Verify a decision

{"actor":"system:backfill","investigation_id":"3d4730c1-4369-4e11-80d9-494b6fb43800","kind":"publish","page_slug":"bitget-exchange-shawn-liu","published_at":"2026-06-27T12:05:27.299Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Bitget Exchange (Shawn Liu)","sections":[{"content":"Bitget was founded in 2018 by a team with a traditional finance background that became interested in cryptocurrency after studying the Bitcoin whitepaper and Ethereum ecosystem. The exchange is headquartered in Seychelles and serves a reported user base of over 25 million across more than 100 countries. Bitget launched its flagship copy trading product for derivatives in 2020 and extended it to spot markets in 2023, claiming the title of the world's largest crypto copy trading platform with over 100,000 professional traders and 400,000 followers. The exchange's native token, BGB (Bitget Token), launched on July 26, 2021 with an initial supply of 2 billion tokens and recorded over 1,000% price growth in 2024, reaching an all-time high of $8.45 on December 27, 2024. In late 2024, Bitget merged its wallet ecosystem token BWB into BGB. As of 2025, Bitget held approximately 6.4% global market share among centralized exchanges, ranking sixth according to CoinGecko's annual report.","heading":"Overview and Background","severity":"low","sources":[{"credibility":2,"name":"What is Bitget? - The Block","type":"news_article","url":"https://www.theblock.co/learn/308617/what-is-bitget"},{"credibility":2,"name":"Bitget Ranks #6 Globally With 45.5% Trading Volume Growth","type":"official","url":"https://www.bitget.com/blog/articles/bitget-ranks-sixth-global-trading-volume-coingecko-2025"},{"credibility":2,"name":"What Is Bitget and the Bitget Token (BGB)? - CoinGecko","type":"research","url":"https://www.coingecko.com/learn/what-is-bitget-and-the-bitget-token-bgb"}]},{"content":"Bitget's publicly identified leadership includes CEO Gracy Chen, who was appointed in May 2024, succeeding Sandra Lou. Chen holds a bachelor's degree from the National University of Singapore and an MBA from MIT, and joined Bitget as its first Managing Director in June 2022. She has been credited with co-leading a strategy that quadrupled the user base, including a partnership with footballer Lionel Messi. However, pseudonymous on-chain investigator ZachXBT alleged in May 2026 that the exchange's true decision-maker is founder Shawn Liu, and that Gracy Chen functions as 'the face' of the exchange while Liu operates behind the scenes. ZachXBT further alleged that Liu 'allows scams to operate behind the scenes.' Neither Bitget nor Shawn Liu had issued a public response to these allegations as of the time of reporting. Bitget has not independently confirmed Liu's current operational role at the exchange.","heading":"Leadership and Alleged Shadow Ownership","severity":"high","sources":[{"credibility":1,"name":"Bitget Appoints Gracy Chen as CEO","type":"official","url":"https://www.bitget.com/blog/articles/bitget-appoints-gracy-chen-as-ceo"},{"credibility":2,"name":"ZachXBT Drops New Allegations on Bitget, Pointing to Shawn Liu as the True Decision-Maker - Crypto Economy","type":"news_article","url":"https://crypto-economy.com/zachxbt-drops-new-allegations-on-bitget-pointing-to-shawn-liu-as-the-true-decision-maker/"},{"credibility":2,"name":"ZachXBT Names Bitget's Real Boss, Warns Escalation Against Chinese CEX 'Cartel' Is Coming - Bitcoin.com News","type":"news_article","url":"https://news.bitcoin.com/zachxbt-bitget-shawn-liu-cex-cartel-2026/"},{"credibility":2,"name":"ZachXBT Accuses Bitget Founder of Running Exchange Behind the Scenes - FinanceFeeds","type":"news_article","url":"https://financefeeds.com/zachxbt-accuses-bitget-founder-of-running-exchange-behind-the-scenes/"}]},{"content":"In May 2026, ZachXBT published an investigation alleging that Bitget enabled 'supply control manipulation schemes' carried out by market makers against retail users. The investigator named four tokens as alleged victims of this conduct: RAVE, RIVER, SIREN, and LAB. The most detailed allegations concerned the LAB token. On-chain data cited by