Bitunix exchange profile

Profile of Bitunix: exchange information, markets and recorded details on GradeMarket.

Bitunix is a centralized cryptocurrency exchange (CEX) that was founded in November 2021 and officially launched in October 2022. The company is registered in Saint Vincent and the Grenadines, while maintaining operational offices in Dubai and several other countries. Bitunix primarily focuses on futures and derivatives trading with high leverage and has quickly established itself as a notable player in the global futures trading market.

Key Statistics

• Daily trading volume: Approximately $1–5 billion (depending on the source and reporting period)
• Claimed user base: More than 2–3 million users
• Trading pairs: Over 700–1,100
• Global ranking: Generally ranked between the 20th and 40th largest exchanges worldwide by trading volume

Exchange Type

Bitunix is a Centralized Exchange (CEX) offering:

• Spot trading
• Futures trading (with leverage ranging from 125x to 200x, depending on the asset)
• Copy Trading
• Earn (crypto savings) products

The CEO's Open Letter About a Real Cyberattack

Unlike many exchanges that tend to downplay or conceal technical incidents, Bitunix publicly acknowledged two genuine operational events in an official open letter published by its CEO through the exchange's support center.

The first was a DDoS/CC cyberattack, during which more than 100 Gbps of malicious traffic targeted the exchange's infrastructure. The second involved a chart display abnormality, which temporarily caused confusion among traders by displaying inaccurate market charts.

According to the CEO's statement, neither incident resulted in the loss of customer assets or trading positions, as user funds were held by a third-party institutional custody provider.

This public disclosure, together with Bitunix's participation in HackenProof's bug bounty program—which requires security vulnerabilities to be reported confidentially within 24 hours—presents a more realistic picture of the platform's security posture. Rather than claiming to be an exchange that has "never experienced any incidents," Bitunix acknowledges that it has faced genuine infrastructure challenges while successfully preventing any loss of customer funds.

Fees

• Spot Trading:Maker: 0.08%
• Taker: 0.10%
• Futures Trading:Maker: 0.02%
• Taker: 0.06%
• Crypto deposits: Free
• Fiat deposits: No additional fee
• Withdrawals: Fees vary depending on the cryptocurrency and blockchain network.

Security and Trust

To date, no major hack resulting in the theft of customer assets has been publicly reported.

Bitunix employs several security measures, including:

• Multi-signature wallets managed by Cobo, a digital asset custody provider
• A Merkle Tree-based Proof of Reserves, allowing users to independently verify that their assets are included in the exchange's reserves
• The Bitunix Care Fund, valued at approximately $30 million, designed to provide financial protection in the event of unexpected incidents
• Security audits and penetration testing conducted by Hacken

Bitunix also maintains a relatively strong security rating on CER.live, scoring approximately 78 out of 100.

KYC verification is optional. Depending on the source, unverified users can withdraw between $10,000 and $500,000 per day, while completing identity verification increases withdrawal limits.

Licenses and Regulation

According to information published in Bitunix's compliance documentation, the exchange holds:

• FinCEN MSB registration in the United States (since December 2022)
• FINTRAC MSB registration in Canada (since January 2024)
• A Virtual Asset Service Provider (VASP) license reportedly issued by the Central Bank of the Philippines in February 2024
• Registration with AUSTRAC in Australia (since January 2026)

It is important to understand that MSB registration in the United States and Canada is primarily an anti-money laundering (AML) compliance requirement, not a comprehensive financial services license or evidence of active prudential supervision by a financial regulator.

This distinction is reflected in Bitunix's own business practices: despite holding these registrations, the exchange does not offer high-leverage futures trading to users located in the United States or Canada.

Compared to MSB registration, the Philippine VASP license and AUSTRAC registration represent more specific regulatory frameworks, although they are still not equivalent to authorization from major regulators such as the UK Financial Conduct Authority (FCA) or under the European Union's MiCA framework.

Bitunix has also announced that it is applying for regulatory licenses in Lithuania (under the EU MiCA framework), Poland, and the United Kingdom. However, these applications had not been approved at the time of writing and should therefore be viewed as future plans rather than current regulatory status.

Deposits and Withdrawals

Bitunix primarily supports cryptocurrency deposits and withdrawals through major blockchain networks, including:

• ERC20
• TRC20
• BNB Smart Chain (BSC)
• Arbitrum
• Polygon
• Solana

Users may also purchase cryptocurrencies using bank cards or through the platform's P2P marketplace.

However, direct fiat bank deposits and withdrawals are not supported.

Popular Trading Pairs

• BTC/USDT
• ETH/USDT
• SOL/USDT
• XRP/USDT

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Pros and Cons

Pros

• No publicly reported customer asset theft since the exchange's launch
• Relatively strong security rating on CER.live
• Useful features including Copy Trading
• Persian-language support
• Trading without mandatory KYC

Cons

• History of at least one confirmed DDoS attack and one chart display incident, both publicly acknowledged by the CEO
• No licenses from top-tier regulators such as the FCA or major EU authorities
• Conflicting reports regarding KYC availability for Iranian users
• No direct bank deposit or withdrawal support
• Relatively high trading fees

Final Rating

6.2/10

Bitunix earns positive marks for its transparent Proof of Reserves, dedicated protection fund, and unusually transparent handling of technical incidents instead of denying them. However, the occurrence of genuine cyberattacks and operational disruptions, combined with the absence of top-tier regulatory licensing, prevents it from achieving a higher overall score.

Conclusion

Bitunix is a solid option for futures traders seeking high leverage, copy trading, advanced trading tools, and a reasonable level of technical security. However, users who prioritize comprehensive regulatory oversight or require complete certainty regarding the platform's policies toward Iranian users should evaluate the exchange with additional caution.