Bitget Slammed with 60-Page Lawsuit Alleging Shady Practices – Should Users Run?

In a recent series of revelations, Bitget, a renowned crypto exchange, has come under scrutiny, with serious allegations leveled against its operations.

A prominent figure in the crypto community has served Bitget with a claim exceeding $16 million, citing damages and lost funds purportedly due to the platform’s unethical practices. This individual argues that the exchange has been flagrantly ignoring legal norms and regulations, thereby risking the investments of its users. The overarching advice? Withdraw funds from Bitget before it potentially faces significant legal ramifications.

Read our Bitget review here.

Several of the critical concerns shared include:

  1. Breach of Trust: Despite users completing full KYC (Know Your Customer) procedures, Bitget allegedly holds the power to block funds without any prior warning or clear justification. Such practices are deemed extremely risky, especially for a centralized exchange (CEX).
  1. Misleading Media Campaigns: There are reports that Bitget has been conducting deceptive media campaigns, enticing users to deposit funds. Such activities, if true, could severely harm the community’s credibility, making it challenging for newcomers to foster trust in the crypto ecosystem.
  2. Market Manipulation of $BGB: $BGB, Bitget’s native token, is under the scanner. Despite recently securing $10 million from Dragonfly, some believe the token’s operations are nothing short of a scam, with allegations of breaking laws and distorting the market.
  3. Exorbitant Fees: Bitget’s fee structure is also under criticism. Many claim the platform imposes excessive charges on projects, and in some cases, these projects are unceremoniously delisted, resulting in substantial losses for both the project creators and the wider community.
Trade on US-Banned Exchanges With No KYC 🤫

Tired of missing hot new listings because your favorite exchange is banned in the US? 🇺🇸

With RocketXchange you can finally trade on Kucoin, ByBit and more without registration or KYC! 🙌

Simply connect your wallet to access every coin. No VPN needed.

Seamlessly bridge between EVM, Solana, Cosmos and 100+ chains. Discover the next crypto gem with low fees.

Take your trading to the next level with:

  • Instant access to banned CEXs 🚫
  • No KYC required 🙅‍♂️
  • Trade on your terms – no registration required
  • Maintain full custody – tokens stay in your wallet
  • Access liquidity across leading DEXs and CEXs
  • Bridge assets quickly between any blockchain

Escape CEX limits today with RocketXchange!

Show more +

The legal documentation detailing these allegations reportedly spans over 60 pages, showcasing a plethora of other concerns. The aim is clear – hold Bitget and associated entities accountable for purportedly overlooking and taking advantage of its users.

In light of these allegations, two renowned publications, Cryptopolitan and Coindesk, are also investigating the matter to uncover the truth. Both have already released pieces detailing the ongoing controversies surrounding Bitget.

With legal battles looming and the crypto community awaiting clarity, this could mark a significant turn in how exchanges operate and how they are held accountable for their actions.

intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of


Felix Küster
Felix Küster

Felix Kuester works as an analyst and content manager for Captainaltcoin and specializes in chart analysis and blockchain technology. He is also actively involved in the crypto community - both online as a central contact in the Facebook and Telegram channel of Captainaltcoin and offline as an interviewer he always maintains an ongoing interaction with startups, developers and visionaries. The physicist has couple of years of professional experience as project manager and technological consultant. Felix has for many years been enthusiastic not only about the technological dimension of crypto currencies, but also about the socio-economic vision behind them.

We will be happy to hear your thoughts

Leave a reply