ZachXBT showed that wallets linked to the LAB project team transferred approximately 96 million LAB tokens — valued at approximately $63 million — to Bitget accounts shortly before a price surge of more than 350% over 72 hours that briefly pushed LAB's fully diluted valuation to $6 billion. Following the pump, ten newly created wallets withdrew approximately 100 million LAB tokens worth roughly $480 million from Bitget within a 12-hour window. ZachXBT further alleged that approximately 95% of LAB's token supply was controlled by insiders. The investigator posted a $10,000 bounty for evidence linking LAB founder Vova Sadkov to the alleged manipulation and called on Binance, Bitget, and Gate to freeze insider profits or delist the token. ZachXBT characterized the exchange as part of a 'Chinese CEX cartel' enabling such schemes. These allegations are from a single investigative source and have not been confirmed by regulators or law enforcement as of the date of this report.","heading":"Alleged Token Manipulation and Market Maker Fraud","severity":"critical","sources":[{"credibility":2,"name":"ZachXBT Names RAVE, RIVER, SIREN, and LAB as Victims of Bitget-Enabled Market Maker Fraud - Bitcoin.com News","type":"news_article","url":"https://news.bitcoin.com/zachxbt-bitget-supply-control-manipulation-rave-river-siren-lab-2026/"},{"credibility":2,"name":"ZachXBT Says 95% of LAB Token Is Insider-Controlled - Bitcoin.com News","type":"news_article","url":"https://news.bitcoin.com/zachxbt-lab-token-insider-control-bitget-investigation-2026/"},{"credibility":2,"name":"10 Fresh Wallets Pull 100 Million LAB Tokens Worth $480M From Bitget - Bitcoin.com News","type":"news_article","url":"https://news.bitcoin.com/lab-token-bitget-withdrawal-manipulation-2026/"},{"credibility":2,"name":"ZachXBT Alleges 95% Insider Control of LAB Token - The Block","type":"news_article","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":2,"name":"ZachXBT Calls Bitget Part of 'Chinese CEX Cartel' After 100M Lab Tokens Exit - Crypto Times","type":"news_article","url":"https://www.cryptotimes.io/2026/05/12/zachxbt-calls-bitget-part-of-chinese-cex-cartel-after-100m-lab-tokens-exit/"},{"credibility":2,"name":"Bitget Faces ZachXBT Firestorm After $480M LAB Withdrawals - Bitcoinist","type":"news_article","url":"https://bitcoinist.com/bitget-zachxbt-firestorm-480-million-lab/"}]},{"content":"On April 20, 2025, Bitget's VOXEL/USDT perpetual futures market experienced abnormal trading activity. The VOXEL token surged over 200% in approximately 30 minutes, generating $12.7 billion in trading volume on Bitget — surpassing Bitcoin's $4.76 billion on the same platform the same day. Post-incident investigation revealed that a bug in Bitget's own market-making bot allowed traders to exploit the price action within a narrow price band of approximately $0.125 to $0.138. Bitget identified eight accounts suspected of extracting illicit profits exceeding $20 million from the incident, announced trade rollbacks within 24 hours, and deployed its protection fund to compensate users with legitimate losses. The exchange also initiated legal action against the eight accounts. The incident drew attention partly because Bitget CEO Gracy Chen had previously and publicly criticized Hyperliquid's decision to intervene in a similar market manipulation event involving the JELLY token, before Bitget faced an equivalent situation requiring the same type of intervention.","heading":"VOXEL Futures Incident and Trade Rollback","severity":"high","sources":[{"credibility":2,"name":"Bitget will roll back trades, compensate users after 'abnormal' VOXEL trading activity - The Block","type":"news_article","url":"https://www.theblock.co/post/351321/bitget-will-roll-back-trades-compensate-users-after-abnormal-voxel-trading-activity"},{"credibility":2,"name":"Bitget will legally pursue 8 accounts suspected of profiting $20 million from VOXEL trading manipulation - The Block","type":"news_article","url":"https://www.theblock.co/post/352090/bitget-will-legally-pursue-8-accounts-suspected-of-profiting-20-million-from-voxel-trading-manipulation"},{"credibility":2,"name":"Bitget