Add as a preferred source on GoogleBitget Sets Close-Only Mode for Japan-Resident Accounts Nov. 1
The timetable was announced before the Sept. 24 incident, which involved unauthorized transfers affecting about $388 million across 12 addresses.
Bitget will move accounts it classifies as belonging to Japan residents into close-only mode at 10 p.m. ET Oct. 31 (0200 UTC Nov. 1), limiting what affected users can do on the exchange.
Users will no longer be able to open or add positions or use most Bitget products. Limited deposits and asset withdrawals will remain available, along with crypto conversions into Bitcoin (BTC) and Ether (ETH).
Remaining open positions are scheduled for forced liquidation at 9 p.m. ET Dec. 30 (0200 UTC Dec. 31), when Bitget also plans to suspend card services. Crypto withdrawals are scheduled to remain available after that deadline.
Bitget announced the Japan service phaseout Aug. 3 to comply with Japanese regulations and set the timetable in a Sept. 17 FAQ, before the Sept. 24 incident. The Sept. 24 incident involved unauthorized transfers from hot and warm wallets, with about $388 million affected across 12 addresses. Its phased withdrawal-restoration plan was completed Oct. 2.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.