Dear Valued Customer,
This is Digital Asset Investment Platform HEYBIT.
We sincerely thank all customers for your trust and support throughout our journey.
We have continuously endeavored to provide services that enable the safe and responsible management of digital assets.
However, due to changes in the business and regulatory environment, we have reached the conclusion that it is no longer feasible to continue providing our services.
Accordingly, we hereby inform you that all HEYBIT GLOBAL services, including the Beta product and the Earn deposit product, will be discontinued.
Background of HEYBIT GLOBAL Operations and the Decision to Terminate Services
1. Service Provision and Regulatory Compliance Efforts
At the time of its launch, HEYBIT GLOBAL lawfully provided global services in compliance with the applicable laws and regulatory frameworks of its governing jurisdiction.
Subsequently, during the course of operations, a Virtual Asset Service Provider (VASP) regulatory regime was newly introduced in the governing jurisdiction. In response, the Company continuously pursued VASP licensing in accordance with the procedures required under the relevant laws and regulations.
In addition, to strengthen customer asset protection and ensure a secure transaction environment, HEYBIT GLOBAL successfully completed, in February 2024, the onboarding process for the account ownership verification service provided by VerifyVASP (VV), a Travel Rule solution provider.
The Company has consistently made efforts to comply with regulatory requirements and enhance service stability.
- Related Notice > [HEYBIT] Completion of Travel Rule Subscription(VerifyNAME) and Linked Exchange Information
2. Licensing Progress and Practical Limitations
As a result of fulfilling the step-by-step requirements set forth by the financial authorities, the Company advanced through the licensing process and ultimately reached the stage of license acquisition. The regulatory authority granted approval in principle and notified the Company of the final conditions for fulfillment.
At this stage, however, an additional capital requirement was imposed.
As this capital requirement had not been previously disclosed during the licensing process, the Company was unable to prepare for it in advance. After comprehensively considering its current financial condition and business circumstances, the Company concluded that meeting this requirement was not practically feasible.
3. Rationale for the Service Termination Decision
To date, while the Company has been in the process of obtaining VASP approval, the application of certain regulatory obligations had been temporarily deferred. However, should HEYBIT GLOBAL continue its services without obtaining VASP approval, its global operations would be exposed to potential non-compliance with the governing jurisdiction’s laws and regulations.
Such regulatory uncertainty could adversely affect service continuity and may result in unexpected restrictions on customers’ asset management and withdrawal processes in the future.
In light of these considerations, the Company determined that, rather than maintaining services under regulatory uncertainty, terminating the services under clear and transparent conditions and safely returning customer assets constitutes a more responsible decision from the perspective of customer protection and the safeguarding of customer rights.
Accordingly, the Company has made the unavoidable decision to terminate all HEYBIT GLOBAL services.
[HEYBIT GLOBAL Service Termination Schedule]
Service Termination: January 30, 2026 (Fri.) at 17:00 (SGT)
Earn Reward Distribution End: December 29, 2025 (Mon.) at 11:00 (SGT)
Earn Product Full Termination:
January 23, 2026 (Fri.) at 14:00 (SGT), followed by transfer to wallet
Beta Product Full Termination:
Gradual termination by January 23, 2026 (Fri.) at 17:00 (SGT), followed by transfer to wallet
Important Notes
Customers must manually terminate active products and submit withdrawal requests prior to the service termination.
For the Earn product, no additional rewards will be distributed after the final reward payment on December 29, 2025 (Mon.).
Any products that are not terminated by Thursday, January 22, 2026, will be collectively terminated on the following day, January 23 (Fri.), and automatically transferred to your wallet.
For Beta products, profits or losses may continue to occur depending on market conditions until termination.
After termination, assets will be transferred to the wallet, and withdrawal requests will be processed sequentially during operating hours.
To submit a withdrawal request, Account Verification completion and 2FA authentication are required.
Withdrawals may be restricted for customers who hold citizenship in countries subject to transaction restrictions.
If you attempt to withdraw directly to a domestic exchange in your country, the transaction may be restricted by that exchange’s Travel Rule regulations, even after HEYBIT has successfully processed the transfer. We strongly recommend that you first withdraw to a global exchange that freely accepts transfers from HEYBIT (such as Binance or OKX), and then transfer the assets to your domestic account under the same name. Please note that HEYBIT GLOBAL only processes withdrawals as requested and shall not be held responsible for any issues arising from restrictions on the receiving wallet.
[Frequently Asked Questions]
Q. How can I terminate my product and withdraw my assets?
A. Withdrawals must be made to overseas exchanges such as Binance or OKX. Please refer to the guides below and follow the steps in order. Withdrawals to Korean exchanges may be restricted and could require additional documentation. HEYBIT GLOBAL shall not be responsible for any losses, including fees, incurred during this process.
Q. What happens if I do not terminate the product by the service termination date?
A. Your assets will be collectively terminated on January 23, 2026 (Fri.) and stored in your wallet, after which you may submit a withdrawal request.
Q. I want to relink my 2FA (Google Authenticator) to request a withdrawal!
A. If you need to unlink your 2FA linked to Heybit due to reasons such as changing your phone, deleting the app, or losing your recovery key, please send us an email!
Please send an email to verify@heybit.com with the following information attached.
Sender: Your email address registered with HEYBIT
Email Text: "I authorize HEYBIT to unregister the OTP of (your name)."
Reason for Unregistration: (e.g., I lost my phone, I lost my Google Authenticator backup code, I accidentally deleted the app, etc.)
Attachments: A photo of yourself holding your passport open to the personal information page, a handwritten note with the current date, the service name "HEYBIT," and your registered email address with HEYBIT. The date on the note must be the same as the date the request is submitted.
The note and the information on the passport's personal information page must be clearly visible.
Your entire face and personal information on the ID must be clearly visible.
The ID must be held close enough to be easily readable.
HEYBIT GLOBAL will continue to make every effort until the final termination date to safely protect customer assets and ensure that all withdrawal procedures are completed smoothly.
Once again, we sincerely thank all customers for your trust and support.
Sincerely,
HEYBIT GLOBAL
For further assistance or inquiries, 💡 Contact Our Support Team >
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