Bitget plans to close selected cryptocurrency accounts after updating its terms of use on October 16. The revised rules list Russia and Belarus among the restricted countries, alongside Kazakhstan, which was already on the list.
In a statement on October 17, the exchange said affected users would receive individual notices explaining when they must stop trading, close open positions and withdraw their funds. Bitget described the move as a one-time action affecting certain users, adding that its trading platform would continue operating.
The exchange has not disclosed how many accounts will be closed or announced one deadline for all affected customers.
Some users have reportedly been given until October 21 to withdraw their assets. However, Bitget said customers should follow the dates and instructions in their own notifications.
Bitget updates its list of restricted countries
Bitget’s updated terms classify people and businesses operating or residing in restricted jurisdictions as ineligible to use its services. The list includes Russia, Belarus and Kazakhstan, along with countries such as the United States, Canada, France, Germany, Japan and Singapore.
Not all countries on the list were newly restricted in the October update. The revised terms also do not confirm that every Bitget customer in Russia, Belarus or Kazakhstan will have their account closed.
When asked about Russian users, Bitget’s official support account referred to the restricted-country list and said the exchange must comply with regulations across different jurisdictions.
Bitget has not identified a specific government order behind the latest closures. It has also not explained whether the decision resulted from changes to its compliance policies, licensing requirements or other concerns.
The restrictions apply to access to Bitget’s services under its terms. They do not mean that cryptocurrency ownership or trading has been banned by every government whose country appears on the list.
Some users must withdraw funds by October 21
Affected customers are being contacted through email, in-app messages and push notifications. These messages contain account-specific deadlines and instructions for withdrawing funds.
Russian news agency Interfax reported on October 17 that some customers had received notices requiring them to stop opening new trades, placing orders and subscribing to additional products by October 18.
According to the report, those users must close their remaining positions and withdraw their assets before 10 a.m. Moscow time on October 21. Positions left open after the deadline could reportedly be closed automatically, while account access would become restricted.
Another user, posting under the name FrontMan, also reported receiving an October 21 deadline. However, the individual notice has not been independently verified.
Bitget has not confirmed these dates as a universal schedule. Customers who receive a termination notice should follow the instructions provided specifically for their accounts.
The exchange said its support team would help affected users with withdrawals and pending orders during the process. It also said customer funds remained safe, but did not announce a separate balance audit for the accounts being closed.
Users who have not received an official termination notice can continue using their accounts as long as they meet Bitget’s eligibility requirements.
The exchange also warned customers to check messages through its official website, app and verified channels to avoid phishing attempts and fake withdrawal links.
Questions remain over the account closures
Bitget has not explained how it selected the accounts facing termination or how many customers are affected. It has also not disclosed the total value of assets that users may need to withdraw.
The updated country list provides information about where the exchange restricts access, but it does not confirm that every existing customer in the affected countries has received a closure notice.
Bitget has not announced a separate appeals process for users who believe their accounts were selected by mistake. Its public guidance directs customers to support for account-related questions.
The exchange’s terms allow it to assess whether customers meet its eligibility requirements and require users to follow restrictions that apply to their location and account status.
Account closures follow September security breach
The announcement comes several weeks after Bitget suffered a security incident involving approximately $387.5 million in unauthorized cryptocurrency transfers.
On September 24, attackers accessed parts of the exchange’s wallet infrastructure. Bitget temporarily suspended withdrawals while its technical teams investigated the incident.
The exchange initially estimated the affected assets at $351.6 million but later raised the figure to around $387.5 million after identifying additional transfers across supported blockchains.
Bitget said it worked with cybersecurity specialists to investigate the breach and trace the stolen assets. It resumed Bitcoin withdrawals on September 28, followed by the restoration of Ethereum and stablecoin withdrawals in later stages.
By September 30, the exchange had restored major stablecoin withdrawals and reported a 131% proof-of-reserves ratio across 19 supported cryptocurrencies. It also reported that its User Protection Fund remained above $300 million following the incident.
Bitget has not linked the October account closures to the September security breach. Its public statement did not identify the breach, a specific regulatory order or customer misconduct as the reason for terminating the selected accounts.
For now, affected users must rely on their individual notifications for withdrawal deadlines and account-closure instructions, while the exchange has yet to disclose the full scope of the action.
