This Bitget review starts with the event that now defines the exchange: on 24 September 2026 attackers drained about $388 million from Bitget’s hot-wallet system, the largest crypto theft reported this year. Bitget absorbed the loss with its own Protection Fund and reopened withdrawals within about a week. Beyond the incident, Bitget is a Seychelles-registered derivatives-heavy exchange founded in 2018, with very low futures fees, a catalogue of more than 850 coins on CoinGecko and monthly proof of reserves, but no top-tier licence. It suits experienced traders outside restricted markets who accept offshore custody risk.
Bitget at a glance
| Item | Details (November 2026) |
|---|---|
| Operator | BTG Technology Holdings Limited (per Terms of Use) |
| Founded / base | 2018 / Victoria, Seychelles |
| Licences | National VASP-type registrations only; MiCA application pending in Austria |
| Coins / pairs | 854 coins, 919 pairs (CoinGecko) |
| Spot fees | 0.10% maker / 0.10% taker (20% off in BGB) |
| Futures fees | From 0.02% maker / 0.06% taker |
| Max leverage | Up to 125x on selected contracts |
| Proof of reserves | Monthly; 122% total ratio (August 2026) |
| Protection Fund | 5,500 BTC |
The September 2026 security incident
According to Bitget and reporting by The Block, unauthorised transfers began at around 18:31 UTC on 24 September. The attacker exploited a vulnerability in a third-party security product that Bitget used, obtained high-level internal credentials and pushed fraudulent withdrawal commands through the wallet system. Ether, USDT, USDC, AVAX and BNB were reported among the assets moved. Bitget stated that private keys, cold wallets and customer balances were not affected and that its User Protection Fund, which holds 5,500 BTC, would cover the full loss. Mandiant and SlowMist were brought in to investigate, and Bitget told media it suspected a state-backed North Korean group.
Withdrawals were paused, then restored in stages under the company’s withdrawal resumption notice: BTC on 28 September, ETH on 29 September, USDT on 30 September and all remaining tokens, fiat and P2P on 2 October. Trading and deposits kept running. The episode still shook confidence: Bloomberg Government reported roughly $463 million of net outflows in the 24 hours to 29 September, the biggest one-day outflow DefiLlama had recorded for any exchange. No customer reported a loss of balance, but the breach shows that operational security, not only solvency, matters when you leave coins on any centralised platform.
Regulation and safety
Bitget’s licensing is a patchwork rather than a single strong authorisation. The company cites a registration with Australia’s AUSTRAC, a Bulgarian VASP licence from the National Revenue Agency (February 2025), registrations in Poland, Lithuania, Italy and the Czech Republic, approvals in El Salvador and a digital asset licence in Georgia’s Tbilisi Free Zone (June 2025). These are mostly anti-money-laundering registrations, not prudential supervision of client assets.
In Europe, Bitget EU in Vienna applied to Austria’s FMA for a MiCA licence, announced in June 2026; CASP Tracker found no authorisation on the ESMA register as of 5 November 2026. France’s AMF blacklisted bitget.com from November 2023 until July 2026, and Bitget wound down French accounts in March 2026. Singapore’s MAS lists Bitget on its Investor Alert List. The US, Singapore, France, Germany and Austria are prohibited countries in the terms of use.
On the solvency side, Bitget has published monthly Merkle-tree reports since December 2022. The 45th report (August 2026) showed a 122% total reserve ratio, and users can check their own balances on the proof-of-reserves page. Bloomberg Government put on-chain reserves at about $5.7 billion after the outflows.
