Bitazza review.

Overview

Bitazza sells one brand and runs at least six companies. The Thai one is real: บริษัท บิทาซซ่า จำกัด / BITAZZA COMPANY LIMITED, juristic ID 0115561017992, holds SEC Thailand digital asset licences 210180030005 and 210280030002, both dated 12 July 2019. We confirmed them twice on the regulator’s own register on 12 August 2026, by domain rather than by name: the company record at market.sec.or.th/LicenseCheck/CompanyDetail/0000029773 publishes the licensee’s WebSiteURL as bitazza.com, and the register’s DABusiness broker grid publishes the same domain against the same firm. That is the strongest identity evidence a register offers.

The licences are for one thing only. The Thai register publishes seven digital asset classes and Bitazza appears in exactly one of them: broker. Not exchange, not dealer, not custodial wallet provider. Its own Thai marketing says so accurately, which is more than many firms manage. The exposure is what its regulator has since accused it of doing. On 20 February 2026 the SEC filed a criminal complaint alleging that Bitazza and Bitazza International Limited jointly operated an unlicensed digital asset exchange (release 46/2569), and on 24 March 2026 a second alleging an unlicensed dealer business through the Crypto Dust service and the Freedom Card (release 61/2569). Both name the current CEO and the former CEO personally. Both are allegations at the start of a criminal process, and the SEC’s own release says guilt is for the investigator, the prosecutor and the court in that order.

The part that decides what a reader actually gets is simpler and less discussed. Which company you contract with is set by which host you land on, not by where you live. On 12 August 2026 we pulled the user agreement from bitazza.com through exits in ten countries, including Thailand, and got a byte identical 133,450 byte document every single time. It names Bitazza International Limited of Tortola Pier Park, Road Town, British Virgin Islands, and it claims no licence and names no regulator as authorising it. The Thai licence and its statutory client asset protections live at bitazza.co.th and th.bitazza.com, the host in the picture above. The global site is a different company under different law.

Overview Table

Facts List

• Two verified SEC Thailand licences, both digital asset broker: 210180030005 for crypto and 210280030002 for tokens, licence date 12 July 2019, business start 18 December 2019.
• Zero exchange, dealer or custodial wallet licences. Control: Bitkub Online’s record on the same register shows exchange licences 310180020007 and 310280020004, so the feed displays them when a firm holds them.
• Eleven enforcement rows on the register: six compounding settlements totalling THB 2,917,500 between April 2025 and May 2026, and five criminal complaints, four live and one lapsed by prescription.
• The SEC referred bitazza.com to the Ministry of Digital Economy and Society for access blocking in Thailand from 22 March 2026, and warned users on the platform to deal with their assets before that date.
• The same URL is published by the same regulator as the licensed broker’s own website. Both are SEC publications. We report both and resolve neither.
• The SEC Board suspended new customer onboarding on 25 September 2024 and lifted it on 2 December 2024 after accepting evidenced remediation.
• We searched twelve offshore registers for Bitazza International Limited and found it on none of them. Four more refused our client, so the picture is incomplete and we say which four.
• Seven SEC Investor Alert entries name sites and LINE accounts impersonating Bitazza, five of them added since November 2025. These are findings against impersonators, not against Bitazza, and they are the thing most likely to cost a reader money.
• The only named third party custodian is Gabriel NS Limited of Hong Kong, trading as Kryptodian, and its only published credential is Trust and Company Service Provider Licence TC007799, which is a company services registration for anti money laundering purposes and not an authorisation to hold client assets.
• No proof of reserves exists anywhere in the estate. What does exist is audited annual accounts: the FY2024 statements served at HTTP 200 on 12 August 2026 showing revenue THB 505,319,346, profit for the year THB 17,255,639 and total equity THB 238,179,362.

Key Takeaways

• The licence is real and it is narrow. Bitazza Company Limited is a licensed Thai digital asset broker, verified by domain match on the SEC’s own register on 12 August 2026. A broker licence authorises acting as agent for a client. It does not authorise running an exchange, and it does not authorise dealing against the client’s order.
• Its regulator says it did both anyway. Two criminal complaints in five weeks, February and March 2026, allege exactly the two classes Bitazza does not hold. Both remain under investigation by the inquiry official. Nothing has been proved and nobody has been charged.
• The host decides the counterparty. bitazza.com contracts you with Bitazza International Limited in the British Virgin Islands, under BVI law with arbitration seated in the BVI. bitazza.co.th contracts you with the licensed Thai company. Nothing on the global site tells you the difference.
• We searched twelve offshore registers for the BVI entity and found nothing, and four more refused us, including the Cayman one whose own search separates a licence from a registration. That is a finding about the global entity only. It says nothing about the Thai company, which is a different firm under a different regime.
• The Thai warning is weaker than the English one. In the wallet transfer consent, the English text says your funds go to Bitazza Corporation Limited “which shall not be governed under Bitazza Company Limited (Bitazza Thailand)”. The Thai text names no legal entity and states no loss of protection. The Thai reader is the one whose protection comes from the Thai licence.
• The protection that exists is segregation, not compensation. Section 31 of the Emergency Decree gives per client segregated accounting, statutory client ownership of the assets and insolvency ring fencing. There is no payout scheme. We searched the Decree, its 2025 amendment and the Thailand Deposit Protection Agency’s own lists and found none.
• The firm discloses against its own interest in one place. Its risk disclosure states plainly that deposits are outside the Deposit Protection Agency Act and that a user “may not receive the full amount of assets returned all at once”. Few firms write that down.
• Six settled fines, THB 2,917,500, all between April 2025 and May 2026, and they hit the machinery that makes a licence protective: advertising controls, the compliance function, records, two net liquid capital reports and KYC.
• Accounts are late, not missing. Three criminal complaints are for filing or publishing annual statements after the deadline. The FY2020 to FY2024 PDFs serve on demand, and the FY2024 set shows a return to profit.
• There is no proof of reserves and no listing or delisting policy. Both were searched for across the 58 route build manifests, the footer document set and the Thai sitemap, and both are genuinely absent rather than unreachable.

Licences & Custody

Everything protective about Bitazza attaches to one company in one country. Below is what the register actually grants, read at source on 12 August 2026.

