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VASP Compliance Summary — BitMart

BitMart (GBM Global Ltd) · Exchange · Cayman Islands

Exported 2026-08-25
Data reviewed 2026-08-02

Overview

Compliance snapshot

Overall regulatory statusRegistered
EU MiCA statusNo EU authorization
  • US FinCEN MSB registration; no EU or UK authorization
  • Cayman-domiciled parent with limited public disclosure
  • Trustpilot 2.5/5 · 1,470 reviews
  • December 2021 hot-wallet theft of roughly USD 196m

High concern

Only a US MSB registration underpins the venue, and the December 2021 hot-wallet theft of roughly USD 196m remains the defining event in its record.

Authorizations

Licenses & registrations

JurisdictionRegulatorAuthorizationStatusReferenceGranted
United StatesFinancial Crimes Enforcement Network
FinCEN · https://www.fincen.gov/msb-registrant-search
MSB registrationRegistered31000-1809-44772018-09-13
Cayman IslandsCayman Islands Monetary Authority
CIMA · https://www.cima.ky/search-entities-cima
Company registration (no financial services licence)Not licensedKY-3419082017-08-02

Reputation

Reputation scores

Trustpilot-style score2.5 / 5
Reviews1,470
App Store3.7
Google Play3.3
12-month trenddown
Press sentiment (12m)+2 / ~3 / −6

Media

Recent press

DateSourceHeadline & summarySentiment
2026-06-13CoinDeskBitMart expands token listings
Listing volume increased despite continued scrutiny of screening standards.
Neutral
2026-03-27ReutersLegacy incidents still shape counterparty views
Banks cited the 2021 breach when assessing exposure to the venue.
Negative
2025-12-08BloombergExchange adds withdrawal whitelisting
Security controls were extended for retail accounts.
Positive
2025-09-02Financial TimesCayman venues face disclosure pressure
Operators were urged to publish entity and reserve information.
Negative
2025-04-14CoinDeskReserve attestation covers major assets
A partial attestation was published for the first time since 2022.
Neutral

Risk events

Incidents & enforcement

DateTypeAmountDescription
2021-12-04HackUSD 196,000,000Hot-wallet compromise across Ethereum and BNB Chain wallets; the operator said it reimbursed affected users from its own funds.
2023-05-19Outage—Withdrawals paused for around eight hours during a wallet-infrastructure upgrade.

Profile

Key facts

Founded2017
Websitebitmart.com
Fiat currenciesUSD, EUR
Proof of reservesPartial
Custody modelOmnibus hot/cold wallets with partial attestation
Legal entitiesGBM Global Ltd (KY) · BitMart US LLC (US)
DirectoryBitMart
BitMart logo

BitMart

RegisteredNo EU authorizationESMA register

BitMart (GBM Global Ltd)

Exchange🇰🇾 Cayman Islands Founded 2017bitmart.com
Visit website
Last reviewed
2026-08-02
OverviewLicensesReputationPressIncidents

Compliance snapshot

  • US FinCEN MSB registration; no EU or UK authorization
  • Cayman-domiciled parent with limited public disclosure
  • Trustpilot 2.5/5 · 1,470 reviews
  • December 2021 hot-wallet theft of roughly USD 196m
Overall concern
High concern

Only a US MSB registration underpins the venue, and the December 2021 hot-wallet theft of roughly USD 196m remains the defining event in its record.

Regulatory

Licenses & registrations

JurisdictionRegulatorAuthorizationStatusReferenceGranted
🇺🇸 United StatesFinancial Crimes Enforcement NetworkFinCENMSB registrationRegistered31000-1809-44772018-09-13
🇰🇾 Cayman IslandsCayman Islands Monetary AuthorityCIMACompany registration (no financial services licence)Not licensedKY-3419082017-08-02
  • 🇺🇸 United States
    Registered
    MSB registration
    Financial Crimes Enforcement NetworkFinCEN
    31000-1809-44772018-09-13
    Verify at source
  • 🇰🇾 Cayman Islands
    Not licensed
    Company registration (no financial services licence)
    Cayman Islands Monetary AuthorityCIMA
    KY-3419082017-08-02
    Verify at source
User signals

Reputation

Trustpilot-style score
2.5/ 5
2.5
1,470 reviews
Declining (12m)
App ratings
App Store
3.7
Google Play
3.3
Press sentiment (12m)
Positive2
Neutral3
Negative6
Media

Recent press

  • 2026-06-13
    BitMart expands token listingsNeutral

    CoinDesk — Listing volume increased despite continued scrutiny of screening standards.

  • 2026-03-27
    Legacy incidents still shape counterparty viewsNegative

    Reuters — Banks cited the 2021 breach when assessing exposure to the venue.

  • 2025-12-08
    Exchange adds withdrawal whitelistingPositive

    Bloomberg — Security controls were extended for retail accounts.

  • 2025-09-02
    Cayman venues face disclosure pressureNegative

    Financial Times — Operators were urged to publish entity and reserve information.

  • 2025-04-14
    Reserve attestation covers major assetsNeutral

    CoinDesk — A partial attestation was published for the first time since 2022.

History

Incidents & enforcement

  1. 2021-12-04HackUSD 196,000,000

    Hot-wallet compromise across Ethereum and BNB Chain wallets; the operator said it reimbursed affected users from its own funds.

  2. 2023-05-19Outage

    Withdrawals paused for around eight hours during a wallet-infrastructure upgrade.

Entity

Key facts

CMC rank
#38
Fiat currencies
USD, EUR
Proof of reserves
Partial
Custody model
Omnibus hot/cold wallets with partial attestation
Legal entities
  • GBM Global Ltd (KY)
  • BitMart US LLC (US)
Compare

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VASPCheck

Licence records, regulator references, enforcement and press for virtual asset service providers.

Dataset updated 2026-08-14

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Contact

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  • data@vaspcheck.example

Prototype — sample data for demonstration only. Always verify against official registers. VASPCheck is an informational tool, not legal or regulatory advice. Company names and logos are used for identification purposes only.

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