Initiates Legal Action Against Accounts In $20M VOXEL Market Manipulation Incident - Crowdfund Insider","type":"news_article","url":"https://www.crowdfundinsider.com/2025/04/238965-bitget-initiates-legal-action-against-accounts-in-20m-voxel-market-manipulation-incident/"},{"credibility":2,"name":"Bitget's VOXEL Meltdown - Rekt News","type":"news_article","url":"https://rekt.news/bitgets-voxel-meltdown"},{"credibility":2,"name":"Understanding the Bitget Voxel Rollback Situation - Messari","type":"research","url":"https://messari.io/copilot/share/understanding-the-bitget-voxel-rollback-situation-f2e1d54c-dbe4-487c-b7a7-8a3517856b18"}]},{"content":"Bitget has received regulatory warnings and investor alerts across multiple jurisdictions spanning several years. In April 2022, Spain's Comision Nacional del Mercado de Valores issued a public warning that Bitget is not authorized to provide investment services. In January 2024, the Austrian Financial Market Authority warned against transacting with Bitget or BG Limited, which are not authorized to carry out licensed banking transactions in Austria. In February 2024, Germany's BaFin warned investors against offers from BG Limited and stated it does not supervise the entity. In April 2024, France's Autorite des Marches Financiers blacklisted Bitget, warned retail investors to exercise vigilance, and reserved the right to take legal action to block Bitget's platform; subsequently, Bitget discontinued all services for French residents effective March 31, 2026. In July 2025, Saskatchewan's Financial and Consumer Affairs Authority issued an investor alert stating that Canada Bitget Limited is not registered to trade or advise in securities or derivatives in the province, alongside the Alberta Securities Commission. On July 28, 2025, Australia's ASIC warned investors against Bitget's unlicensed cryptocurrency asset futures products, noting that the exchange's entity BTG Technology Holdings Limited does not hold an Australian Financial Services Licence and offers leverage up to 125:1 — compared to ASIC's licensed cap of 2:1. The FSA of Japan listed BTG Technology Holdings Limited as an unlicensed entity soliciting OTC derivative transactions in June 2025. Bitget maintains that it holds over eight licenses across jurisdictions including Lithuania, Poland, the UK, Czech Republic, El Salvador, Bulgaria, and Dubai (VARA registration completed late 2025).","heading":"Regulatory Warnings and Licensing Issues","severity":"critical","sources":[{"credibility":1,"name":"ASIC Investor Alert: Bitget's Unlicensed Crypto Asset Futures Products","type":"regulatory","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":1,"name":"Investor Alert: Bitget and Captex Are Not Registered - Government of Saskatchewan","type":"regulatory","url":"https://www.saskatchewan.ca/government/news-and-media/2025/july/10/investor-alert-bitget-and-captex-are-not-registered"},{"credibility":1,"name":"Canada Bitget Limited (Bitget) - Canadian Securities Administrators","type":"regulatory","url":"https://www.securities-administrators.ca/investor-alerts/canada-bitget-limited-bitget/"},{"credibility":1,"name":"Canada Bitget Limited - Alberta Securities Commission Caution List","type":"regulatory","url":"https://www.asc.ca/en/Enforcement/Investment-Caution-List/c/Canada-Bitget-Limited"},{"credibility":2,"name":"ASIC Issues Warning Over Bitget's Unlicensed Crypto Futures Products - Decrypt","type":"news_article","url":"https://decrypt.co/332009/asic-issues-warning-bitget-unlicensed-crypto-futures"},{"credibility":2,"name":"ASIC Investor Alert: Unlicensed Crypto Futures Offered by Bitget - Charltons Quantum","type":"news_article","url":"https://charltonsquantum.com/asic-investor-alert-bitget-unlicensed-crypto-futures-breach/"},{"credibility":3,"name":"Investor Warning: Bitget Under Scrutiny Across Multiple Jurisdictions","type":"news_article","url":"https://listings.ratex42.com/investor-warning-bitget-under-scrutiny-across-multiple-jurisdictions/"}]},{"content":"Bitget publishes monthly Proof of Reserves (PoR) reports using cryptographic proofs and publicly verifiable