Licence Table

Both rows come from the same record, License_UnderDigitalAsset, which contains exactly two entries. Every other licence array on that record is empty: securities, derivatives, trust, all three register types and “ever received”. Two register traps are worth naming because they would mislead anyone checking this themselves. The isOperating flag reads false on both Bitazza rows, and it also reads false on all four rows for Bitkub Online, a firm that unambiguously operates, so it is a dud field. And LicenseType_EN on the company record is untranslated and simply repeats the Thai string. Where this register does express status is inline in the detail text, as it does for another firm whose licences read “temporary suspend as requested by the company”. Bitazza’s two rows carry no such annotation.

The same record answers a question the firm’s own pages never do: who owns the licensed entity. The register’s holders-above-ten-per-cent field publishes บริษัท บิทาซซ่า แอสเซทส์ จำกัด (Bitazza Assets Co., Ltd.) at 51 per cent and ONCHAIN CAPITAL LIMITED at 49 per cent, with registered and paid up capital of THB 181,001,000 and six directors, four Thai and two Malaysian. Neither shareholder appears anywhere on the SEC register in its own right: searching it for Bitazza Assets and for Onchain Capital returns zero rows for both, which is unremarkable, since a holding company has no reason to hold a digital asset licence.

The identity evidence is worth seeing directly, because it is what the whole review rests on. The SEC’s own licensee grids publish each firm’s website, and the Digital Asset Broker grid carries the row BITAZZA | BITAZZA COMPANY LIMITED | bitazza.com/ with ticks in both the Crypto and Token columns. Immediately below it in the same frame sits the Digital Asset Dealer grid, whose four members are MOBYX, 1109X, XSPRING and COINS TH. Bitazza is not among them.

Which Entity You Contract With, By Host

Two of those entities, Bitazza SWR Limited and Bitazza Corporation Limited, appear only inside the compiled JavaScript and in no served HTML page. The Mauritius agreement ships to production with an unfilled template placeholder where its registered address should be, the literal string [Insert Official Address], Port Louis, Mauritius. On the CFD side, the terms state that Eightcap Global “is authorized and regulated by the Securities Commission of The Bahamas (SCB), (SIA-F220)”. The substance of that holds: the firm is on the register, at the right address, permitted to do exactly what it is doing, and that is a conduct authorisation rather than an anti money laundering registration. We did not locate the reference the terms cite, but that list publishes no licence number column for anyone, so its absence there proves nothing about the reference and we are not suggesting it is wrong. Separately, the SCB’s Digital Assets and Registered Exchanges Act registrant list, which carries 35 registered businesses as at 31 July 2026, contains no Bitazza entity at all.

Custody, And What The Custodian’s Licence Actually Is

Bitazza’s Risk and Asset Keeping Disclosure names one third party custodian: Gabriel NS Limited, Hong Kong, credentialed as holding a “Trust and Company Service Provider License (TCSP License No. TC007799) from Registry for Trust and Company Service Providers”. We checked that number and the trail is worth setting out, because it looks alarming at first and is not. Hong Kong’s TCSP licensee register lists TC007799 against KRYPTODIAN LIMITED, at Flat 4002A, 40th Floor, Tower 1, Lippo Centre, 89 Queensway, Admiralty, and the complete register, 7,571 licensees, contains no occurrence of “Gabriel” at any number. The explanation comes from the custodian’s own website, which Bitazza’s compiled code links to as its custodian: kryptodian.com states “Kryptodian is the trading name of Gabriel NS Limited a company registered in Hong Kong No.2426209” and gives the same Lippo Centre address, and it links the TCSP register search for that name itself. So the two names are one business and Bitazza’s disclosure uses the legal name while the register carries the trading name. We did not obtain a formal record of the name change from the Hong Kong Companies Registry.

What the licence itself does is the part that matters, and it does not change. A Hong Kong TCSP licence is a company services registration under the anti money laundering ordinance, covering company formation, nominee directors, registered offices and nominee shareholders. It authorises nothing about holding client assets, sets no capital adequacy requirement and imposes no client money rules. Presenting it as a custodian’s regulatory credential overstates what it does, whatever name it is in. Separately, Bitazza itself holds no Thai custodial wallet licence; the register’s custodial grid lists two firms and neither is Bitazza.

The terms permit “possessing User’s Virtual Asset in the name of Bitazza”. Against that, the Thai FAQ claims cold wallets isolated from the internet, two factor authentication and “strict segregation of client assets from company funds”, and notes that as a licensed broker it must report client asset status to the regulator. Both statements are the firm’s, they point in different directions, and we publish both. The statutory backstop is real but limited: s.31 requires per client segregated accounting, makes the assets the client’s property and ring fences them on insolvency. That is a segregation and priority regime, not a payout scheme. We searched the full English texts of the Emergency Decree B.E. 2561 and its 2025 amendment for six terms covering protection, compensation, guarantee and investor protection funds and deposit insurance, and got zero hits for each; the Thailand Deposit Protection Agency’s protected institution list enumerates 17 commercial banks and no digital asset operator. Bitazza’s own risk disclosure agrees, in unusually blunt terms: it is “not a financial institution according to the Deposit Protection Agency Act”, so deposits are not protected by it, and a user “may not receive the full amount of assets returned all at once”. One related point is routinely mis-stated for brokers, so to be exact: the cold wallet floor of 95 per cent applies to licensed digital asset custodians. Bitazza is a broker, so it sits in the tiered non custodian rows, and which tier applies turns on the value of client assets it holds, which the register does not publish.

The Enforcement Record

The register carries eleven enforcement rows. Six are เปรียบเทียบ, settled by compounding, and those are concluded outcomes rather than allegations: THB 633,000 and THB 693,000 (25 May 2026, deficient advertising approval and control systems, with ads that distorted or concealed material facts and may have implied or guaranteed returns, and a deficient compliance function); THB 154,000 (22 September 2025, could not produce loan agreements and a borrowing process to the SEC); THB 277,500 and THB 75,000 (26 June 2025, daily and monthly net liquid capital reports not calculated per the rules); and THB 1,085,000 (25 April 2025, KYC and customer due diligence systems not robust enough to be sure it knew the true identity of its clients). Total THB 2,917,500, all imposed between April 2025 and May 2026.

