Crypto Guides, Knowledge & Insights

BitMart Shutdown Sparks Withdrawal Concerns: $3.7 Million in User Assets Reportedly Affected — WikiBit Launches CEX Risk Exposure & Complaint Channel

After BitMart announced its orderly shutdown on July 26, an increasing number of users have reported issues in recent days, including withdrawal difficulties, delayed withdrawals, abnormal account balances, and unresponsive customer support.　　On July 30, affected BitMart users with significant asset exposure established a joint communication group and completed an initial registration process. According to the preliminary records, 27 users reported being unable to withdraw their funds normally, with total affected assets reaching approximately 3,704,214 USDT.　　The largest reported individual asset amount reached 700,000 USDT, while several other users reported account balances ranging from 100,000 USDT to 600,000 USDT.　　Screenshots from the original accounts of just seven users showed a combined balance of 1,692,203.67 USDT.　　Screenshot of BitMart Users Unable to Withdraw Funds (Source: @MINGLIbtc)　　Centralized exchanges (CEXs) play a critical role in custodying user assets, facilitating trades, and providing withdrawal services. However, over the past few years, the crypto industry has witnessed multiple exchange risk events. From the collapse of major exchanges to withdrawal difficulties faced by smaller platforms, ordinary users are often the ones who suffer the greatest impact in the end.　　When such incidents continue to occur, how can users better protect their asset rights and interests？BitMart Shutdown: $3.7 Million in User Assets

08-25Deep Dive

WikiBit Exchange Exit Risk Ranking #7: UPbit — Kimchi Premium Is Gone, Trading Volume Has Collapsed, Regulators Are Watching Closely. Has UPbit’s Golden Era Come to an End?

Introduction: The “Kingpin” of South Koreas Crypto Market　　In previous episodes, we investigated:HashKey — the “compliance top student”;HTX — the “sanctions disaster zone”;UZX — the “DAO penny stock”;Phemex — the “Wall Street elite team”;Tapbit — the “MSB license sticker king”.　　Todays subject is a true heavyweight player:　　UPbit.　　Among global crypto exchanges, UPbit is a unique existence.　　It is not a global nomadic giant like Binance, nor is it a U.S.-listed company built around regulatory compliance like Coinbase.　　UPbit is more like a regional crypto kingdom in South Korea.　　Inside South Korea, it dominates the market with more than 70% market share, becoming the “crypto bank” and “faith platform” for Korean retail investors.　　But on the global stage, UPbits influence is far smaller than its actual trading volume would suggest.　　From 2025 to 2026, UPbit experienced what can only be described as a roller-coaster year:In February 2025, South Koreas Financial Intelligence Unit (FIU) imposed a three-month business suspension on UPbit;In May 2025, its CEO, who had led the company for eight years, suddenly resigned;In the same month, South Korean internet giant Naver announced a $10.3 billion stock-swap acquisition of UPbits parent company, Dunamu;In April 2026, a court overturned FIUs suspension order;In 2026, Navers acquisition deal was delayed twice and

08-25Deep Dive

Beginner’s Ultimate Guide to Crypto: From Understanding the Crypto World from Zero to Learning Safe Trading

Note:　　This guide is designed to help beginners build a complete understanding of the crypto industry and learn how to get started safely. It does not recommend any specific investment assets. Instead, it focuses only on frameworks, knowledge, and methods.　　For beginners, the most important thing when entering the crypto world is not making money immediately, but building a complete understanding first:　　Understand the ecosystem → Learn the tools → Understand the risks → Practice with small amounts → Build your own trading system　　This is the latest 2026 beginners guide to crypto. It breaks down the core ecosystem of the crypto industry, the roles of different participants, the full range of exchange products, trading strategies, and essential tools from the ground up.　　The goal is to help beginners develop a complete crypto mindset, trade rationally, avoid risks, and enter the industry step by step.Introduction: Starting with Bitcoin — Why Does Crypto Exist？　　Why does Bitcoin exist？ And why is it being accepted by more and more people around the world？　　The main reason is that Bitcoin solves a fundamental problem:　　True ownership of personal assets.　　Almost all other features of Bitcoin are built on this foundation.　　Let me ask you an important question that many people overlook in daily

08-24Deep Dive

WikiBit Exchange Exit Risk Ranking Episode 5: Tapbit — A “One MSB Sticker Fits All” Exchange, the Borderless Casino on France’s AMF Blacklist

