BitForex, a global digital asset service platform, has released its official November 2025 operational update, detailing progress in user withdrawals, compliance efforts, and restructuring initiatives.
Over the preceding three months, the platform facilitated the withdrawal of assets equivalent to $8.93 million, serving approximately 1,975 users during this timeframe. The company has also actively addressed online misinformation, reinforcing its dedication to transparency and adherence to regulatory requirements.
BitForex has acknowledged the difficulties its users have encountered over the past year and stated its ongoing commitment to restoring normal operations in a transparent and systematic manner.
Transparency, User Trust, and Next Steps for Withdrawals
BitForex has categorically denied all allegations of misconduct, asserting that the company has never been involved in any “rug pull,” scam, or fraudulent activity. The exchange emphasized that any false, misleading, or defamatory information circulating online is untrue, and it reserves the right to initiate legal proceedings against those responsible.
The update also provided further context on the events of February 27, 2024, when several BitForex team members were detained by Chinese authorities as part of an investigation, leading to temporary service disruptions. Since regaining system access on July 24, 2024, the company has reported that its team has been diligently working to process withdrawals, with over 50% of users' assets successfully withdrawn to date.
As part of its recovery strategy, BitForex has announced that all users are now required to complete Know Your Customer (KYC) verification and withdraw their assets by December 25, 2025. Accounts that do not meet this deadline will be subject to a monthly management fee, implemented as part of the platform's restructuring policy.
Under this new policy, a 5% monthly fee will be applied to remaining account balances, with a minimum deduction of $10. For balances under $10, a flat charge of $10 will still apply. Account snapshots and fee deductions will occur on the 25th of each month, commencing December 25, 2025.
Crucially, users who have completed KYC and submitted withdrawal requests before December 25, 2025, but whose withdrawals are still pending, will be exempt from this fee, ensuring fair treatment for those already engaged in the process of asset retrieval.
BitForex Restructures Operations to Meet Global Compliance Standards
As a component of its comprehensive recovery plan, BitForex has implemented several operational adjustments to enhance security and ensure full alignment with international standards. At this juncture, all trading functions, including buying and selling operations, remain suspended, and new user registrations and deposits are temporarily unavailable.
The exchange stated that these measures are integral to a broader restructuring process aimed at bolstering transparency and compliance. The majority of platform products are currently paused during this phase.
Withdrawals, conversely, remain fully operational and are restricted to verified personal or third-party wallets, reflecting BitForex's commitment to safeguarding user assets through explicit verification procedures. KYC verification is now a mandatory requirement for all withdrawal requests, underscoring its long-term dedication to transparency and regulatory cooperation.
BitForex further elaborated that these modifications signify the next phase in a gradual transition, intended to rebuild user confidence and harmonize all operations with global benchmarks for digital asset management and anti-money laundering compliance.
BitForex Reaffirms Asset Safety and Apologizes to Users
BitForex has extended an apology to its global user base for the disruptions experienced due to last year's incident and the subsequent service adjustments. The company acknowledged that many users have exhibited considerable patience throughout this period and emphasized that their continued trust is the primary motivator behind BitForex’s recovery efforts.
“We deeply regret the inconvenience caused and sincerely thank our community for its patience,” BitForex stated in an official release. “The exchange remains focused on completing pending withdrawals and ensuring a transparent, compliant future for all users.”
The exchange also advised users to remain vigilant against potential scams or impersonation attempts, noting that the official website (bitforex.com) and official support email (support@bitforex.com) are the sole legitimate communication channels.
PC version only: The mobile website and app are presently unavailable. Users are strongly advised to verify that they are accessing official BitForex domains to prevent falling victim to phishing or fraudulent websites.
BitForex indicated that the ongoing restructuring process represents a significant milestone in its recovery roadmap. The company intends to complete all outstanding withdrawals, finalize its compliance audit, and gradually reinstate platform services once all regulatory prerequisites have been satisfied.
BitForex will continue to provide updates as progress is achieved, ensuring users are kept informed at every stage of the process.
About BitForex
Established in 2018, BitForex is a worldwide cryptocurrency exchange that offers access to a diverse array of digital assets for traders and investors globally. The platform has served users in over 180 countries and maintains a strong focus on asset security, operational transparency, and international compliance. BitForex is continuously enhancing its infrastructure and governance framework to align with global standards for digital finance, reinforcing its mission to provide a secure and transparent trading environment for users and institutions worldwide.