In response to recent online and social media rumors that "BitTap is terminating Chinese-speaking users" and that "a large number of accounts have been locked and unable to withdraw funds," the BitTap Risk Management and Operations Team issued an official statement on the evening of the 19th, clarifying that the platform's core trading and deposit/withdrawal functions are operating normally, and there have been no large-scale terminations or targeted account locks targeting specific languages or regions. BitTap emphasized that asset security and compliance are its top priorities, and individual accounts restricted for risk management reasons will be reviewed on a case-by-case basis in accordance with its procedures.
BitTap: Facts and Nature of the Incident
BitTap stated that during recent routine monitoring and compliance inspections, it discovered that several accounts exhibited significant abnormal trading patterns (including but not limited to high-frequency arbitrage, abnormal arbitrage, and self-trading) across various channel activities and promotions. This was accompanied by a surge in suspected fraudulent KYC registrations, including significant overlap between account registration and verification times, synchronized last login times, multiple accounts associated with the same IP address or device, or displaying unusual invitation links. Comprehensive assessments indicate that these activities are clearly organized and targeted, exploiting loopholes or other illegal means to obtain improper rewards, and have seriously disrupted the fairness of the activities and trading order.
To maintain market order and protect the rights and interests of the vast majority of compliant users, the platform has immediately initiated temporary risk management and compliance review procedures for the accounts involved. As a result, some accounts have experienced withdrawal delays or short-term restrictions on trading permissions.
BitTap stated that it has also noticed that some accounts or organizations identified, restricted, or removed for violations have used social media channels to spread false claims such as "clearance" and "withdrawal restrictions" in an attempt to cover up their violations and divert public attention. Regarding such malicious and misleading behavior, the platform will resolutely clarify the facts and reserve the right to pursue relevant legal and compliance responsibilities.
BitTap reiterates that all risk management measures are based on objective transaction evidence and established rules, and are not biased based on language, ethnicity, region, or any other group attributes. To prevent the spread of improper gains and safeguard the interests of compliant participants, the platform has implemented protective measures for suspected violating accounts, including suspending reward distribution, restricting related functions, and temporarily freezing logins. As a result, some users may be unable to claim rewards or experience operational restrictions in the short term.
For restricted users, if the review determines that the decision was made in error, the platform will restore their permissions and reissue their legal benefits according to procedures. If the review confirms violations, the platform will take appropriate action in accordance with the "BitTap Abnormal Trading Supervision Standards and Handling Measures" and the platform's Terms of Service, including confiscation of improper gains, disqualification from events, account freezing or closure, and, where necessary, legal and compliance enforcement. Affected users are requested to submit complete appeal materials through the official customer service ticket. The platform's compliance team will review and handle the matter as soon as possible, ensuring compliance and security.
Current Status of the BitTap Platform
- Core system: Core functions such as deposits, withdrawals, and trade matching maintain stable operation, and overall liquidity and system availability have not been systematically affected or shut down.
- Fund security: We have kept complete records of the fund flows of suspected abnormal transactions and have taken necessary preservation measures. The financial rights and interests of compliant users have not been affected by this risk control action.
- According to CoinMarketCap data , BitTtap's market has continued to receive orders normally in the past 24 hours, and no special fluctuations have occurred.
Restricted account types
The platform stated that the restrictive measures were based on high-risk transactions or suspicious behaviors detected by risk control, including but not limited to:
- Batch registration, false KYC, multiple people collaborating on scalping or cross-trading to obtain event rewards;
- Self-trading, AB position hedging, ultra-short-term high-frequency abnormal opening and closing of positions, or programmatic trading violations;
- Using the same funding source or device fingerprint to send simultaneous instructions resulting in abnormal trading volume;
- Exploiting system or activity loopholes to obtain improper benefits;
The above actions are determined based on risk control rules and manual review results, and are not based on the user's language or nationality.
Response and complaint channels for affected users
If your BitTap user account receives a restriction notification, please follow the platform's instructions and follow the steps below:
- Prioritize submitting your complaint and supporting documents through the official customer service ticket (please do not provide sensitive information such as passwords, dynamic passwords, etc. in the ticket or other channels). Ticket link (priority): https://support.bittap.com/hc/zh-cn/requests/new?ticket_form_id=10102492223503
- Required documents (example): Description of the incident (whether you commissioned brokerage, whether you used a strategy program), transaction evidence (order number/transaction hash/screenshot with time, price, and quantity), deposit and withdrawal and wallet address certificates, identification documents (ID card/passport, etc.), and if brokerage is used, a letter of authorization and the broker's ID.
- Upon receipt of all required documents, the platform will initiate a review process. During this review, relevant evidence will be retained and, depending on the circumstances, temporary protection or restoration of operational permissions will be granted. The platform encourages users to submit all required documents at once to expedite processing.
Subsequent processing flow
Platform description, the subsequent processing will have the following steps.
- Initial response: Upon receiving a valid work order, the platform will respond with an acceptance number and generally provide a preliminary review result or request additional documents within 3 working days (depending on the complexity of the case).
- In-depth review: For cases involving on-chain transactions, cross-account connections, or those requiring forensic verification, the platform will conduct data cross-verification, device fingerprint comparison, and manual investigation. Complex cases may require longer processing time, and the platform will notify users of progress at each stage via work tickets or emails.
- Results and Remedies: If a violation is confirmed upon verification, the platform will take appropriate measures in accordance with these Rules and the Terms of Service (including but not limited to: warnings, account restrictions/freezing, confiscation of improper gains or account closure). If the verification determines that it is a misjudgment, the platform will restore account permissions as soon as possible after confirmation and reissue the delayed or deducted compliance benefits.
The platform's continuous risk control and user reminders
BitTap stated that it will continue strengthening its anti-cheating rules, optimizing invite link detection and device fingerprint matching capabilities to reduce the risk of rule circumvention . It will also establish a rapid review channel for misjudgments to minimize user wait times. The platform also reiterated its urging users to rely solely on official announcements and help center information, and not to trust unverified social media posts or provide sensitive information to unofficial accounts.
Official channels and contact information
Support Ticket (priority): https://support.bittap.com/hc/zh-cn/requests/new?ticket_form_id=10102492223503
BitTap official website and help center: https://www.bittap.com/help
