Cryptocurrency exchange Bit.com issued an announcement today (27th) stating that due to business adjustments, it will be systematically scaling back its existing operations and simultaneously launching a "user asset migration plan." The official announcement stated:
Dear Bit.com user:
Effective immediately, due to business adjustments, Bit.com will be scaling back its existing services and simultaneously launching a "User Asset Migration Plan." Bit.com will continue to release clear and complete user guidance through official announcements, emails, and in-app messages to assist users in successfully completing the asset processing and migration process within a defined timeframe.
Specific schedules, procedures, and precautions will be subject to subsequent announcements and guidelines. Please pay close attention to official information releases. If you have any questions during the process, please contact Bit.com's official customer service channels.
Thank you for your continued support and understanding of Bit.com.
Detailed information on Bit.com's business restructuring and asset disposal arrangements.
On the same day, Bit.com issued a follow-up announcement , further detailing its business adjustments and asset handling arrangements. The announcement emphasized the platform's commitment to asset security and transparency, stating that all users, regardless of account type, are treated equally, with withdrawal processing times ranging from 0.5 to 24 hours. In case of delays, priority verification can be requested. The platform will maintain 24/7 asset inquiry and withdrawal services and provide one-on-one dedicated support for high-value users.
Regarding the asset handling details, the announcement states that new user registration will be suspended immediately; spot trading will cease on January 31, 2026, during which time users can withdraw or sell their assets for USDT. After January 31, any remaining small amounts of non-USDT assets (excluding those in the observation zone) will be automatically converted into USDT; contract trading only allows closing positions and does not allow opening new positions. After closing a position, funds can be withdrawn or transferred to the parent company Matrixport to reopen a position.
The cloud computing power service will be terminated on January 25, 2026. For any days not fulfilled, a refund will be issued proportionally to the original price, and the refund will be returned to the account within 5 business days. GoRich and wealth management products need to be withdrawn or cancelled by January 30. It is recommended to exchange non-mainstream assets such as Meme tokens for USDT in advance to avoid trading difficulties.
Assets not withdrawn by January 31st will be transferred to a backup site for continued withdrawal support starting February 1st, 2026, with the final service deadline being March 31st. The announcement specifically reminds users to be vigilant and guard against fraud. The platform will never ask for private keys, seed phrase, or request transfers to a "secure account." All information should be based on notifications from the official website and app.
Meanwhile, as a long-term strategic partner, Matrixport will provide a convenient account migration channel for spot and contract trading users. Users can choose whether to migrate to enjoy new customer benefits.
What is Bit.com?
Launched in 2020, Bit.com is a subsidiary of Matrixport, a Singapore-based crypto financial services platform. Matrixport was founded in 2019 by Jihan Wu, co-founder of Bitmain, who also serves as its chairman. Bit.com started with derivatives trading and offers a variety of services including spot trading, perpetual contracts, options, cloud computing power, wealth management, and GoRich. It was once considered a high-performance crypto exchage; however, this adjustment reflects the resource optimization strategy of second-tier platforms in response to changes in the market environment.
