SINGAPORE, Nov. 21, 2025 (GLOBE NEWSWIRE) — BitForex, the global one-stop digital asset service platform, has issued its official November 2025 operational update, outlining progress on user withdrawals, compliance, and restructuring efforts.
Over the past three months, the platform processed the equivalent of $8.93 million in withdrawals, serving approximately 1,975 users during that period. The company also addressed misinformation circulating online, reaffirming its commitment to transparency and regulatory compliance.
BitForex acknowledged the challenges its users have faced over the past year and said it remains focused on restoring normal operations in a transparent and orderly way.
Transparency, User Trust and Next Steps for Withdrawals
BitForex strongly denied all allegations of misconduct, stating that the company has never engaged in any “rug pull,” scam, or fraudulent activity. The exchange emphasized that any false or misleading information or defamatory articles circulating online are untrue, and it reserves the right to pursue legal action against those responsible.
The update also revisited the events of Feb. 27, 2024, when several BitForex team members were detained by Chinese authorities as part of an investigation, causing services to be temporarily unavailable. Since regaining system access on July 24, 2024, the company said its team has been working continuously to process withdrawals, with more than 50% of users’ assets successfully withdrawn to date.
As part of its recovery roadmap, BitForex announced that all users are required to complete Know Your Customer (KYC) verification and withdraw their assets before December 25, 2025. Accounts that fail to do so by the deadline will be subject to a monthly management fee, introduced as part of the platform’s restructuring policy.
Under the new policy, a 5% monthly fee will apply to remaining account balances, with a minimum deduction of $10. For balances below $10, a flat $10 charge will still apply. Account snapshots and deductions will occur on the 25th of each month, starting December 25, 2025.
Importantly, users who have completed KYC and applied for withdrawal before December 25, 2025, but whose withdrawals remain pending will not be charged the fee, ensuring fair treatment for users already in the process of asset retrieval.
BitForex Restructures Operations to Meet Global Compliance Standards
As part of its wider recovery plan, BitForex has introduced several operational changes to strengthen security and ensure full compliance with international standards. At this stage, all trading functions, including buy and sell operations, remain suspended, while new user registrations and deposits are temporarily unavailable.
The exchange said these measures are part of a broader restructuring process to strengthen transparency and compliance. Most platform products remain paused during this phase.
Withdrawals, on the other hand, remain fully active and are limited to verified personal or third-party wallets, reflecting BitForex’s focus on protecting user assets through clear verification procedures. KYC verification is now mandatory for all withdrawal requests, reinforcing its long-term commitment to transparency and regulatory cooperation.
BitForex added that these adjustments represent the next step in a gradual transition, one that seeks to rebuild user confidence and align all operations with global standards for digital asset management and anti–money laundering compliance.
BitForex Reaffirms Asset Safety and Apologizes to Users
BitForex extended an apology to its global user base for the disruption caused by last year’s incident and the subsequent service adjustments. The company noted that many users have waited patiently throughout this process and said their continued trust remains “the driving force behind BitForex’s recovery.”
“We deeply regret the inconvenience caused and sincerely thank our community for its patience,” BitForex said in an official statement. “The exchange remains focused on completing pending withdrawals and ensuring a transparent, compliant future for all users.”
The exchange also urged users to remain vigilant against potential scams or impersonation attempts, noting that the official website (bitforex.com) and official support email ([email protected]) are the only valid communication channels.
PC version only: The mobile website and app are currently unavailable. Users should verify that they are accessing official BitForex domains to avoid phishing or fraudulent websites.
BitForex said the ongoing restructuring process marks an important milestone in its recovery roadmap. The company plans to complete all pending withdrawals, finalize its compliance audit, and gradually restore platform services once all regulatory requirements are met.
BitForex will continue sharing updates as progress is made, ensuring users stay informed at every step of the process.
About BitForex
Founded in 2018, BitForex is a global cryptocurrency exchange providing access to a wide range of digital assets for traders and investors worldwide. The platform has served users across more than 180 countries and remains focused on asset security, operational transparency, and global compliance. BitForex continues to evolve its infrastructure and governance model to align with international standards for digital finance, reinforcing its mission to provide a secure and transparent trading environment for global users and institutions alike.