Five rows are กล่าวโทษ, criminal complaints filed with the Economic Crime Suppression Division. One detail is worth a line in a review whose own theme is a single substituted Thai character: the third individual named in release 61/2569 appears there as นายวี เกียรติ เควิ่น เฮง, while the register’s own director list for the company spells him นายเควิน เฮง, romanised MrKEVIN HENG WEE KIAT. All three named individuals do appear on the register’s director list, across two Thai spellings. Four are live and carry the register result “under consideration by the investigating officer”. They are: the 20 February 2026 unlicensed exchange complaint against Bitazza International Limited and Bitazza, naming นายกวิน พงษ์พันธ์เดชา as former CEO and นายธนวัต สุตันติวรคุณ as CEO; the 24 March 2026 unlicensed dealer complaint over Crypto Dust and the Freedom Card, adding นายวี เกียรติ เควิ่น เฮง and บริษัท ฟรีดอมเวิร์ส จำกัด; and two for failing to file and publish the FY2022 and FY2023 financial statements by their deadlines. A fifth, over FY2021, is marked คดีขาดอายุความ, time barred, meaning it lapsed by prescription rather than being resolved on its merits. All three individuals named in the releases also appear on the register’s own director list for the company. A criminal complaint is an allegation at the start of a process. The SEC says so itself: determining guilt rests with the investigators, the public prosecutor and the courts, in that order. Nothing here is a finding against anyone.

Two supervisory actions do not appear on the enforcement tab and matter as much. On 25 September 2024 the SEC Board ordered Bitazza to stop accepting new customers until it remediated KYC and customer due diligence, citing investment amounts inconsistent with declared income, similar or duplicate customer emails and addresses, unsuitable review cycles and customer risk grouping. On 2 December 2024 the Board lifted it, resolving that Bitazza could accept customers as normal having remediated and evidenced the fixes. A licence that reads clean today passed through a ten week onboarding ban, and the firm did get out of it by fixing the thing.

Two Documents That Contradict Each Other, Both From The SEC

The register publishes The regulator's own website as the licensed broker’s own website, in two separate places. Press release 46/2569 identifies that exact URL as the Bitazza Global platform and refers it to the Ministry of Digital Economy and Society for blocking in Thailand from 22 March 2026, under the Emergency Decree on Measures for the Prevention and Suppression of Technology Crimes (No. 2) B.E. 2568. We checked the anchor: href and display text are both exactly that URL, so this is not a mislabelled link or a different subdomain. Both are SEC publications, both are retained, and we are not resolving the contradiction by guessing which is stale.

What The Offshore Registers Say About Bitazza International Limited

This is the entity almost every reader of this review will actually contract with, so it got a dedicated sweep. Searched and absent, twelve registers, each with a working positive control, for Bitazza International Limited and the group’s other names: the Seychelles FSA virtual asset service provider and capital markets registers, Labuan FSA, the BVI FSC virtual asset service provider register at bvifsc.vg/regulated-entities-vasp, enumerated in full with Bitstamp Global Ltd present as a positive control, plus the BVI FSC site wide search, Dubai VARA, ADGM, the DFSA, the Monetary Authority of Singapore, AUSTRAC, the Estonian MTR and the Bank of Lithuania. Zero Bitazza in any of them. UK Companies House is the one exception and it needs stating plainly rather than being folded into a zero: searching it returns BITAZZA TRADE LTD, company number 16513904, incorporated 12 June 2025, registered at 7 Second Avenue, London W3 7RX, with a single British individual director and no corporate person of significant control. No primary source connects that company to the Thai or British Virgin Islands companies in this review, and a shared brand name is not a group link, so nothing about it is carried into any finding here. Add the Bahamas SCB, where the digital asset registrant list also contains no Bitazza, and all three ESMA MiCA lists, where 329 authorised crypto asset service provider records, 167 non compliant records and 960 other records return zero matches.

Four registers were not reached, and that is a fact about us rather than about them. The Cayman Islands CIMA search is reCAPTCHA gated and we did not defeat it, which is the gap that hurts most, because CIMA’s own search separates a virtual asset service provider Licence from a virtual asset service provider Registration, and that authorisation versus anti money laundering distinction is exactly what this review turns on. The Mauritius FSC register was reached on a second attempt and it does answer: a search for Bitazza returns “No data found” against a working positive control, and the only holders of the Virtual Asset Market Place (Class S) licence Bitazza SWR Limited’s own agreement claims are Coins Digital Markets Limited and MINDEX Limited. So that claim is not merely unconfirmed, it is absent from the register it names. The BVI Registry of Corporate Affairs is gated behind Turnstile, which is why Bitazza International Limited has no established company number in this review. And the UK FCA register was not searched at all. None of those four publishes nothing, and none of them cannot be searched. We simply did not get an answer.

Two things must be held together here. The empty result is a finding about the BVI entity and about nothing else: it does not reach back and taint Bitazza Company Limited, a different company under a different regime holding a licence we verified twice by domain match. And the Thai licence does not launder the BVI entity either. The table above is where a reader learns which of the two they have got.

One clause in the global user agreement invites a mistake, so to be exact about it. Section 9.5 says the firm’s AML and KYC programme is “a risk-based program founded on requirements of the Financial Services Commission of the British Virgin Islands”. That describes where an internal policy takes its design from. It is not a registration and it is not an authorisation. The finding sits beside it: the same agreement describes conduct that would need authorisation in every regime we swept, including “possessing User’s Virtual Asset in the name of Bitazza”, “depositing and withdrawing User’s Virtual Asset with or from a custodian or depository” and “hot and cold storage of User’s Virtual Asset to partnered exchanges and other qualified service providers”. It refers to what the firm may offer under “its license”, in the singular, while naming no licence, no number and no issuing regulator anywhere in the document. That is what the documents say, and the reader can draw the conclusion.

The Thai Text Drops The Warning The English Text Carries

In the wallet crypto transfer consent, confirmed verbatim in the English FAQ served from the .co.th deployment and in two separate compiled chunks, the English reads: “You fully understand and acknowledge that your funds will be transferred to Bitazza Corporation Limited (Bitazza) which shall not be governed under Bitazza Company Limited (Bitazza Thailand)”. The Thai reads “คุณเข้าใจเป็นอย่างดีว่าสินทรัพย์ดิจิทัลของคุณจะถูกโอนไปยังหน่วยงานของ Bitazza Global”, which says only that the assets will be transferred to the Bitazza Global entity. The Thai version names no legal entity and states no loss of Thai entity governance. The reader whose protection comes from the Thai licence is the one told least about giving it up.

