Bitget Restricts Russia and Belarus Users Under New Rules

Cryptocurrency exchange Bitget has begun closing selected user accounts following an October 16 update to its terms of use that placed Russia and Belarus on its list of prohibited jurisdictions alongside Kazakhstan.

In an October 17 statement on social media platform X, Bitget confirmed that affected customers would receive direct notifications instructing them when to halt trading, liquidate open positions, and withdraw their remaining balances. The exchange described the closures as a "one-off exercise for certain users only" while noting that standard trading platform operations remain active for eligible accounts, according to CryptoNews.

Phased Account Terminations

Russian news agency Interfax reported that certain affected users received notices setting an October 18 deadline to stop opening new positions, placing orders, or subscribing to products. According to those instructions, customers were given until 10:00 a.m. Moscow time on October 21 to withdraw all funds, after which remaining positions would close automatically and login access would be restricted.

Bitget did not publish a universal deadline across its primary channels, noting that individual account schedules are communicated directly via email, in-app messages, and push notifications. Customers who have not received a termination notice may continue using the platform under existing terms. Other jurisdictions already appearing on Bitget's restricted list include the United States, Canada, France, Germany, Japan, and Singapore.

Compliance and Recent Security Breach

The company did not cite a specific regulatory order or disclose the total number of accounts or asset values involved in the closures. In response to customer inquiries, Bitget support cited compliance obligations across international regulatory frameworks.

The policy implementation comes several weeks after a September 24 security breach at Bitget involving approximately $387.5 million in unauthorized transfers from its wallet infrastructure, which prompted a temporary suspension of withdrawals while investigations were conducted.

Key facts

• Bitget added Russia and Belarus to its prohibited jurisdictions list following an October 16 terms of use update.
• Russian news agency Interfax reported customers received an October 18 trading cutoff and an October 21 withdrawal deadline.
• Bitget characterized the move as a one-off measure applying to selected accounts rather than a blanket closure for all users.
• The account closures follow a September 24 security breach involving $387.5 million in unauthorized transfers.