On 5 November 2026 the Thai Securities and Exchange Commission (SEC) filed a criminal complaint with the Economic Crime Suppression Division against BG Limited, the company behind bitget.com, for running a digital asset exchange without a Thai licence. The same day it sent Bitget's website, its other domains and its app to the Ministry of Digital Economy and Society, to block access from Thailand from 5 December. The SEC's notice asks Bitget users to act on the assets they have on the platform before that date. A complaint opens a police inquiry; a prosecutor and then a court decide the case.
The SEC says that from 2022 to 2025 Bitget ran a trading system and charged fees, with a Thai-language website showing values in baht, and promoted itself in Thai through accounts named "Bitget Thailand" on X, "BGB Thai Holder" on Telegram and "bitgetthailand" on TikTok. The complaint also names one person as a supporter, for promoting Bitget on a Facebook page and a YouTube channel; Cointelegraph reports the SEC named the same person in March 2025 over promoting OKX. Bitget has been on the SEC's Investor Alert list of unlicensed operators since 8 May 2023. Bitget had not answered Cointelegraph's request for comment on 5 November.
Sixteen days before the complaint, on 20 October, Bitget announced a plan to buy GMO-Z.com Cryptonomics (Thailand), a Bangkok exchange and broker licensed since July 2020. The buyer is BTGT Management (Thailand) Ltd., set up on 22 September 2026 with share capital of 2 million baht, according to the seller, Japan's GMO Internet. GMO's filing gave 31 October as the expected date of transfer and says BTGT's major shareholders will follow the Thai SEC's rule on approving major shareholders. Bitget's release says it brings its platform to Thai users only after the deal closes and the change of control is approved. The exchange lost 87.6 million baht in 2025 on sales of 11.0 million. On 24 September, the day GMO's board approved the sale, thieves took about $388 million from Bitget's hot and warm wallets (the wallets an exchange pays daily withdrawals from) without needing its private keys, Unchained reports; withdrawals reopened in phases from 28 September.
Bitget is the sixth block date on Offrampt's list since the law changed. The Royal Decree on technology crime (No. 2), in force since 13 April 2025, lets the ministry block unlicensed digital asset trading platforms; the SEC sends it the names. The dates: 28 June 2025 for Bybit, OKX, CoinEx, XT.COM and 1000X; 22 March 2026 for Bitazza Global; 2 May for Exmix; 1 October for the Holdstation and UNO apps; 7 November for Vcex.io, whose owner As Sure Technology and four people the SEC filed against on 7 October; and 5 December for Bitget. Each block date sits 30 or 31 days after the SEC's complaint or referral. Binance.com, Pionex and MEXC are on the Investor Alert list without a block date; in its 30 October statement on the Binance theft the SEC called binance.com the overseas Binance platform, not under its supervision.
Speed: weeks
Step by step, in weeks, and the steps are closer together: one block date in 2025 (28 June, five platforms), five in 2026, and the last three sit 37 and 28 days apart. Each runs on the same clock: a complaint, then 30 or 31 days to the block. The complaints cite the same things each time, a Thai-language site, prices in baht, Thai promoters; the guess is that the next names come from the Investor Alert list, where MEXC (listed 29 April 2026) and Pionex (17 May 2022) sit without a block date. Binance.com is on that list too, with Binance TH as its licensed door. Bitget's purchase of GMO-Z.com Cryptonomics is the same kind of door, and its approval rests with the regulator that filed the complaint, so the guess is months, not weeks. Both foreign platforms lost money to thieves in the last two months, Bitget about $388 million on 24 September and Binance $6.3 billion on 29 October. The blocks push holders in Thailand toward the licensed exchanges: fewer places, more coins in each.