Impersonators, Which Are Not Bitazza’s Fault And Are Still Your Problem

The SEC’s Investor Alert listing carries seven entries naming sites and LINE accounts that hold themselves out as บริษัท บิทาซซ่า จำกัด, five of them added since 13 November 2025: thiabittazaa.com (6 February 2026), thiabittazaaz.com with LINE @728nouwj (30 January 2026), thaifacaizaaz.com (23 January 2026), thailandbittaza.com (2 December 2025), LINE @628kqtyk (13 November 2025), and bitazzab.com and bitazzath.com, both dated 10 August 2022. Every one of those alerts is a finding against a third party impersonating this firm, and none of them is a finding against Bitazza.

One of the seven is worth dwelling on, because it shows how thin the protection is. The February 2026 site claimed the company name as บริษัท บิทาชซ่า จำกัด, with ช where the real name has ซ. One character, in a non Latin script, and it slips past any search on the string. If somebody has approached you about Bitazza, compare the domain and the company name character by character against the register before you do anything else. This is the failure mode most likely to actually take a reader’s money, and it is one nobody else publishes.

Trading & Execution

Bitazza is a broker that routes orders to outside venues, not a self contained order book, and its licence class says so. This is the single most useful thing to understand about execution here, because it changes who is on the other side of your trade.

The disclosure that goes with it is genuinely good, and it is better on the licensed host than on the offshore one. Counted by hand on 12 August 2026, bitazza.co.th/risk-disclosure names fifteen sourced venues with each one’s regulator: Binance (AFSA Kazakhstan licence AFSA-G-LA-2022-0009 and a Dubai VARA licence), Kraken (AUSTRAC), Bitstamp (CSSF), B2C2 (FCA, FRN 810834), Crypto.com (MAS in principle approval), HTX (AUSTRAC), QCP (MAS, exempt and pending), Hidden Road Partners (AFM and DNB), Bullish (GFSC DLT licence), BlockFills (FinCEN MSB), FalconX (MFSA Class 3 VFAA licence), AlphaPoint Global S.A. de C.V. (El Salvador DASP PSAD-0005), Wintermute (FCA registered cryptoasset firm), BitGo Singapore (MAS Major Payment Institution) and Gulf Binance (Thai SEC, exchange and broker). bitazza.com/risk-disclosure names only nine, the same list minus Binance, FalconX, AlphaPoint Global, Wintermute, BitGo Singapore and Gulf Binance. Naming your liquidity sources with their licence references is unusually specific for this sector and it counts in the firm’s favour, more so on the Thai side.

Read that column carefully, though, because it mixes two very different things and presents them identically. An AUSTRAC digital currency exchange registration, a FinCEN money services business registration and an FCA “registered cryptoasset firm” entry are anti money laundering registrations. They carry no prudential supervision and no client asset rules. An FCA firm reference number, an MFSA Class 3 VFAA licence and a Gibraltar GFSC DLT licence are authorisations, which is a different and much higher thing. A single undifferentiated list makes a venue registered for money laundering checks look like a venue supervised for holding your money. Bitazza did not invent that convention, but it uses it.

The matching engine appears to be AlphaPoint’s APEX white label. We are labelling that as an inference, not a published claim: it rests on the runtime config constant NEXT_PUBLIC_APEX_DOMAIN: "https://apexapi.bitazzax.com" and the legacy AlphaPoint paths at btz.bitazza.com/dashboard.html. Bitazza states it nowhere in prose.

The Clause That Matters

The Thai Terms of Use say: “User acknowledges and agrees that Bitazza may affect Virtual Asset trading transactions for User’s Account as principal or agent.” A broker licence authorises the agent half. The SEC’s 24 March 2026 complaint alleges the firm went further and ran the principal half as a business, through a Crypto Dust service where, in the regulator’s words, there was no information indicating the orders were passed to any other digital asset exchange. That remains an allegation under investigation. What is not in dispute is that the firm’s own contract reserves the right.

Order types are not published as a list anywhere we looked. The FAQ evidences resting orders with Open and Completed states and user cancellation, and nothing more. One older enforcement item is directly relevant to execution quality and we flag its provenance clearly: our pack records a press sourced fine of about THB 1,470,000 dated 4 October 2024 concerning an inadequate brokerage system in which order book prices diverged from actual market prices with customer impact. We did not locate a primary SEC source or a settlement order number for it, and it does not appear on the current register display, so treat it as an unverified press report rather than an established finding.

Futures, Margin And Liquidation

Perpetual futures are offered by the global deployment only. The URL constant is FUTURES_GL and no FUTURES_TH equivalent exists, which means the leveraged product sits with the BVI entity and not with the licensed Thai broker. The futures agreement spells the instrument “Perceptual Contract” throughout, which is a typo in the source and we retain it here rather than tidy the firm’s document. Its mechanics, in its own terms: funding payments run periodically to align the mark price with spot; a margin call is notified through the platform, by email or by other electronic means when the initial margin drops below the maintenance margin over 80 per cent; liquidation is automatic and with no prior notice, with the position closed and unrealised profit or loss neither claimable nor withdrawable; and margin requirements may be changed at Bitazza’s sole discretion and “with an immediate effect” without prior notice. No leverage ratio is stated in the agreement at all.

CFDs are a third arrangement again. The terms served from both bitazza.com and bitazza.co.th state that “These derivative products (“Service”) are provided by Eightcap Global Ltd (Company No. 204033B) of 201 Church Street, Sandyport, New Providence, The Bahamas”, and that Bitazza International Limited “operates as a technology service provider, enabling you access to Eightcap Global’s platform” and carries out the KYC. So on the leveraged products the Thai licence a reader sees advertised does not reach the entity holding the client relationship.

There is also a request for quote desk. The firm’s own explainer describes RFQ as executing large transactions away from public markets, with trades occurring directly between the client and a dedicated broker rather than on an open order book. Whether the RFQ counterparty is the Thai licensed entity or the global one is not established by anything we read, and we are not assuming.