Trading fees
Fees are one of the stronger arguments in any Bitget review. Spot trading costs a flat 0.10% for makers and takers at the base level, and turning on “Use BGB to offset fees” cuts that by 20%. Futures are cheaper per trade. Rates below are as of November 2026; check the official fee schedule before trading.
| Fee type | Standard user | Notes |
|---|---|---|
| Spot maker / taker | 0.10% / 0.10% | 0.08% when paid in BGB |
| USDT-M futures maker / taker | 0.02% / 0.06% | Lower at VIP tiers |
| Funding rate | Variable | Settled every 8 hours |
| Crypto deposit | Free | Network fee only on the sending side |
| Crypto withdrawal | Varies by coin/network | Adjusted with network conditions |
Products and markets
CoinGecko lists 854 coins and 919 spot pairs on Bitget, which places it among the broadest catalogues. Derivatives are the core business: USDT-margined, USDC-margined and coin-margined perpetuals with up to 125x leverage on selected contracts, although many newer listings are capped at 20x. A multi-asset margin mode lets BTC, ETH, SOL, USDC, BGB and several other coins serve as collateral, with an interest-free allowance of 20,000 USDT on debt from unrealised losses.
Bitget made its name with copy trading, and it also offers trading bots, Earn products and a P2P marketplace. Leverage at 50x or 125x means a move of 2% or less can wipe out a position, so beginners should treat these tools with caution.
Account opening and KYC
Since 1 January 2024, identity verification has been required for deposits and trading. Level 1 needs an ID card, passport, driving licence or residence permit; manual reviews also ask for a selfie holding the ID and a handwritten note. Reviews usually take up to 60 minutes. Once verified, a VIP 0 user can withdraw up to 3 million USDT per 24 hours, rising to 20 million at VIP 7.
Deposits and withdrawals
Bank deposits are available after KYC in 14 fiat currencies, including EUR for most euro-area countries plus BRL, PLN, CZK, DKK, AUD, CAD, NOK, SEK, CHF, HUF, ZAR and VND. Limits and fees depend on the currency and payment partner. Where bank transfer is not supported, Bitget points users to card purchases, third-party payment services or the P2P market. Crypto deposits are free, and withdrawal fees are set per coin and network.
Who Bitget suits and who should avoid it
- Suits: active derivatives and copy traders who want low fees, deep liquidity and a wide altcoin list, and who live in a country Bitget serves.
- Suits: users who value monthly proof of reserves and a large self-funded protection fund.
- Avoid: residents of the US, Singapore, France, Germany or Austria, and anyone who needs a MiCA, FCA or similar top-tier licence.
- Avoid: beginners tempted by high leverage, and anyone uneasy after the 2026 breach.
Final verdict on this Bitget review
Bitget offers competitive pricing, more than 850 coins and transparent monthly reserves, and its handling of the September 2026 exploit, covering about $388 million from its own fund and restoring withdrawals within eight days, kept customers whole. The weak points are regulatory: no top-tier authorisation, a pending MiCA file and several country exits. We rate Bitget 3.9 out of 5. Crypto prices are volatile and exchange custody carries risk, so keep only trading balances on the platform.
Compare Bitget with the other top crypto exchanges, or read our Binance review and Gate review.
FAQ
Is Bitget regulated?
Bitget holds no top-tier licence. It relies on national registrations such as Australia’s AUSTRAC, Bulgaria, Poland, Lithuania, El Salvador and Georgia’s Tbilisi Free Zone, while its EU unit’s MiCA application with Austria’s FMA was still pending in November 2026.
What happened in the Bitget hack of September 2026?
On 24 September 2026 attackers abused a flaw in a third-party security product to obtain internal credentials and sent fraudulent withdrawals worth about $388 million. Bitget said private keys, cold wallets and user balances were unaffected, covered the loss from its 5,500 BTC Protection Fund and restored withdrawals in phases between 28 September and 2 October.
What are Bitget’s trading fees?
Standard spot fees are 0.10% maker and 0.10% taker, reduced by 20% when paid in BGB. USDT-margined futures start at 0.02% maker and 0.06% taker, with lower rates at VIP levels.
Does Bitget require KYC?
Yes. Identity verification has been required for deposits and trading since 1 January 2024, and it is also needed for fiat deposits and P2P. Verified VIP 0 users can withdraw up to 3 million USDT per 24 hours.
Does Bitget publish proof of reserves?
Yes. Bitget has published monthly Merkle-tree proof of reserves since December 2022; the August 2026 report showed a total reserve ratio of 122%.
Facts compiled on 8 November 2026 from the official website, regulator registers and independent reviews listed in the sources. Fees and conditions change; confirm on the official site before opening an account.