Bitget announced plans to acquire Thai crypto exchange operator GMO-Z.com Cryptonomics through BTGT Management (Thailand), a company in which it says it holds an interest. GMO Internet disclosed the proposed sale in a Sept. 24 filing and targeted completion for Oct. 31. The deal remains subject to regulatory approval and other conditions. Bitget declined to disclose the size of its interest in BTGT Management or the deal’s financial and ownership terms.
GMO-Z.com Cryptonomics operates the licensed exchange Z.com EX. Bitget’s terms of use, updated Oct. 16, still list Thailand as a prohibited jurisdiction; the proposed acquisition could offer a route to serving Thai users through a locally licensed operator. The plan follows a Sept. 24 attack on Bitget’s hot and warm wallets that Bitget said affected about $388 million. Bitget said customer balances were unaffected and withdrawals were fully restored on Oct. 2.