Accounts & Fee Tiers

There is no menu of account types here. There is one account, a verification ladder that unlocks limits, and a fee discount driven by how much of the firm’s own token you hold. What varies materially is not the account, it is the entity behind it.

Verification Levels

The fees page opens at KYC Level 1, which already carries an unlimited daily deposit allowance and a 50,000 THB daily withdrawal limit, against eight listed requirements. The Thai FAQ names Levels 1, 2 and 3 and lists those requirements as ID upload, selfie upload, general information, financial information, other disclosure, a suitability test, a FATCA questionnaire and a knowledge test. One inconsistency is worth flagging rather than smoothing over: the same fee page renders a five level table in which the values repeat across every level, which is the signature of a table that did not fully render, so we do not publish per level figures from it. Where the FAQ and that table disagree on how many levels exist, we report both and settle neither.

The FDM Discount Ladder

The tiers are named and they run from BRONZE at 0 FDM held, giving 50 per cent off trading fees, up to EMERALD at 3,000,000 FDM, giving 70 per cent, with an additional early adopter bonus of 5 percentage points. That is where the marketing’s “up to 75%” comes from: it is 70 plus 5, and the top rate is not reachable by holding tokens alone. Worth knowing before the headline discount becomes a reason to buy the token.

Fees, By Entity

Read that table with the entity question in mind. The Thai entity’s rail is cheap and specific: free deposits, a 20 THB minimum withdrawal fee and round the clock processing is a genuinely good deal for a retail Thai user, and it is published rather than buried. The global entity’s rail effectively does not exist for retail at all, because a USD 30,000 floor on both the deposit and the withdrawal leg prices out every ordinary user of the site that all ten of our test countries landed on.

Against the Thai number: 0.25 per cent flat with no maker rebate is a meaningful cost on an active book, and the headline relief requires holding a token whose price moves and whose control and distribution we could not establish. Above the retail tiers sit two named programmes, an Elite programme hosted on a third party domain and an OTC desk. We did not obtain the qualifying thresholds or terms for either.

Proof of Reserves

There is none. That is a searched and absent finding, not a gap in our fetching, and it is worth being precise about which surfaces were searched.

The Thai platform’s own sitemap answered plain curl at HTTP 200, 18,651 bytes decoded, and contains zero case insensitive occurrences of proof, reserve, attestation, audit or merkle. The 58 route build manifests of bitazza.com and bitazza.co.th, the footer document set and the compiled chunks of both sites were read in full and carry no reserve statement, no attestation and no Merkle tree page. A separate open web pass found no evidence the firm ever promised one and failed to deliver it, which matters: this is a disclosure gap, not a broken promise. Three sitemaps were not read from our vantage, because bitazza.com, content.bitazza.com and blog.bitazza.com each returned a Cloudflare 403 to our client, so we scope the absence claim to the surfaces we did read.

What Exists Instead, And Why It Is Not The Same Thing

Bitazza publishes audited annual financial statements for the Thai entity, and they serve. On 12 August 2026 the FY2024 English statements returned HTTP 200 at 4,127,021 bytes, 57 pages, alongside FY2023, FY2022 and a highlights document. The URLs are not linked from the served HTML at all, because the footer renders as div elements with onClick handlers rather than anchors; they live in the site’s own compiled chunk as a URLs constant map. This matters directly to the enforcement record: the SEC’s three criminal complaints about financial statements are about missing the statutory deadline for FY2021, FY2022 and FY2023, not about never publishing. Writing that Bitazza does not publish accounts would be false.

The FY2024 numbers, read off the audited statements: total revenue THB 505,319,346 against THB 328,032,364 in FY2023, of which commission income is the largest line at THB 330,497,315; total expenses THB 481,500,167; profit for the year THB 17,255,639 after a FY2023 loss of THB 10,367,569; total assets THB 599,253,534; total liabilities THB 361,074,172; total equity THB 238,179,362, up from THB 62,928,876, driven mostly by a THB 100,000,000 share capital increase and a THB 58,039,130 revaluation gain on digital assets. Basic earnings per share 2.33 baht. The statements are scans with no text layer, so those figures were read visually off rendered pages and written down here precisely so they can be checked.

An annual balance sheet is not a proof of reserves. It tells you what one company in the group owned and owed on 31 December. It does not tell you, at any point in time, that client coins are matched one for one by holdings, and it says nothing at all about the BVI entity that most visitors actually contract with. Two further caveats sit on top. The document the SEC facing footer still links as Financial Highlights covers 2021 and 2020, five years stale as at 12 August 2026, and it sets an “As presented” column against an “Actual” column, arguing that the audited net loss of 324 million baht “fails to accurately portray the genuine financial standing” and that the actual net profit was 37.12 million baht, a treatment it says was agreed “in concurrence with our appointed auditor”. That is a firm publishing an unaudited alternative to its own audited figure and still linking it years later.

Listed Assets

Bitazza’s own sitemap for the Thai platform lists 108 THB spot pairs, and every single one is quoted in baht. No USDT or USD quoted pair appears on the Thai host at all. The list runs from BTCTHB, ETHTHB, USDTTHB and USDCTHB through the majors (SOLTHB, XRPTHB, ADATHB, BNBTHB, DOTTHB, AVAXTHB, LINKTHB, ATOMTHB, NEARTHB, TONTHB, SUITHB, APTTHB, ARBTHB, OPTHB, FILTHB, TRXTHB, XLMTHB, HBARTHB) to a long memecoin tail (PEPETHB, SHIBTHB, DOGETHB, BONKTHB, WIFTHB, MOODENGTHB, TRUMPTHB and others), plus PAXGTHB and the Thai linked VELOTHB.

That number is what the sitemap says, and we are careful to publish it as exactly that rather than as “108 live pairs”. Here is the control that forces the caution. The trading app is a client rendered shell that answers HTTP 200 for any path: /spot/BTCTHB and /spot/NOTAREALPAIRTHB, a string we invented, both return 200 with bodies of the same size. A liveness check on those URLs would have passed a pair that does not exist, and a byte count check would have passed it too. The real market list renders from api.bitazzax.com, which refused our fetcher, so no enumerated live list was obtained.

