- ProBit Global, founded in 2018, served over 3 million users across 190+ countries and listed 800+ cryptocurrencies before announcing its closure.
- ProBit Global has lost access to key markets due to MiCA compliance requirements in the EU and regulatory notices from India’s Financial Intelligence Unit.
- Users who do not withdraw assets by the February 25, 2026 deadline may face permanent loss; a small recovery window extends to April 1 with administrative fees.
- Self-custody wallets provide protection against exchange closures; affected users should transfer holdings immediately.
- The shutdown adds to a pattern of mid-tier exchange closures driven by tightening global crypto regulations.
ProBit Global, a South Korea-founded cryptocurrency exchange that served users in more than 190 countries, announced on December 30, 2025 the complete termination of all exchange services. The decision affects every listed asset and all registered users globally.
According to the official announcement, spot trading will end on January 27, 2026 at 16:00 UTC-8. The standard withdrawal service will remain open until February 25, 2026 at 15:59 UTC-8. After this deadline, users face permanent loss of access to remaining funds.
The exchange cited a “rapidly evolving regulatory environment and strategic business restructuring” as reasons for the closure, according to a notice shared by GMCoin, one of the tokens listed on the platform since October 2021.
Timeline and Key Deadlines
ProBit Global has laid out a specific schedule for the wind-down process. Deposit services have already been disabled for major assets including BTC, SOL, and USDT as of early January 2026.
The timeline breaks down as follows:
- Trading services end January 27, 2026 at 16:00 UTC-8, at which point all open orders will be canceled automatically.
- Withdrawals remain available until February 25, 2026 at 15:59 UTC-8.
- An extended asset recovery period runs until April 1, 2026, but users who miss the standard withdrawal window will face administrative fees.
Assets not withdrawn by April 1, 2026 will be “deemed abandoned” per ProBit Global’s published policies.
Exchange Background
ProBit Global launched in 2018 in Seoul, South Korea, co-founded by CEO Hyunsu Do and CTO Steve Woo. The platform expanded from its Korean origins to operate globally, eventually splitting into ProBit Global for international users and ProBit Korea for domestic traders.
At its peak, the exchange served over 3 million users across 190+ countries and supported more than 800 cryptocurrencies in over 1,000 trading pairs. The platform hosted 200+ token sales through its IEO (Initial Exchange Offering) program, raising over $50 million for listed projects.
ProBit ranked among the top 100 exchanges by some metrics, though its position varied across tracking platforms. BitDegree’s exchange tracker placed it around rank 99, while the platform itself claimed top-20 status based on real traffic.
The exchange offered trading fees ranging from 0.03% to 0.2% depending on user tier and PROB token holdings. It maintained a tiered KYC system that allowed basic trading with only email verification, a feature that attracted privacy-focused users.
Regulatory Pressures Leading to Closure
The shutdown follows a pattern of regulatory challenges for ProBit Global throughout 2025.
In October 2025, India’s Financial Intelligence Unit (FIU-IND) issued notices to 25 offshore cryptocurrency exchanges, including ProBit Global, over violations of anti-money laundering compliance rules.
The EU’s Markets in Crypto-Assets (MiCA) regulation also forced ProBit to exit European markets. On December 17, 2025, the exchange announced termination of services for EU and EEA users effective December 30, 2025. Users in France, Germany, Italy, Spain, the Netherlands, Norway, and other member states lost platform access as of that date.
(Ed. note: MiCA compliance has become a major filter for crypto exchanges operating in Europe, with several platforms exiting the region rather than meeting the licensing requirements.)
The combination of Indian regulatory action and European compliance requirements appears to have made continued global operations unsustainable for the exchange.
What Affected Users Must Do
ProBit Global users need to act quickly. The exchange has outlined specific steps:
Cancel all open orders to release locked assets. Convert tokens that cannot be withdrawn directly into major currencies like USDT, BTC, or ETH before trading suspension on January 27. Transfer all assets to an external personal wallet or another compliant exchange immediately. Download transaction history for tax purposes before account closure.
Users who have not completed KYC requirements may face complications. According to GMCoin’s notice, asset recovery requires “KYC requirements completed, as confirmed directly by ProBit Global’s operations team.”
EU and EEA users face additional restrictions. Access from EU/EEA IP addresses has been blocked since December 30, 2025, and account logins remain disabled for affected jurisdictions.
Self-Custody as Protection
The ProBit shutdown reinforces the cryptocurrency principle of self-custody. When users hold assets on exchanges, they rely on that platform’s continued operation to access their funds.
Hardware wallets like those from Ledger and Trezor store private keys offline, giving users direct control regardless of exchange status. The collapse of FTX in 2022 and subsequent exchange failures have made self-custody a repeated recommendation from industry observers.
CNBC reported in 2022 that when exchanges go bankrupt, users often become unsecured creditors with limited recovery options. ProBit’s orderly wind-down with advance notice represents a better outcome than sudden failure, but the deadline pressure remains real.
Industry Context
ProBit Global’s closure adds to a broader trend of exchange consolidation under regulatory pressure. FortuneJack, another cryptocurrency platform, confirmed a complete shutdown in early January 2026, citing similar regulatory and market saturation factors.
Mid-tier exchanges without the resources to comply with multiple regional regulatory frameworks face difficult choices. MiCA in Europe, FIU requirements in India, and evolving rules in the United States create a complex compliance landscape.
Larger exchanges like Binance, Coinbase, and Kraken have invested heavily in compliance infrastructure. Smaller platforms often lack the legal and operational resources to navigate this environment.
For ProBit Global users, the immediate priority is asset withdrawal before the February 25 deadline. Beyond that date, recovery becomes uncertain and potentially costly.
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