BKEX appears to have ceased operations in mid-2023, shut down due to illegal gambling and money laundering allegations, and is no longer currently operating as a cryptocurrency exchange.
its domain name is now a forum, unrelated to the original exchange, and the official website is closed and cannot be accessed by users.
research shows that BKEX faces legal challenges, including a January 2025 ruling by a Chinese court that found its contractual transactions to be illegal gambling.
🏛 Basic Facts
founded: 2018
Registration and Headquarters: Based in the British Virgin Islands (BVI)
Founder: Allegedly founded by Jingyan Ji (Lion Ji) and served as CEO
Platform positioning: Centralized crypto asset exchange, providing one-stop services such as spot and derivatives trading, leveraged tokens, staking, and mining
🚀 features and services
Currencies and trading pairs: The platform has supported more than 1,200 crypto assets, covering multiple stablecoin and fiat currency trading pairs, and more than 600 trading pairs bitdegree.org
spot trading: Maker-Taker model is available, and the handling fee is 0.15% (Maker) and 0.20% (Taker
). Derivatives & Leverage: Perpetual Contracts (up to 100× leverage) and Crazy Futures (up to 500×)
leveraged tokens: Launched investment tools with embedded leverage, simplifying capital operation
rewards and ecosystems: including mining pool mining, staking services (such as ETH2.0 staking), referral reward mechanism and BKK Platform Token Discount
API and Tool Support: Provide public API documentation to support strategy trading and data monitoring
🔐 security and governance
Asset security: Multi-signature cold wallets are used to store most assets; Users can withdraw 2 BTC per day without KYC (the extended limit needs to be certified)
Insurance and risk management: Have insurance funds and automatic deleveraging mechanism to reduce the risk
of defaultCompliance supervision:
has passed FinCEN registration, but the status has been "exceeded", that is, there is currently no valid regulatory
unlicensed regulatory entity, and user protection relies on the platform DAO mechanism and its set rules
⚠️ Risk events and disputes
Freezing of fund withdrawals: In May 2023, the platform froze withdrawals to cooperate with money laundering investigations, and claimed to cooperate with law enforcement agencies to protect the rights and interests
of usersChinese courts ruled: In January 2025, China's Hunan Provincial Court identified the relevant contract transactions as "illegal gambling" and sentenced and punished several employees
The platform disappeared: since 2023, the official website has been offline, social channels have stopped updating, and the operation of the platform has been basically suspended
👥 user feedback and reputation
Advantages: rich currency, comprehensive functions, initial security mechanism, competitive
feesDisadvantages:
- lack of
supervision, frozen withdrawals, opaque platform operation,
user comments refer to the platform "Scam", "Easy to deposit and difficult to withdraw"
🧠 Comprehensive analysis and recommendations
✅ Advantages:
Rich financial service system (including leverage, derivatives and mining)
emphasizes asset security and users' free withdrawal experience
Multi-asset support and full-chain trading capabilities
❌ Prominent deficiencies and warnings:
There is no effective supervision and substantive cashing platform mechanism
, and the suspected money laundering investigation and gambling ruling have caused serious damage to the credibility
of the platform, loss of contact with the platform's operation, and users are unable to obtain assets