Introduction: A “Schrödinger‘s Compliance” Exchange　　In the first four episodes, we investigated HashKey (the compliance top student), HTX (a sanctions hotspot), UZX (a DAO penny-stock style project), and Phemex (a team built by former Morgan Stanley elites). Today’s subject is even more controversial — Tapbit.　　Its official website describes itself as a “borderless crypto platform,” with a slogan that sounds ambitious. But on the other side, Frances financial regulator AMF has placed Tapbit on its blacklist, while WikiBit rates it 4.98/10, categorizing it as a “high-risk concern.”　　An exchange that claims trading volumes comparable to major platforms, yet receives only a 4.98 risk score from a compliance evaluation platform？ The contrast is more extreme than any exchange we have analyzed before.　　Today, well dig into Tapbit layer by layer.1. Regulatory Compliance: One MSB “Sticker” to Rule Them All　　Tapbit Risk Information (Source: WikiBit)　　The “Licenses” Bragged About by the Official Website: Three Badges, All Stickers　　Tapbits official website lists three credentials:　　U.S. MSB license for fiat-related services　　U.S. NFA comprehensive financial license　　SVG FSA license for cryptocurrency and forex services　　Sounds comprehensive？ Lets break them down one by one:　　U.S. MSB registration:Being registered as an MSB with FinCEN has a very low threshold. It does not require a review of the business

08-24Deep Dive

New Market Order: Who Will Capture the Next Wave of Global Capital? ——WikiBit X Space AMA Highlights

1. Article Background　　Global Finance Is Entering a New Era of Restructuring: Who Will Control the Next Gateway to Capital Flows？　　For decades, the global financial system has been dominated by traditional financial institutions. Banks, stock exchanges, asset management firms, and regulatory frameworks have collectively formed the core network that facilitates global capital flows.　　However, with the rapid development of emerging technologies such as blockchain, stablecoins, Real-World Asset tokenization (RWA), and artificial intelligence (AI), the boundaries between traditional finance and digital finance are undergoing significant changes.　　Once viewed as two parallel worlds, Crypto (crypto finance) and TradFi (traditional finance) are gradually shifting from competition toward integration.　　On one hand, traditional financial institutions are actively exploring blockchain infrastructure:Real-world assets such as U.S. Treasuries and funds are beginning to be issued on-chain;Stablecoins are becoming increasingly important tools for global payments and settlements;Financial institutions are recognizing the efficiency improvements brought by digital assets.　　On the other hand, the crypto industry is also evolving from its early asset trading model toward a more mature financial infrastructure ecosystem:DeFi is exploring new models for financial services;RWA is connecting on-chain assets with the real-world economy;AI is transforming financial decision-making, trading, and asset management processes.　　At the same time, the global economic environment is undergoing

08-21Deep Dive

WikiBit Exchange Exit Risk Ranking Vol.4 — Phemex: The “Top Student Exchange” Founded by Morgan Stanley Elites, Why Is It Facing Global Crackdowns?

Introduction: The “Problem Student” Under the Halo of Elite Credentials　　In previous episodes, we exposed HashKey (the compliance model student), HTX (the sanctions-hit exchange), and UZX (the DAO penny-stock exchange).　　Todays subject is an interesting one — Phemex.　　Its résumé looks extremely impressive:“Founded by eight former core developers from Morgan Stanley”“Trading engine capable of processing 300,000 transactions per second”“Serving more than 10 million users worldwide”　　Sounds like the perfect Wall Street success story — a group of financial elites leaving traditional finance to build a crypto empire.　　But on the other hand:Trustpilot rating: 2.3/560% of users gave it 1 starPermanently banned in CanadaWarned by both the UK FCA and Austrias FMARemoved from South Koreas Google Play StoreHacked for $69 million in January 2025　　How did a “top student” end up becoming a “globally blacklisted exchange”？　　Today, we will peel back the layers one by one.1. Regulatory Compliance: A Collector of Global “Crackdown Orders”　　From Canada to the UK, from Austria to South Korea, from India to the European Union — Phemex is facing regulatory pressure from multiple jurisdictions worldwide.　　This is not an isolated issue in one country.　　It represents a broader global regulatory crisis.　　Canada: Permanently Banned and Fined Over $500,000　　This is Phemexs most serious regulatory blow.　　In June 2025, Ontarios

08-21Deep Dive

WikiBit Exchange Exit Risk Ranking Vol.3: The “Penny Stock Exchange” Wrapped in a DAO Disguise — Why Is UZX Being Called a “Pig Butchering Scam” by Users?