wallet snapshots. The exchange's open-source PoR code is available on GitHub. As of October 2025, Bitget reported reserve ratios of 307% for BTC, 224% for ETH, 105% for USDT, and 129% for USDC. In March 2025, the reported total reserve ratio was 213%. Bitget established a Protection Fund in 2022 with an initial allocation of $300 million, denominated largely in BTC. The fund grew to an average of $561 million in April 2025 and reached a reported high of $716 million in June 2025. These figures are self-reported by Bitget and have not been independently audited by a named third-party audit firm. The PoR methodology does not provide assurance about off-chain liabilities or whether reported wallet balances are free from encumbrance. In February 2025, Bitget transferred 40,000 ETH ($105 million) to Bybit from its own reserves during the period following the Bybit $1.4 billion Lazarus Group hack, which the exchange framed as an industry solidarity measure.","heading":"Proof of Reserves and Protection Fund","severity":"medium","sources":[{"credibility":2,"name":"Bitget Releases October 2025 Proof of Reserves (POR) with 307% Coverage in Bitcoin","type":"official","url":"https://www.bitget.com/blog/articles/bitget-october-2025-proof-of-reserves-report"},{"credibility":2,"name":"Bitget Releases March 2025 Proof-of-Reserves Report","type":"official","url":"https://www.bitget.com/blog/articles/bitget-march-2025-proof-of-reserves"},{"credibility":2,"name":"Bitget Protection Fund in June 2025 Hits $716 Million","type":"official","url":"https://www.bitget.com/blog/articles/bitget-protection-fund-june-2025-update"},{"credibility":2,"name":"Bitget Protection Fund Maintains Strength with $561 Million Average Value in April 2025 - GlobeNewswire","type":"news_article","url":"https://www.globenewswire.com/news-release/2025/05/14/3080924/0/en/Bitget-Protection-Fund-Maintains-Strength-with-561-Million-Average-Value-in-April-2025.html"},{"credibility":1,"name":"Bybit Hack News: Bitget Transfers $105M in Ether to Hacked Exchange - CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2025/02/22/exchanges-start-to-fill-bybit-s-usd1-4b-hole-as-hackers-move-stolen-funds"},{"credibility":2,"name":"GitHub: BitgetLimited/proof-of-reserves","type":"official","url":"https://github.com/BitgetLimited/proof-of-reserves"}]},{"content":"Bitget has not experienced a major external hack resulting in user fund losses as of the date of this report. The exchange employs layered custody controls including private keys generated in isolated environments, multi-level transaction verification, device segregation, and pre-approved withdrawal addresses. The VOXEL incident of April 2025, while involving a trading halt and rollback, was attributed to a bug in Bitget's internal market-making bot rather than an external attacker. No documented instances of Bitget-specific cold wallet breaches or unauthorized withdrawals of user funds have been identified in available sources.","heading":"Security Record","severity":"low","sources":[{"credibility":2,"name":"Is Bitget Safe In 2026? - Coin Bureau","type":"research","url":"https://coinbureau.com/analysis/is-bitget-safe"},{"credibility":2,"name":"Bitget and Term Finance Respond to Security Breaches - CoinPaper","type":"news_article","url":"https://coinpaper.com/8734/bitget-and-term-finance-respond-to-security-breaches-and-recovery-efforts"}]},{"content":"Bitget's Trustpilot profile contains mixed reviews from users. Individual complaints have included reports of frozen withdrawals, unresponsive support during fund disputes, and discrepancies in profit and loss calculations following the VOXEL rollback. Bitget reported blocking over 150 million malicious requests and resolving 18,135 user protection cases between July 2025 and June 2026, with $32.3 million in fraudulent activity recovered. The exchange also paused new user onboarding in India effective February 6, 2025 to align with local regulatory expectations, though existing users were not impacted. These consumer-level issues are consistent with the experience reported at major centralized exchanges and have not been elevated to formal