There is a second reason not to read 108 as a live count, and it is stronger than the first. Ten of the twelve tokens Bitazza announced for delisting in March 2026 are still in that sitemap today: IDTHB, MEMETHB, HUMATHB, JUPTHB, BERATHB, RENDERTHB, CHZTHB, BALTHB, BNTTHB and WLDTHB. Only PLUME is cleanly absent, and METIS is ambiguous because the sitemap carries a similar but not identical string. Either the sitemap is four months stale or the delisting did not complete, and we did not establish which. Treat 108 as an upper bound drawn from an artefact of unknown age, not as the number of pairs a customer can trade.

The firm’s own counts do not agree with each other or with the sitemap. bitazza.com’s hero states “CRYPTOCURRENCIES 90+”. The Thai FAQ says “over 60 tokens and trading pairs”. Navigation copy on the newer build advertises futures reaching “up to 190+ USDT trading pairs”. Three products, three numbers, none reconciled by the firm and none matching the 108 in its own sitemap.

Nobody Publishes How Something Gets Listed Or Removed

There is no listing or delisting policy anywhere in this estate. That was checked against the 58 route build manifests of both sites, the footer document set and all 1,113 sitemap URLs, and it is a genuine absence rather than a fetch failure. What governs instead is a discretion clause: the Thai Terms of Use make the tradable assets those determined by Bitazza “in its sole and absolute discretion and in accordance with the rules prescribed by the SEC”. Delistings are announced ad hoc on the blog.

The most recent one shows what that means in practice. On 17 March 2026 Bitazza announced the delisting of twelve tokens (ID, MEME, METIS, HUMA, JUP, BERA, RENDER, CHZ, BAL, BNT, PLUME and WLD), with deposits closing 24 March, withdrawals closing 31 March and delisting completed 16 April 2026. The terms attached to it are the part to read: a monthly custody fee of 0.25 per cent of the outstanding balance with a minimum of 300 baht, which consumes a sub 300 baht balance entirely, and a reservation of the right to manage any remaining assets at the company’s discretion if they are not withdrawn in time.

An older episode shows the other posture the firm can take. On 13 May 2022 it suspended all trading in LUNA and UST, saying in its own words that “the value of LUNA and UST can no longer support trading and the Terra network has halted”, and adding that “despite being removed from the platform, Bitazza will hold your LUNA and UST indefinitely with zero maintenance fees required”. Indefinite free storage in 2022, a 300 baht minimum monthly custody fee in 2026. Both are the same firm’s choice, because no policy binds either one. For what it is worth, LUNCTHB and USTCTHB appear in the current Thai sitemap pair list, so the Terra assets are quoted again in their Classic form.

Research & Tools

The research side of this estate is large in volume and thin in the things a trader actually checks before committing money.

The bulk of it is content.bitazza.com, a WordPress backed content hub carrying 1,054 of the 1,113 URLs in Bitazza’s own sitemap. Alongside it run blog.bitazza.com in English for the global side and blogth.bitazza.com plus blog.bitazza.co.th in Thai. The derivatives material is reasonably serious for a retail hub: retained posts cover margin in derivatives, profit and loss in derivatives, order metrics, spot versus futures trading and trading through economic events, and a January 2025 Bitazza 101 explainer walks through the futures interface, leverage adjustment, order types and monitoring tools. Many post slugs end in “-gl”, Bitazza’s own marker for the Global deployment, which is a quiet reminder of which entity a given feature belongs to.

A trading simulator exists as a published feature. The URL constant TRADING_SIMULATOR_EN points at content.bitazza.com/trading-simulator-feature-en/, the sitemap carries English and Thai simulator pages plus a simulator category, and the January 2025 explainer describes it as trading with virtual funds. We did not fetch the simulator page itself, so we report what Bitazza publishes about it and stop there.

TradingView appears as a campaign integration rather than as a documented charting stack. The evidence is the URL constant TRADING_VIEW_CAMPAGIN_TH and the campaign.bitazza.com host carrying the promotion. Which charting library the trade.bitazza.com terminal itself renders was not established, and a promotional page is no basis for guessing.

Two absences are worth stating precisely, because they are the ones a serious user hits. There is no public API documentation we could reach: api-doc.bitazza.com, a host Bitazza itself runs for that purpose, served 24 bytes to one of our fetchers, the string “<h5>We are hiring..</h5>”, and refused another with a Cloudflare 403, so the honest statement is that we did not obtain API documentation rather than that none exists. The production API backbone answers from a separate registrable domain, bitazzax.com. And there is no status page and no incident archive anywhere in the estate, so no first party record of uptime, outages or maintenance exists to consult. Announcements are scattered across blog posts instead, which is how a THB withdrawal outage ended up with a restoration notice dated 21 February 2025 and no record anywhere of when it began or how long it ran.

Earn, Staking & Lending

The rewards side of Bitazza is built around one token, and the honest summary is that we can describe the token and not the terms.

The token is FDM. Bitazza’s own April 2026 notice says its tokenomics and treasury activity can be independently verified on chain at Ethereum address 0x60d91f6D394c5004A782E0D175E2b839e078FB83, so we read the contract directly from Ethereum mainnet on 12 August 2026. It answers: name “Freedom”, symbol “FDM”, 18 decimals, total supply 2,250,000,000 FDM. That is all that check establishes. It says nothing about who controls the supply, how it is distributed, whether staking yields are funded from anywhere, or whether the token carries any claim on company assets, and we are not stretching it to imply otherwise.

What FDM does inside the product is fee relief and tiering, through the BRONZE to EMERALD ladder set out in Accounts and Fee Tiers above, and a “Freedom Levels” programme that ties rewards to holdings. The firm asserts that staking is live. Its own 2 April 2026 notice says, verbatim, that FDM’s “use cases across the Freedom World application and Freedom Card remain active, while staking benefits and trading fee discounts are available through the Bitazza platform”.

No staking terms document exists anywhere we searched, so the most important question about the product is unresolved and we will not answer it either way. We looked in the 58 route build manifests of both bitazza.com and bitazza.co.th, in the footer document set and in the bitazza.co.th sitemap. The route list carries /fdm and /levels and no staking agreement. That leaves open whether staked coins remain the user’s property under the s.31 segregation regime or whether title passes to the operator, which is the difference between an asset held for you and an unsecured claim on a company. It is unresolved because the terms are not published on any surface we could reach, not because we did not look. Any yield figures are in the same position: we captured none from a primary surface and are publishing none.

