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{"actor":"system:backfill","investigation_id":"1297716a-0f85-4f49-905d-8e9cddae14b8","kind":"publish","page_slug":"bitget","published_at":"2026-05-19T20:59:36.713Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Bitget","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://en.wikipedia.org/wiki/Bitget"},{"credibility":3,"name":"","type":"other","url":"https://www.theblock.co/learn/308617/what-is-bitget"},{"credibility":3,"name":"","type":"other","url":"https://www.prnewswire.com/in/news-releases/bitget-appoints-gracy-chen-as-ceo-302151311.html"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://www.globenewswire.com/news-release/2024/08/21/2933475/0/en/Bitget-Achieves-ISO-27001-2022-Certification-Strengthening-Commitment-to-Transparency-and-Security.html"},{"credibility":3,"name":"","type":"other","url":"https://www.theblock.co/post/352090/bitget-will-legally-pursue-8-accounts-suspected-of-profiting-20-million-from-voxel-trading-manipulation"},{"credibility":3,"name":"","type":"other","url":"https://rekt.news/bitgets-voxel-meltdown"},{"credibility":3,"name":"","type":"other","url":"https://www.crowdfundinsider.com/2025/04/238965-bitget-initiates-legal-action-against-accounts-in-20m-voxel-market-manipulation-incident/"},{"credibility":3,"name":"","type":"other","url":"https://dfi.wa.gov/consumer/alerts/possible-cryptocurrency-fraud-wwwbitgetsio"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://www.amf-france.org/en/news-publications/news-releases/amf-news-releases/amf-reminds-public-cryptoasset-trading-platform-bitget-blacklisted"},{"credibility":3,"name":"","type":"other","url":"https://www.asic.gov.au/about-asic/news-centre/news-items/investor-alert-asic-warns-investors-of-bitget-s-unlicensed-crypto-asset-futures-products/"},{"credibility":3,"name":"","type":"other","url":"https://www.coindesk.com/policy/2025/08/06/philippines-sec-cracks-down-on-unregistered-crypto-exchanges-as-new-rules-kick-in"},{"credibility":3,"name":"","type":"other","url":"https://www.idnfinancials.com/news/56446/philippines-blocks-10-crypto-exchanges-bybit-and-bitget-blacklisted"},{"credibility":3,"name":"","type":"other","url":"https://medium.com/@irncyp/crypto-whistleblower-the-5-6m-bitget-scam-and-the-industry-silence-that-enabled-it-8d2282eedb72"},{"credibility":3,"name":"","type":"other","url":"https://www.bitget.com/promotion/regulatory-license"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://www.globenewswire.com/news-release/2025/10/22/3171093/0/en/Bitget-Releases-October-2025-Proof-of-Reserves-POR-with-307-Coverage-in-Bitcoin-BTC-for-Users-Reserves.html"},{"credibility":3,"name":"","type":"other","url":"https://github.com/BitgetLimited/proof-of-reserves"},{"credibility":3,"name":"","type":"other","url":"https://www.bitget.com/proof-of-reserves"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://www.globenewswire.com/news-release/2025/12/08/3201340/0/en/Bitget-October-2025-Protection-Fund-Maintains-741M-Average-Despite-Slumptober.html"},{"credibility":3,"name":"","type":"other","url":"https://bitcoinist.com/bitget-raises-its-protection-fund-to-300m-to-reassure-users-after-ftxs-collapse/"},{"credibility":3,"name":"","type":"other","url":"https://www.prnewswire.com/news-releases/bitget-increases-protection-fund-to-300m-to-safeguard-users-assets-after-ftxs-fall-301682663.html"},{"credibility":3,"name":"","type":"other","url":"https://medium.com/@irncyp/bitget-legal-timeline-misconduct-evidence-eu-law-violations-866087147d27"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://news.bitcoin.com/zachxbt-bitget-supply-control-manipulation-rave-river-siren-lab-2026/"},{"credibility":3,"name":"","type":"other","url":"https://www.theblock.co/post/401290/zachxbt-alleges-95-insider-control-of-lab-token-in-investigation-into-ai-terminals-6-billion