BitForex

https://bitforex.com

https://twitter.com/bitforexcom

https://www.crunchbase.com/organization/bitforex

cex

text Website: https://bitforex.com X (Twitter): https://twitter.com/bitforexcom

BitForex

BitForex is a centralized cryptocurrency exchange platform operated via the domain bitforex.com, offering services such as spot trading and derivatives (perpetual contracts), alongside other products advertised on its website (e.g., “Earn,” loans, and an NFT marketplace). (bitforex.com)

Operator and stated policies

BitForex’s Terms of Service (last revised December 1, 2022) state that the website and trading platform are “owned and operated by Bitforex Limited.” (event.bitforex.com)
The same document states that, “in order to comply with Chinese laws,” the website does not provide related transaction services to mainland Chinese residents and IP users in mainland China. (event.bitforex.com)

Association with the X (Twitter) account

The Securities and Futures Commission (SFC) of Hong Kong lists “BitForex” on its alert list of “Suspicious virtual asset trading platforms” and includes https://twitter.com/bitforexcom among the entity’s associated online presences. (sfc.hk)

Regulatory and public allegations (2023–2024)

• Japan (2023): CoinDesk reported that Japan’s Financial Services Agency (FSA) issued a warning letter naming BitForex among foreign exchanges allegedly operating in Japan without registration. (coindesk.com)
• Hong Kong (March 4, 2024): The SFC added BitForex to its alert list, stating it was suspected of engaging in fraudulent activities, and noting that investors were reportedly prevented from accessing accounts and withdrawing assets at that time. (sfc.hk)

2024 outage and withdrawal disruption

In late February 2024, BitForex’s website became inaccessible for some users amid reports of a large outflow (about $57 million) from hot wallets and withdrawals stopping, according to CoinDesk’s reporting. (coindesk.com)
Media coverage at the time discussed concerns of a potential “exit scam,” including user complaints about access and withdrawals. (decrypt.co)

Later operational updates (2025–2026)

BitForex subsequently published “Monthly Announcement” posts stating that:

• some team members were detained by Chinese authorities in late February 2024,
• the team regained system access on July 24, 2024 and resumed withdrawal processing,
• users were required to complete KYC and withdraw assets by December 25, 2025, after which management fees would be charged. (bitforex.com)

(These operational statements are claims made in BitForex’s own communications rather than independent verification.) (bitforex.com)

Notes on identification

BitForex has been described in reporting as being purportedly headquartered in Hong Kong, though the Hong Kong SFC alert emphasizes suspicion and the absence of licensing (in Hong Kong) as of its March 2024 notice. (sfc.hk)