> BKEX appears to have ceased operations in mid-2023, shutting down due to allegations of illegal gambling and money laundering, and currently no longer operates as a cryptocurrency exchange.
Its domain name is now a forum, unrelated to the original exchange, and the official website is closed and users cannot access it.
research suggests that BKEX has faced legal challenges, including a January 2025 judgment by a Chinese court that found its contract transactions to be illegal gambling.
🏛 Basic Overview
Registration and Headquarters: Based in the British Virgin Islands (BVI)
Founder: Claimed to have been founded by Jingyan Ji (Lion Ji) and serves as CEO
Platform positioning: A centralized crypto asset exchange that provides one-stop services such as spot and derivatives trading, leveraged tokens, staking, and mining
> Founded: 2018
🚀 Features & Services
Coins and Trading Pairs: The platform has supported over 1,200 cryptocurrency assets, covering multiple stablecoin and fiat trading pairs, with over 600 bitdegree.org
Spot Trading: Offers a maker-taker model with fees of 0.15% (Maker) and 0.20% (Taker).
Derivatives and Leverage: Offers perpetual contracts (up to 100× leverage) and Crazy Futures (up to 500×)
Leveraged Tokens: Launched investment tools with embedded leverage to simplify fund operations
Rewards and ecosystem: including mining pool mining, staking services (such as ETH2.0 staking), referral reward mechanisms, and BKK Platform Currency Discount
API and Tool Support: Provides public API documentation to support strategic trading and data monitoring
🔐 Security & Governance
Asset security: Use multi-signature cold wallets to store most assets; Users can withdraw 2 BTC daily without KYC (extended limit requires verification)
Insurance and risk management: Owned insurance funds and automatic deleveraging mechanism to reduce default risk
Compliance Regulation:
It has been registered through FinCEN, but this status has been "exceeded", that is, there is currently no valid supervision
and no licensed regulatory entity, and user protection relies on the platform's DAO mechanism and its setting
rules
⚠️ Risk Events & Disputes
Fund withdrawal freeze incident: In May 2023, the platform froze withdrawals to cooperate with money laundering investigations, claiming to cooperate with law enforcement agencies to protect users' rights and interests
, the Chinese court ruled: In January 2025, China's Hunan Provincial Court identified the relevant contract transactions as "illegal gambling" and sentenced and punished a number of employees
The platform disappeared: since 2023, the official website has been taken offline, social channels have stopped updating, and platform operations have been basically interrupted
👥 User feedback and reputation
Advantages: rich currencies, comprehensive functions, initial security mechanisms, competitive handling fees
Disadvantages:
Lack of supervision, freezing withdrawals, and opaque platform operations
User comments say the platform is a "scam" and "easy to deposit and difficult to withdraw"
🧠 Comprehensive analysis and recommendations
✅ Advantages:
Multi-asset support and a financial service system with rich functions for full-chain trading
(including leverage, derivatives, and mining).
Emphasis on asset security and user free withdrawal experience
❌ Outstanding shortcomings and warnings:
, suspected money laundering investigations and gambling rulings, causing heavy damage to credibility
, loss of platform operation, and inability to obtain assets
>No effective supervision and substantive cashing platform mechanism