Introduction:　　In the first two episodes, we exposed HashKey (the “compliance model student”) and HTX (a platform caught in a regulatory storm). This time, we are looking at an exchange with an even more bizarre storyline — UZX.　　The exchange comes with some extremely flashy labels: “the worlds first DAO-governed exchange,” “managed by a Cayman Islands foundation,” and “affiliated with a Nasdaq-listed company.” Sounds decentralized, sophisticated, and high-end, right？　　But on the other side of the story: a 2.3 rating on Trustpilot, waves of withdrawal complaints, and a parent company whose stock price has collapsed into penny-stock territory.　　How did a “newcomer” exchange founded only in 2023 manage to package itself as a “Nasdaq concept stock”？ Today, we peel away the DAO disguise layer by layer.1. Regulatory Compliance: All Talk About Licenses, But Mostly Just “Stickers”　　The so-called licenses: two MSB registrations, and thats it　　UZX claims on its official website that it has obtained a U.S. MSB (Money Services Business) license and a Canadian MSB registration.　　Sounds impressive？ Not really.　　In the United States, an MSB registration is simply a filing with FinCEN (Financial Crimes Enforcement Network). The threshold is extremely low — it does not require an assessment of the business model, does not verify solvency,

08-20Deep Dive

WikiBit Exchange Exit Risk Ranking Issue #2: Justin Sun’s HTX — Sanctioned by the UK, Blacklisted by Binance, and Slammed by Users with a 1.3 Rating

Introduction:　　In the previous episode, we examined HashKey — the “compliance top student” of the crypto industry and its hidden problems.　　This time, we are looking at a completely different type of exchange:　　HTX.　　If HashKey is a financial elite wearing a suit, then HTX is the crypto industrys “old-school veteran” wearing a colorful shirt and a thick gold chain.　　Its predecessor, Huobi, was founded in 2013 and became one of Chinas earliest cryptocurrency exchanges. It survived the 9/4 crackdown, the 3/12 market crash, the FTX collapse, and countless other storms in crypto history.　　It has experienced almost every major crisis in the industry and still survived. (HTX)　　After being acquired by Justin Sun in 2022, the platform was renamed HTX, opening a new chapter in the “Justin Sun ecosystem.”　　But here comes the question:　　How can an exchange that has been sanctioned by the UK, received only a 1.3 rating on Trustpilot, and is constantly criticized by users for “being unable to withdraw funds” continue operating successfully？　　Today, we will take it apart layer by layer.1. Regulatory Compliance: What Kind of Exchange Is One That Has Been “Blacklisted” by the UK？　　HTXs official website lists a long series of licenses and registrations.　　However, the overall picture is:　　Many licenses, but questionable regulatory

08-19Deep Dive

WikiBit Exchange Exit Risk Ranking Issue #1: The Most Hardcore HashKey Review on the Internet — It Doesn’t Look Like It Will Run Away, But It Can Definitely Make You Run Away in Frustration

Introduction:　　In 2026, Bitcoin suffered a massive downturn, and the crypto market continued to cool. A large number of crypto projects shut down or disappeared. As the core infrastructure of the crypto industry, exchange failures and shutdowns have attracted particular attention — and they have the biggest impact on investors.　　Just imagine: you are actively trading, chasing pumps and cutting losses, navigating the market with confidence. Then suddenly, overnight, your positions are liquidated, your assets are locked, withdrawals are suspended, and if you want to seek compensation, you may have to fight a years-long legal battle — or even discover there is no effective way to defend your rights at all.　　Against this backdrop, the WikiBit Exchange Exit Risk Ranking is here.　　Each episode will analyze a well-known exchange from multiple dimensions, including:Regulatory compliance and sanctions exposureAccount freezes and withdrawal issuesReserve transparencyAsset strengthInternal operations and management teamProduct experience and trading liquidityReal community feedback　　We will provide a clear risk rating and practical recommendations for both existing and potential users.　　Today, we begin with the first exchange — HashKey Global.　　Why choose it as the first subject？　　The reason is simple: HashKey carries a surprisingly contradictory set of labels:　　“Hong Kong licensed,”　　“Bermuda regulated,”　　“Publicly listed company,”　　“Backed by JPMorgan…”　　Sounds like maximum security,

08-18Deep Dive

Stop Dreaming About Bottom Fishing — The “Altcoin Season” Is Over, 99% of Altcoins Will Go to Zero!

Against the backdrop of the S before the withered tree, countless new trees bloom.”　　99% of altcoins will die.　　But the surviving 1% may change the world.　　And they may also create life-changing returns for those who find them.　　

08-18Deep Dive

...

742