One oddity, stated narrowly because that is as far as the evidence goes. The two hostnames associated with BTZ staking no longer serve: stake.bitazza.com does not resolve at all, with no A record and no CNAME from either 1.1.1.1 or 8.8.8.8 while a control lookup of bitazza.co.th on the same resolver works, and btz.bitazza.com/index.html resolves but returns HTTP 404. We are not saying the firm took its staking pages down, because both hostnames reached us second hand and we never read a sitemap listing them ourselves. What is worth noting is the shift underneath: the dead infrastructure is BTZ branded, and the live claim is FDM branded.

Around the token sits the Freedom ecosystem: the Freedom Card, Freedom World, a Freedom Mall and partner portals. On the card, the firm states that the Visa prepaid card, virtual and physical, is “issued and owned by T2P Co., Ltd.”, described as a payment service provider licensed and regulated under the Bank of Thailand and a member of the Visa payment network. Two things to hold together there. The card is issued by a Bank of Thailand licensed third party, which is a real credential. And the Freedom Card is also one of the two products named in the SEC’s 24 March 2026 criminal complaint, which alleges that Bitazza and บริษัท ฟรีดอมเวิร์ส จำกัด bought digital assets for cash credited to the card for a fee, promoted through Bitazza’s Facebook account. That allegation is under investigation and has not been tested. The firm’s April 2026 notice, published after both complaints, names the Freedom Card as an active use case.

Opening an Account

Opening an account is the point at which the entity question becomes concrete, and the site does not flag it. Signing up at bitazza.co.th puts you with the licensed Thai company. Signing up at bitazza.com puts you with Bitazza International Limited in the British Virgin Islands, through its own funnel at trade.bitazza.com/gl/signup and its own KYC host at kyc.bitazza.com/gl.

For the Thai entity, verification runs through the levels described in the FAQ and requires, in the firm’s own list, ID upload, selfie upload, general information, financial information, other disclosure, a suitability test, a FATCA questionnaire and a knowledge test. Accepted identity documents are a Thai ID card or a passport. Whether a non Thai resident can open an account with the licensed Thai entity was not determined: establishing it would have required creating an account, and we did not.

The Thai Bank Account Is The Real Gate

The baht rail is tied to a Thai bank account in your own name. Deposits arrive by scanning an in app QR code with a Thai mobile banking app; e-wallets are explicitly not supported, in the firm’s words “Only deposit from Bank app as Bitazza do not support depositing via E-Wallet”; and deposits from an account in a different name “will NOT be accepted”. The firm states that users without a Thai bank account can still deposit and withdraw cryptocurrency and trade normally. The string continues past that point and is truncated in our extract, so we stop where the source stops: the point to take is that the baht rail, not the account, is what a Thai bank relationship unlocks.

Account Recovery Is Manual, And That Is A Design Choice

Account unlock, two factor authentication reset, deactivation, freezing and unfreezing all require emailing a selfie holding a handwritten note to [email protected]. Each is quoted at 24 hours. There is no in app self service path for any of them. For a user locked out while a position moves, that is a materially bad arrangement, and it is the same manual channel for all five procedures.

Onboarding History Worth Knowing Before You Start

Bitazza’s ability to take on new customers was suspended by the SEC Board on 25 September 2024 over know your customer and customer due diligence deficiencies, including investment amounts inconsistent with declared income and similar or duplicate customer emails and addresses, and restored on 2 December 2024 once the remediation was evidenced. Separately, a compounding settlement of THB 1,085,000 on 25 April 2025 concerned KYC and CDD systems that were not robust enough to be sure the firm knew the true identity of its clients, over conduct from 25 April 2024 to 25 November 2024. Both are on the record, both are concluded, and the second is a settled outcome rather than an allegation. A prospective customer should read them as evidence about how this firm’s onboarding has been run and how its regulator responded.

Deposits & Withdrawals

Money moves differently depending on which company you signed up with, and the difference is stark.

Bitazza Thailand

Baht comes in by bank transfer, initiated from an in app QR code scanned with a Thai mobile banking app. There is no deposit fee, on fiat or on crypto. Daily deposits are unlimited. Withdrawals cost 0.001 per cent of the amount with a minimum of 20 THB, are processed 24 hours a day and 7 days a week, and are capped at 50,000 THB per day at Level 1, although the fee page states that transactions above 2,000,000 THB per transaction are permitted. The first withdrawal, fiat or crypto, requires an initial THB deposit and a 24 hour wait. Deposits must come from a bank account in the same name as the Bitazza account and e-wallets are not accepted. Internal transfers between Bitazza accounts, by Bitazza ID or email, are free and instant.

Bitazza Global

There is effectively no retail fiat rail. The fee page states “We currently only support only fiat deposits of USD 30,000 or higher” and the same for withdrawals, the doubled “only” being in the source. The daily withdrawal limit is 90,000 USD. Crypto deposits are free.

On both entities, crypto withdrawal fees are unquantified. The firm publishes no per asset table and says only that “Withdrawals rates are determined by the blockchain network and can fluctuate without prior notice due to factors such as network congestion”. That is a published non answer rather than an unchecked field, and withdrawal cost is one of the things a reader is entitled to know before depositing.

There is a pointer to more detail and it does not work. The Thai fee page carries a “Read more” link next to that sentence, and we fetched the href exactly as the page publishes it, https://campaign.bitazza.com/crypto/fees. Bitazza’s own server answers with a 301 to https://campaign.bitazza.co.th/crypto/fees, and that address returns a genuine 404 page reading “404: This page could not be found.” The control matters here: the root of that same campaign host answers 200 and serves a live page, so the host is up and only the fee path is missing. Checked on 12 August 2026 from a London vantage, under both HTTP/1.1 and HTTP/2 so it is not a protocol artefact; a French vantage was refused by Cloudflare rather than returning a 404. This is a broken link on a fee page, not evidence that the firm is hiding anything, and the substantive point stands on its own: a customer cannot see what a withdrawal will cost before making it.

