Is Bitget Safe? Founder and Team Background Revealed, Scam Risk Assessed!

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In the fast-evolving world of cryptocurrency, trust and security are paramount. With so many exchanges emerging—and some collapsing overnight—investors naturally ask: Is Bitget safe? This article dives deep into Bitget’s foundation, leadership, security measures, and growth strategy to help you assess its legitimacy and long-term potential.

Founded in 2018 and headquartered in Singapore, Bitget has rapidly climbed the ranks to become one of the world’s top cryptocurrency exchanges. It currently holds the 18th position on CoinMarketCap’s global exchange rankings, a significant jump from previous years. The platform serves over 8 million users globally, with 5.5 million daily active users and a staggering $5.1 billion in daily derivatives trading volume, placing it just behind industry giants like Binance, Bybit, and OKX.

But what truly sets Bitget apart isn’t just its numbers—it’s the vision and team behind it.

The Man Behind Bitget: Founder Henri Chen

While figures like Binance’s CZ dominate crypto headlines, Bitget’s founder, Henri Chen, maintains a notably low profile. Unlike many high-visibility founders, Henri rarely engages on social media or gives interviews. Yet his background speaks volumes.

A graduate of the University of Melbourne with a dual degree in Finance and Engineering, Henri built a strong foundation in traditional finance before entering the crypto space. He held key roles at major institutions including Royal Bank of Scotland (RBS), JPMorgan, and Bohai Capital, managing assets exceeding $2.6 billion.

His experience taught him one crucial lesson: a financial platform should be built by financial experts—not just engineers.

“Crypto is not a casino. Building an exchange with engineers alone is a disaster.”
— Henri Chen, in a 2018 interview

This philosophy became the cornerstone of Bitget’s development. Rather than assembling a tech-only team, Henri leveraged his network to recruit seasoned professionals from top-tier financial institutions. He also brought in elite engineers from Silicon Valley to ensure technical excellence—blending financial rigor with cutting-edge technology.

👉 Discover how top exchanges combine finance and tech for maximum security and performance.

Henri’s strategic approach paid off quickly. Within just five months of assembling his team, Bitget launched its public testnet on September 1, 2018.

The results were impressive:

Despite fierce competition from established players, Bitget carved out its niche early—thanks largely to Henri’s disciplined, finance-first mindset.

Leadership Evolution: Gracy Chen Joins as CEO

While Henri laid the foundation, Gracy Chen—appointed Managing Director in June 2022—played a pivotal role in scaling Bitget’s global presence.

Gracy holds an MBA from MIT Sloan School of Management and previously led operations at XRSPACE, a VR company based in Taipei. Her exposure to crypto began in 2013–2015 through personal connections, including Binance co-founder He Yi.

Unlike speculative traders, Gracy took a long-term approach:

This blend of traditional finance acumen and real-world blockchain expertise made her an ideal fit for Bitget.

Under her leadership, Bitget adopted bold marketing strategies that set it apart:

These moves targeted younger, globally connected audiences—particularly fans of sports and gaming—who are more open to digital assets.

But beyond branding, Gracy emphasized product innovation and regulatory compliance, steering Bitget toward sustainable growth even during market downturns.

How Bitget Survived the 2022 Crypto Winter

When the crypto market crashed in 2021–2022—triggered by the collapse of LUNA/UST and the dramatic fall of FTX—investor confidence plummeted. Yet Bitget not only survived; it grew.

Here’s how:

🔐 Dual-Layer Security & Investor Protection Fund

In 2022, Bitget launched a $200 million+ User Protection Fund—one of the largest in the industry.

Key features:

As of the latest update, the fund holds:

This fund acts as a safety net—if Bitget ever suffers a hack, user losses can be reimbursed immediately.

👉 See how leading exchanges protect your assets with transparent reserve systems.

📊 Proof of Reserves: Beyond 100%

Following FTX’s downfall, transparency became critical. Bitget responded by publishing regular Merkle Tree Proof-of-Reserves reports.

Currently, Bitget’s reserve ratio stands at 244%—meaning for every $100 deposited by users, the exchange holds $244 in reserves.

This over-collateralization ensures users can always withdraw their funds—a powerful signal of financial health and integrity.

You can verify these reports anytime at:
https://www.bitget.com/zh-TW/proof-of-reserves

Regulatory Compliance: A Global Approach

Security isn’t just about technology—it’s also about legal accountability.

Bitget has secured key financial licenses worldwide:

Moreover, Bitget is actively pursuing licensing in:

Gracy Chen confirmed on Twitter in February 2023 that Bitget is preparing for major announcements related to global expansion—indicating serious regulatory ambitions.

Building Trust Through Social Impact

To combat negative perceptions around crypto (e.g., scams, money laundering), Bitget has engaged in philanthropy.

In 2022, in partnership with Juventus FC, Bitget hosted a charity basketball event at Santa Monica’s Ocean View Park. Proceeds supported DIY Girls, a nonprofit empowering underrepresented girls in STEM fields.

Such initiatives reinforce Bitget’s mission: to make crypto accessible and socially responsible.

FAQ: Your Top Questions Answered

❓ Is Bitget regulated?

Yes. Bitget holds legal licenses in the U.S. (MSB), Canada (MSB), Australia (DCE), and operates under exemption rules in Singapore. It is also applying for licenses in Hong Kong and other jurisdictions.

❓ Has Bitget ever been hacked?

There have been no major reported security breaches at Bitget. The platform uses cold storage, multi-signature wallets, and maintains a $200M+ protection fund to safeguard user assets.

❓ Who owns Bitget?

Bitget was founded by Henri Chen in 2018. While he remains involved at the group level, day-to-day operations are led by Managing Director Gracy Chen.

❓ Can I trust Bitget with my money?

Bitget demonstrates strong security practices: over-collateralized reserves (244%), transparent proof-of-reserves, no use of customer funds for reserves, and a large protection fund. Combined with its regulatory footprint, this makes it a trustworthy option among top-tier exchanges.

❓ Why did Messi partner with Bitget?

High-profile partnerships like Messi’s are not easily obtained. They require thorough due diligence from both sides. Messi’s endorsement signals confidence in Bitget’s stability and long-term vision.

❓ What makes Bitget different from other exchanges?

Three key factors:

  1. Finance-led leadership: Built by financial experts, not coders alone.
  2. Social trading focus: Users can copy trades from experienced traders.
  3. Strong compliance: Active pursuit of global licenses enhances legitimacy.

Final Verdict: Is Bitget Safe?

Based on available evidence—its leadership background, financial transparency, regulatory compliance, and proactive risk management—Bitget appears to be a secure and credible cryptocurrency exchange.

Its rapid growth during a bear market underscores user trust. The combination of veteran financial leadership, robust security protocols, and strategic global expansion positions Bitget as more than just another speculative platform—it’s building toward institutional-grade credibility.

That said, no exchange is completely risk-free. Always practice personal security (use 2FA, avoid phishing sites) and never invest more than you can afford to lose.

For those seeking a well-regulated, innovative exchange with strong fundamentals, Bitget deserves serious consideration.

👉 Compare how top exchanges like OKX stack up in security, fees, and features today.

Disclaimer: This article is for informational purposes only and does not constitute financial advice or endorsement. Cryptocurrency investments carry high risk—conduct your own research before making any decisions.