Crypto exchange Bit.com set to wind down operations

Bit.com has initiated a three-step shutdown of its operations set to run from December 27 to March 31, 2026. 

Bit.com has advised its users to migrate their assets through the provided options, such as direct withdrawals and migration to its partner platform Matrixport, before it shuts down by the end of March.

Bit.com’s plan for a gradual shutdown

The cryptocurrency exchange Bit.com announced through its social media channels on December 27 that it will wind down its operations through a business restructuring. Consequently, it launched a “User Asset Migration Plan” to help customers withdraw or transfer their holdings.

The exchange released a detailed timeline running through March 31, 2026. Bit.com has promised to complete “all transparent and traceable migration of user assets within a clear time window” while maintaining equal treatment for all account types during the withdrawal process.

Which services will Bit.com stop?

Starting immediately, Bit.com has suspended new user registrations. Existing customers can still login, view their assets, and participate in the migration process.

The platform says normal withdrawal applications will be processed within 0.5 to 24 hours.  Priority verification will be available to users through customer service for any delays exceeding one working day.

Spot trading on the exchange will continue until January 31, 2026, after which all trading functions stop.

Users can withdraw assets directly or convert holdings to USDT before the deadline. Afterwards, any remaining small non-USDT assets will be automatically converted to USDT at closing prices, excluding observation area currencies, which users must withdraw manually beforehand.

Opening new contract trading positions has already been disabled. Users can only close existing positions.

Cloud computing power services will terminate on January 25, 2026, with all mining income settled at that time. Users with active cloud mining orders will receive refunds for unfulfilled service days calculated from January 25 to the expiration date of the original order.

Automatic income calculations for financial product holders will continue until January 30, 2026. After settlement, users must withdraw assets themselves through the app for supported currencies like USDT.

What should Bit.com users do now?

Users can withdraw funds normally from the main platform until January 31, 2026.

From February 1, assets that have still not been withdrawn will be moved to a backup station system, where users can only register and withdraw assets. The exchange has clarified that assets will not be cleared, confiscated, or disposed of during this phase.

March 31 is the final chance to apply for withdrawals through the backup station’s customer service channels.

If you have funds on Bit.com, only rely on its official website announcements and the official app for legitimate information.

As is usually the case, fraudsters and bad actors already have systems to take advantage of Bit.com’s situation. The exchange has also issued fraud warnings, reminding users that official communications will never request passwords, SMS verification codes, mnemonics, or private keys through private messages. The exchange will not ask users to transfer funds to “security accounts.”

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