regulatory enforcement actions on their own.","heading":"User Experience and Consumer Complaints","severity":"medium","sources":[{"credibility":3,"name":"Bitget Reviews - Trustpilot","type":"community_report","url":"https://www.trustpilot.com/review/bitget.com"},{"credibility":2,"name":"Bitget Blocks 150 Million Malicious Requests as $32.3M Recovered in Third Anti-Scam Push","type":"news_article","url":"https://thecurrencyanalytics.com/altcoins/bitget-blocks-150-million-malicious-requests-as-32-3m-recovered-in-third-anti-scam-push-270181"},{"credibility":2,"name":"Bitget Temporarily Restricts New India Sign-Ups","type":"official","url":"https://www.bitget.com/blog/articles/bitget-temporary-restriction-india-onboarding"}]}],"sources_used":[{"credibility":1,"name":"ASIC Investor Alert: Bitget's Unlicensed Crypto Asset Futures Products","type":"regulatory","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":1,"name":"Investor Alert: Bitget and Captex Are Not Registered - Government of Saskatchewan","type":"regulatory","url":"https://www.saskatchewan.ca/government/news-and-media/2025/july/10/investor-alert-bitget-and-captex-are-not-registered"},{"credibility":1,"name":"Canada Bitget Limited - Canadian Securities Administrators","type":"regulatory","url":"https://www.securities-administrators.ca/investor-alerts/canada-bitget-limited-bitget/"},{"credibility":1,"name":"Canada Bitget Limited - Alberta Securities Commission","type":"regulatory","url":"https://www.asc.ca/en/Enforcement/Investment-Caution-List/c/Canada-Bitget-Limited"},{"credibility":1,"name":"Bybit Hack: Bitget Transfers $105M in Ether to Hacked Exchange - CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2025/02/22/exchanges-start-to-fill-bybit-s-usd1-4b-hole-as-hackers-move-stolen-funds"},{"credibility":2,"name":"Bitget will roll back trades after 'abnormal' VOXEL trading activity - The Block","type":"news_article","url":"https://www.theblock.co/post/351321/bitget-will-roll-back-trades-compensate-users-after-abnormal-voxel-trading-activity"},{"credibility":2,"name":"Bitget will legally pursue 8 accounts over VOXEL manipulation - The Block","type":"news_article","url":"https://www.theblock.co/post/352090/bitget-will-legally-pursue-8-accounts-suspected-of-profiting-20-million-from-voxel-trading-manipulation"},{"credibility":2,"name":"ZachXBT Alleges 95% Insider Control of LAB Token - The Block","type":"news_article","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":2,"name":"ZachXBT Drops New Allegations on Bitget, Pointing to Shawn Liu - Crypto Economy","type":"news_article","url":"https://crypto-economy.com/zachxbt-drops-new-allegations-on-bitget-pointing-to-shawn-liu-as-the-true-decision-maker/"},{"credibility":2,"name":"ZachXBT Names Bitget's Real Boss, Warns Escalation Against Chinese CEX 'Cartel' - Bitcoin.com News","type":"news_article","url":"https://news.bitcoin.com/zachxbt-bitget-shawn-liu-cex-cartel-2026/"},{"credibility":2,"name":"ZachXBT Names RAVE, RIVER, SIREN, and LAB as Victims of Bitget-Enabled Market Maker Fraud - Bitcoin.com News","type":"news_article","url":"https://news.bitcoin.com/zachxbt-bitget-supply-control-manipulation-rave-river-siren-lab-2026/"},{"credibility":2,"name":"ZachXBT Says 95% of LAB Token Is Insider-Controlled - Bitcoin.com News","type":"news_article","url":"https://news.bitcoin.com/zachxbt-lab-token-insider-control-bitget-investigation-2026/"},{"credibility":2,"name":"10 Fresh Wallets Pull 100 Million LAB Tokens Worth $480M From Bitget - Bitcoin.com News","type":"news_article","url":"https://news.bitcoin.com/lab-token-bitget-withdrawal-manipulation-2026/"},{"credibility":2,"name":"ZachXBT Calls Bitget Part of 'Chinese CEX Cartel' After 100M Lab Tokens Exit - Crypto Times","type":"news_article","url":"https://www.cryptotimes.io/2026/05/12/zachxbt-calls-bitget-part-of-chinese-cex-cartel-after-100m-lab-tokens-exit/"},{"credibility":2,"name":"Bitget Faces ZachXBT Firestorm After $480M LAB Withdrawals - Bitcoinist","type":"news_article","url":"https://bitcoinist.com/bitget-zachxbt-firestorm-480-million-lab/"},{"credibility":2,"name":"ASIC Investor Alert: Unlicensed Crypto Futures