Bitget has restricted access to its crypto services for users in Russia

The cryptocurrency exchange Bitget has added Russia, Belarus, and Kazakhstan to its list of restricted countries, whose residents will not be able to use the platform’s services. This has been reported by the media.

 

Some clients have been instructed to close their trading positions and withdraw funds by October 21; otherwise, access to their accounts will be restricted.

As The Insider discovered after reviewing the updated terms of service, the exchange also explicitly prohibits circumventing geographic restrictions using a VPN.

At the same time, the new rules allow the company to independently close open positions, restrict withdrawals, and, under certain circumstances, convert users’ assets into other cryptocurrencies.

Bitget made these changes to its terms of service on October 16.

Bitget representatives stated that users affected by the changes will receive personalized notifications via email or within the app.

The notifications will include specific deadlines and procedures for withdrawing funds. However, the company did not disclose exactly how many customers will be affected by the restrictions or the amounts of cryptocurrency held in their accounts.

Source: The Insider

As a reminder, Belarus has blocked the cryptocurrency exchanges Bitget, Bybit, and OKX.

The Bitget cryptocurrency exchange froze $1.1 million following a cyberattack.

Bitget suspects hackers from North Korea of a $352 million breach.