VASPCheck

VASP Compliance Summary — BingX

BingX Ltd · Exchange · Singapore

Exported 2026-08-25

Data reviewed 2026-08-06

Overview

Compliance snapshot

Overall regulatory statusNot licensed

EU MiCA statusNo EU authorization

No MiCA authorization or application published
Operations run from Singapore with offshore contracting entities
Trustpilot 3.0/5 · 2,140 reviews
September 2024 hot-wallet breach of roughly USD 52m

High concern

Derivatives and copy-trading venue with only light registrations, no EU authorization, and a material hot-wallet compromise in 2024.

Authorizations

Licenses & registrations

Jurisdiction	Regulator	Authorization	Status	Reference	Granted
United States	Financial Crimes Enforcement Network FinCEN · https://www.fincen.gov/msb-registrant-search	MSB registration	Registered	31000-2205-3318	2022-05-09
Seychelles	Financial Services Authority Seychelles FSCA · https://fsaseychelles.sc/regulated-entities	VASP registration	Registered	VASP-SC-2023-104	2023-08-30
Canada	Financial Transactions and Reports Analysis Centre of Canada FINTRAC · https://www10.fintrac-canafe.gc.ca/msb-esm/public/msb-search/search-by-name/	MSB registration	Registered	M23090121	2023-09-01

Reputation

Reputation scores

Trustpilot-style score3.0 / 5

Reviews2,140

App Store4.4

Google Play4.0

12-month trendflat

Press sentiment (12m)+3 / ~3 / −5

Media

Recent press

Date	Source	Headline & summary	Sentiment
2026-07-02	CoinDesk	BingX expands copy-trading to new markets The venue added regional leaderboards despite supervisory scrutiny of the format.	Neutral
2026-04-17	Reuters	Retail derivatives promotion draws EU warnings Several unlicensed venues, including BingX, were listed by national supervisors.	Negative
2026-01-09	Bloomberg	Exchange publishes reserve attestation A third-party attestation covered major assets for the first time.	Positive
2025-08-22	Financial Times	Post-incident controls reviewed Analysts assessed wallet-architecture changes made after the 2024 breach.	Neutral
2024-09-21	Reuters	BingX suffers wallet breach The exchange paused withdrawals after an estimated USD 52m was drained from hot wallets.	Negative

Risk events

Incidents & enforcement

Date	Type	Amount	Description
2024-09-20	Hack	USD 52,000,000	Hot-wallet compromise; withdrawals were suspended and the venue said losses were covered from its own funds.
2026-04-17	Enforcement	—	Public warnings by EU national supervisors about solicitation of retail clients without authorization.

Profile

Key facts

Founded2018

Websitebingx.com

Fiat currenciesUSD, EUR

Proof of reservesPartial

Custody modelOmnibus wallets with third-party attestation

Legal entitiesBingX Ltd (SG) · BX Global Ltd (SC)

BingX

Not licensedNo EU authorizationESMA register

BingX Ltd

Exchange🇸🇬 Singapore Founded 2018bingx.com

Visit website

Last reviewed

2026-08-06

Compliance snapshot

No MiCA authorization or application published
Operations run from Singapore with offshore contracting entities
Trustpilot 3.0/5 · 2,140 reviews
September 2024 hot-wallet breach of roughly USD 52m

Overall concern

High concern

Derivatives and copy-trading venue with only light registrations, no EU authorization, and a material hot-wallet compromise in 2024.

Regulatory

Licenses & registrations

Jurisdiction	Regulator	Authorization	Status	Reference	Granted
🇺🇸 United States	Financial Crimes Enforcement NetworkFinCEN	MSB registration	Registered	31000-2205-3318	2022-05-09
🇸🇨 Seychelles	Financial Services Authority SeychellesFSCA	VASP registration	Registered	VASP-SC-2023-104	2023-08-30
🇨🇦 Canada	Financial Transactions and Reports Analysis Centre of CanadaFINTRAC	MSB registration	Registered	M23090121	2023-09-01

🇺🇸 United States
Registered
MSB registration
Financial Crimes Enforcement NetworkFinCEN
31000-2205-33182022-05-09
Verify at source
🇸🇨 Seychelles
Registered
VASP registration
Financial Services Authority SeychellesFSCA
VASP-SC-2023-1042023-08-30
Verify at source
🇨🇦 Canada
Registered
MSB registration
Financial Transactions and Reports Analysis Centre of CanadaFINTRAC
M230901212023-09-01
Verify at source

User signals

Reputation

Trustpilot-style score

3.0/ 5

3.0

2,140 reviews

Stable (12m)

App ratings

App Store: 4.4
Google Play: 4.0

Press sentiment (12m)

Positive3

Neutral3

Negative5

Media

Recent press

2026-07-02
BingX expands copy-trading to new marketsNeutral
CoinDesk — The venue added regional leaderboards despite supervisory scrutiny of the format.
2026-04-17
Retail derivatives promotion draws EU warningsNegative
Reuters — Several unlicensed venues, including BingX, were listed by national supervisors.
2026-01-09
Exchange publishes reserve attestationPositive
Bloomberg — A third-party attestation covered major assets for the first time.
2025-08-22
Post-incident controls reviewedNeutral
Financial Times — Analysts assessed wallet-architecture changes made after the 2024 breach.
2024-09-21
BingX suffers wallet breachNegative
Reuters — The exchange paused withdrawals after an estimated USD 52m was drained from hot wallets.

History

Incidents & enforcement

2024-09-20HackUSD 52,000,000
Hot-wallet compromise; withdrawals were suspended and the venue said losses were covered from its own funds.
2026-04-17Enforcement
Public warnings by EU national supervisors about solicitation of retail clients without authorization.