Offered by Bitget - Charltons Quantum","type":"news_article","url":"https://charltonsquantum.com/asic-investor-alert-bitget-unlicensed-crypto-futures-breach/"},{"credibility":2,"name":"ASIC Issues Warning Over Bitget's Unlicensed Crypto Futures - Decrypt","type":"news_article","url":"https://decrypt.co/332009/asic-issues-warning-bitget-unlicensed-crypto-futures"},{"credibility":2,"name":"Bitget's VOXEL Meltdown - Rekt News","type":"news_article","url":"https://rekt.news/bitgets-voxel-meltdown"},{"credibility":2,"name":"ZachXBT Accuses Bitget Founder of Running Exchange Behind the Scenes - FinanceFeeds","type":"news_article","url":"https://financefeeds.com/zachxbt-accuses-bitget-founder-of-running-exchange-behind-the-scenes/"},{"credibility":2,"name":"Bitget Appoints Gracy Chen as CEO - Bitget Official","type":"official","url":"https://www.bitget.com/blog/articles/bitget-appoints-gracy-chen-as-ceo"},{"credibility":2,"name":"Bitget Releases October 2025 Proof of Reserves Report - Bitget Official","type":"official","url":"https://www.bitget.com/blog/articles/bitget-october-2025-proof-of-reserves-report"},{"credibility":2,"name":"Bitget Protection Fund in June 2025 Hits $716 Million - Bitget Official","type":"official","url":"https://www.bitget.com/blog/articles/bitget-protection-fund-june-2025-update"},{"credibility":2,"name":"GitHub: BitgetLimited/proof-of-reserves","type":"official","url":"https://github.com/BitgetLimited/proof-of-reserves"},{"credibility":2,"name":"What Is Bitget and the Bitget Token (BGB)? - CoinGecko","type":"research","url":"https://www.coingecko.com/learn/what-is-bitget-and-the-bitget-token-bgb"},{"credibility":2,"name":"What is Bitget? - The Block","type":"news_article","url":"https://www.theblock.co/learn/308617/what-is-bitget"},{"credibility":2,"name":"Is Bitget Safe In 2026? - Coin Bureau","type":"research","url":"https://coinbureau.com/analysis/is-bitget-safe"},{"credibility":2,"name":"Bitget Ranks #6 Globally With 45.5% Trading Volume Growth - Bitget Official","type":"official","url":"https://www.bitget.com/blog/articles/bitget-ranks-sixth-global-trading-volume-coingecko-2025"},{"credibility":2,"name":"Bitget Statistics - CoinGecko","type":"research","url":"https://www.coingecko.com/en/exchanges/bitget"},{"credibility":3,"name":"Bitget Supported and Restricted Countries (2026) - Datawallet","type":"other","url":"https://www.datawallet.com/crypto/bitget-restricted-countries"},{"credibility":2,"name":"Bitget Temporarily Restricts New India Sign-Ups - Bitget Official","type":"official","url":"https://www.bitget.com/blog/articles/bitget-temporary-restriction-india-onboarding"}],"summary":"Bitget is a Seychelles-headquartered centralized cryptocurrency exchange founded in 2018, ranking among the top 10 global exchanges by trading volume as of 2025. The platform is known for its copy trading product and native token BGB, but has drawn regulatory warnings from multiple jurisdictions including Australia (ASIC), Canada, Germany, France, Spain, and Austria for operating unlicensed derivatives products. In May 2026, on-chain investigator ZachXBT published allegations identifying founder Shawn Liu as the alleged behind-the-scenes operator and accusing Bitget of enabling token supply manipulation schemes involving at least four listed assets.","timeline":[{"date":"2018-01-01","event":"Bitget founded by a team with traditional finance backgrounds; year of founding referenced across multiple sources.","source":"The Block","source_url":"https://www.theblock.co/learn/308617/what-is-bitget"},{"date":"2020-01-01","event":"Bitget launches copy trading for derivatives, becoming the first centralized exchange to offer this product for futures.","source":"Bitget official","source_url":"https://www.bitget.com/promotion/aboutus"},{"date":"2021-07-26","event":"Bitget Token (BGB) launched with an initial supply of 2 billion tokens.","source":"CoinGecko","source_url":"https://www.coingecko.com/learn/what-is-bitget-and-the-bitget-token-bgb"},{"date":"2022-04-25","event":"Spain's CNMV issues public warning that Bitget is not authorized to provide investment services.","source":"ASIC