users must provide accurate information and update it when circumstances change, and the agreement allows the platform to request additional documents or conduct enhanced due diligence.
The agreement also grants Bitget authority to restrict access or close accounts when users no longer meet eligibility conditions, including legal or regulatory restrictions. This authority extends to closing outstanding positions depending on circumstances, though some risk assessment criteria remain confidential.
The service announcement arrived more than three weeks after Bitget reported a wallet breach on September 24. In a September 25 security update, the company said approximately $387.5 million had moved to addresses controlled by an attacker, revising an initial estimate of $351.6 million.
The higher figure reflected a broader classification of transfers, including assets on Zcash and TRON, rather than additional unauthorized activity, according to the company. External specialists Mandiant and SlowMist were assisting the investigation alongside internal security and technical teams, and investigators had identified and repaired the vulnerability.
Bitget did not connect the account terminations to the wallet incident. The breach update addressed transfers to attacker-controlled addresses, while the later notice described service changes for certain users. The company said it plans to continue global growth and described its goal as serving as a universal exchange.
The lack of a stated connection between the two events has left market participants to assess whether the restrictions stem from regulatory pressure, risk management decisions following the breach, or other factors not yet disclosed. Bitget has not published a formal post-incident accounting of the September breach, and the specific criteria used to identify affected accounts remain undisclosed.
For users holding assets on the platform, the key questions are whether withdrawal functionality remains available, whether balances are frozen pending review, and whether any timeline for service restoration or account migration has been communicated. The exchange said affected customers should consult their own notifications for details, as no timetable applies to every customer.