-fdv-project"},{"credibility":3,"name":"","type":"other","url":"https://www.amf-france.org/en/warnings/blacklists/crypto-currencies/wwwbitgetcom"},{"credibility":3,"name":"","type":"other","url":"https://www.asic.gov.au/about-asic/news-centre/news-items/investor-alert-asic-warns-investors-of-bitget-s-unlicensed-crypto-asset-futures-products/"},{"credibility":3,"name":"","type":"other","url":"https://coinbureau.com/analysis/is-bitget-safe"},{"credibility":3,"name":"","type":"other","url":"https://brokerchooser.com/safety/bitget-broker-safe-or-scam"}]}],"sources_used":[],"summary":"Bitget is a Seychelles-incorporated centralized cryptocurrency exchange founded in 2018, offering spot, futures, and copy trading to a claimed user base exceeding 150 million. While the exchange has never suffered a direct hack of user funds and publishes monthly proof-of-reserves attestations, it faces a pattern of serious regulatory actions across multiple jurisdictions — including blacklisting by France's AMF, warnings from Australia's ASIC and Japan's FSA, and a ban by the Philippines SEC — and has attracted allegations from blockchain investigator ZachXBT that it knowingly enabled supply-control market manipulation schemes targeting retail traders in 2026.","timeline":[{"date":"2018-01-01","event":"Bitget founded in Seychelles by a team with traditional finance backgrounds.","source":""},{"date":"2020-01-01","event":"Bitget launches copy trading, a feature that becomes a primary growth driver.","source":""},{"date":"2022-11-01","event":"Following FTX collapse, Bitget raises its Protection Fund to $300 million and accelerates proof-of-reserves publishing.","source":""},{"date":"2022-12-01","event":"Bitget launches monthly Proof of Reserves program using Merkle-tree attestations.","source":""},{"date":"2023-11-07","event":"France's AMF blacklists Bitget for operating without mandatory DASP registration.","source":""},{"date":"2024-05-21","event":"Gracy Chen appointed CEO, succeeding Sandra Lou. Chen holds an MBA from MIT and had served as Managing Director since 2022.","source":""},{"date":"2024-08-21","event":"Bitget achieves ISO 27001:2022 certification for information security management.","source":""},{"date":"2025-01-17","event":"Whistleblower Farid Mahmoodi alleges Bitget froze his account without warning, locking approximately $250,000 in assets.","source":""},{"date":"2025-04-20","event":"VOXEL perpetual futures market incident: a flaw in Bitget's market-making bot enables traders to extract an estimated $20 million in aberrant profits. Trading volume reaches $12.7 billion in one day.","source":""},{"date":"2025-04-27","event":"Bitget announces legal action against eight accounts involved in the VOXEL incident and initiates rollback of implicated trades.","source":""},{"date":"2025-07-28","event":"Australia's ASIC issues investor alert warning that Bitget's crypto futures products are unlicensed and carry up to 125:1 leverage, far exceeding regulatory limits.","source":""},{"date":"2025-08-01","event":"Philippine SEC names Bitget among ten banned exchanges for operating without CASP authorization. Philippine ISPs begin blocking access.","source":""},{"date":"2025-06-01","event":"Japan's FSA warns that Bitget's operating entity (BTG Technology Holdings Limited) is soliciting OTC derivative transactions without statutory registration.","source":""},{"date":"2026-05-01","event":"ZachXBT publishes investigation alleging Bitget knowingly enabled market maker supply-control manipulation across tokens RAVE, RIVER, SIREN, and LAB, naming founder Shawn Liu as an alleged behind-the-scenes enabler.","source":""},{"date":"2026-05-14","event":"ZachXBT publishes findings alleging 95% insider control of LAB token supply, with 100 million LAB tokens ($480 million) withdrawn from Bitget within 12 hours.","source":""}]},"v":1}