investor alert (referencing international actions)","source_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/"},{"date":"2022-06-01","event":"Gracy Chen joins Bitget as first Managing Director.","source":"Bitget official","source_url":"https://www.bitget.com/blog/articles/bitget-appoints-gracy-chen-as-ceo"},{"date":"2024-01-10","event":"Austria's Financial Market Authority warns against transacting with Bitget or BG Limited as unlicensed entities.","source":"ASIC investor alert (referencing international actions)","source_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/"},{"date":"2024-02-06","event":"Germany's BaFin warns investors against offers from BG Limited and states it does not supervise the entity.","source":"ASIC investor alert (referencing international actions)","source_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/"},{"date":"2024-04-03","event":"France's AMF blacklists Bitget, warning retail investors and reserving rights to block the platform.","source":"Charltons Quantum","source_url":"https://charltonsquantum.com/asic-investor-alert-bitget-unlicensed-crypto-futures-breach/"},{"date":"2024-05-01","event":"Gracy Chen appointed CEO of Bitget, succeeding Sandra Lou.","source":"Bitget official","source_url":"https://www.bitget.com/blog/articles/bitget-appoints-gracy-chen-as-ceo"},{"date":"2024-12-27","event":"BGB token reaches all-time high of $8.45, representing over 1,000% growth in 2024.","source":"CoinGecko","source_url":"https://www.coingecko.com/learn/what-is-bitget-and-the-bitget-token-bgb"},{"date":"2025-02-22","event":"Bitget transfers 40,000 ETH (~$105 million) from its own reserves to Bybit following the $1.4 billion Lazarus Group hack.","source":"CoinDesk","source_url":"https://www.coindesk.com/markets/2025/02/22/exchanges-start-to-fill-bybit-s-usd1-4b-hole-as-hackers-move-stolen-funds"},{"date":"2025-04-20","event":"VOXEL/USDT perpetual futures market on Bitget generates $12.7 billion in a single day due to a market-making bot bug; Bitget rolls back trades and pursues legal action against eight accounts alleged to have extracted $20 million in illicit profits.","source":"The Block","source_url":"https://www.theblock.co/post/351321/bitget-will-roll-back-trades-compensate-users-after-abnormal-voxel-trading-activity"},{"date":"2025-06-01","event":"Japan's FSA lists BTG Technology Holdings Limited (Bitget) as an unlicensed entity soliciting OTC derivative transactions.","source":"ASIC investor alert","source_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/"},{"date":"2025-07-10","event":"Saskatchewan's FCAA and the Canadian Securities Administrators issue investor alerts stating Canada Bitget Limited is not registered to trade securities or derivatives in Canada.","source":"Government of Saskatchewan","source_url":"https://www.saskatchewan.ca/government/news-and-media/2025/july/10/investor-alert-bitget-and-captex-are-not-registered"},{"date":"2025-07-28","event":"Australia's ASIC issues investor alert warning against Bitget's unlicensed cryptocurrency futures products, citing 125:1 leverage versus the licensed cap of 2:1.","source":"ASIC","source_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/"},{"date":"2026-03-31","event":"Bitget discontinues all services for residents of France following AMF blacklisting.","source":"Bitget support center","source_url":"https://www.bitget.com/support/articles/12560603848103"},{"date":"2026-05-01","event":"LAB token surges over 350% in under 72 hours; approximately 96 million LAB tokens are moved to Bitget from team-affiliated wallets before the pump, according to ZachXBT's on-chain investigation.","source":"Bitcoin.com News","source_url":"https://news.bitcoin.com/zachxbt-lab-token-insider-control-bitget-investigation-2026/"},{"date":"2026-05-12","event":"ZachXBT publicly names Shawn Liu as Bitget's alleged behind-the-scenes operator and accuses the exchange of being part of a 'Chinese CEX cartel' enabling token supply manipulation.","source":"Crypto Times","source_url":"https://www.cryptotimes.io/2026/05/12/zachxbt-calls-bitget-part-of-chinese-cex-cartel-after-100m-lab-tokens-exit/"}]},"v":1}