Background Investigations
Background Investigations
Bitget Background Check: Licenses, Regulatory Warnings, and VOXEL Risk
Bitget is a major second-tier global crypto exchange founded in 2018. It operates normally, publishes Proof of Reserves, and reports large derivatives volumes, but its regulatory depth remains weaker than its business footprint. Multiple regulators have warned that Bitget or related entities were not registered for certain activities, and the April 2025 VOXEL incident exposed risk-control weaknesses. Overall risk score: 5/10.
Entity: Bitget
Bybit Background Check Report
Bybit is a major offshore crypto exchange founded in 2018, now headquartered in Dubai. It has meaningful scale, broad derivatives liquidity, and a VARA VASP license in Dubai, but its profile also includes regulatory exits and warnings, opaque ownership, a grey-zone policy for mainland Chinese users, a major FTX/Mirana settlement, and the largest crypto-exchange hack on record in February 2025. The overall risk score is 6/10.
Entity: Bybit
CoinW Background Check: A Large Exchange With Small-Exchange Governance
CoinW is still operating and reports large spot and derivatives volume, but the exchange faces serious governance, licensing, transparency, user-complaint, security, and regulatory risks. Key issues include Taiwan criminal indictments involving people described as CoinW regional executives, South Korean app-store restrictions, unclear or misleading license claims, and the absence of a full Merkle-tree proof-of-reserves framework.
Entity: CoinW
Websea Background Check: High-Risk Crypto Exchange With Frozen Nodes and Withdrawal Complaints
Websea, also known in Chinese-speaking communities as “浪所,” is a crypto exchange/project launched on August 28, 2023 and operated by Websea Global Holding Limited, a Singapore-registered company. Public information indicates serious risks, including opaque leadership, limited regulatory substance, repeated withdrawal complaints, frozen insurance nodes, suspended compensation, and concerns about fund consolidation. Based on the available information, Websea is assessed as an extreme-risk platform with a risk score of 9/10.
Entity: Websea