The Route Out Of The Licensed Perimeter

The Thai site’s own FAQ documents a transfer flow that moves client crypto from the SEC licensed Thai entity to Bitazza Corporation Limited, an entity whose jurisdiction, company number and registered address appear nowhere in anything we read. The English consent text asks the user to acknowledge that the funds “shall not be governed under Bitazza Company Limited (Bitazza Thailand)”. Section 31 segregation, the hot and cold wallet limits and the net liquid capital regime attach to the Thai licensee. Nothing in the evidence shows what, if anything, attaches after that transfer.

Incident Record

Every row carries a date, an amount where one exists, and a source. Regulatory fines are not repeated here; they are itemised in Licences and Custody above.

What is not in that table matters as much as what is. No hack, insolvency event, platform wide withdrawal freeze or mass account seizure was established for any Bitazza entity, in either direction. The firm publishes no status page and no incident archive, so there is no first party surface where such an event would be recorded, and absence of evidence here is not evidence of absence. Note also our own observation, recorded for exactly what it is: on 12 August 2026 we reached bitazza.com, blog.bitazza.com, th.bitazza.com and trade.bitazza.com from a Thai residential proxy exit, all returning full bodies including the 133,450 byte BVI user agreement. That does not show the block was lifted or is ineffective. An order to the Ministry binds Thai internet providers, and a commercial proxy exit does not necessarily traverse the same resolution path as a domestic subscriber. Settling it would take a real Thai consumer connection, and we did not have one.

Customer Support

Judge crypto support by what happens on a bad day, not by how many channels sit in the footer. On that measure this is the weakest part of the operation.

What Exists

Email to [email protected] and [email protected]. A Freshchat live chat widget, loaded from bitazzahelp.freshchat.com and present in the served markup, with a Freshdesk instance also referenced. A large content hub at content.bitazza.com carrying 1,054 of the firm’s 1,113 sitemap URLs. Public channels on Telegram, Discord, X, Facebook, YouTube, LinkedIn, Instagram and TikTok, with separate accounts for the Thai and global sides. Languages are English and Thai only.

What Does Not Exist

No telephone number appears anywhere in the harvested estate. No support hours are published. That second one is a disclosure choice rather than an oversight: the same fee page states that fiat withdrawal processing runs 24 hours a day, 7 days a week, so the firm publishes operational hours where it wants to and omits them for support. The company’s own April 2026 notice describes [email protected] as a “24/7 service center”, which is a claim on a blog post, not a published service commitment, and we treat it as such.

Every account recovery path is manual email with a handwritten note selfie, quoted at 24 hours each, covering unlock, two factor reset, deactivation, freeze and unfreeze. For someone locked out with an open position and no phone line to call, 24 hours by email is the whole service.

Incident Response, Which Is The Real Test

There is no status page and no incident or announcement archive anywhere in the estate, so a user cannot check whether a problem is theirs or everyone’s. On the one incident where response was directly observable, the record is poor. The SEC filed its complaint on 20 February 2026 and announced that bitazza.com would be blocked in Thailand from 22 March 2026, expressly warning users to deal with their assets before that date. Bitazza Global’s public response is a blog post dated 2 April 2026, eleven days after the blocking date, headed “Important Notice: Bitazza Global Platform Remains Accessible Globally”. It says the platform “continues to operate as usual”, that “while certain regulatory frameworks may affect access in some regions, including Thailand, these are localized limitations”, and that “for users residing in Thailand, Bitazza Thailand provides an option to access digital asset services in accordance with local regulatory requirements”. It never names the criminal complaints, the blocking order or the deadline, and it does not tell an affected user what to do about assets sitting on the platform. Late, and thin on the one thing that mattered.

The Thai side’s 20 February 2026 statement takes a different line, saying the two companies “belong to the same corporate group” but that their management, systems, services and communications “have now been clearly separated”. The word “now” is doing a lot of work given what the SEC alleges about the period before it.

Restricted Countries

We looked for a restricted country list and did not find one. That is the finding, and it is worth stating carefully rather than filling the gap with a plausible list.

What we searched: the Bitazza Global User Agreement served from bitazza.com through exits in ten countries (th, gb, de, sg, id, jp, us, au, ae, in) on 12 August 2026, the Thai Terms of Use, the fee pages and the privacy policies on both deployments, and the 58 route build manifests. No published country blacklist appears in any of them.

What does appear is sanctions screening rather than geography. The Thai Terms of Use exclude anyone on a United Nations or Thai Anti-Money Laundering Office sanctions list. The BVI user agreement names the United Nations and the Financial Services Commission of the British Virgin Islands as sanctions list sources. That is a screening regime applied to persons, not a list of countries the firm refuses.

The United States deserves a specific note because its absence is unusual. The BVI user agreement was served unchanged to a United States vantage, byte identical to the other nine, and we found no US person exclusion clause in it. We are reporting what the document says and does not say. We are not asserting that Americans can or should open accounts, and nothing here is advice about whether doing so would be lawful where you live.

The one geographic restriction actually on the record runs in the opposite direction to the usual pattern. It is Thailand, and it is aimed at the global platform: on 22 March 2026, following SEC release 46/2569, bitazza.com was referred to the Ministry of Digital Economy and Society for access blocking in Thailand under the Emergency Decree on Measures for the Prevention and Suppression of Technology Crimes (No. 2) B.E. 2568. Thai residents are directed by the company itself to Bitazza Thailand instead. Whether that block is currently in force we did not establish; our own Thai exit reached the site on 12 August 2026, which proves something about our proxy and nothing about a domestic connection.

What Recourse Actually Looks Like If You Are Not In Thailand

This is the practical version of the entity question. The global user agreement states that it “shall be governed by and construed in accordance with the laws of British Virgin Islands, without regard to conflict of law principles”, and that any dispute “shall be referred to and finally be resolved by arbitration in British Virgin Islands in accordance with the Arbitration Rules of the British Virgin Islands International Arbitration Centre”, before a sole arbitrator. So a user outside Thailand contracts with a BVI company, under BVI law, and arbitrates in the BVI. There is no Thai SEC complaints route into any of that, because the Thai licensee is not the counterparty. One further small observation from our own lookup on 12 August 2026: the host global.bitazza.com does not resolve at all, while bitazza.com resolves normally.

For European readers, one register fact and no inference from it: Bitazza appears on none of the three ESMA MiCA lists, with zero matches across the 329 authorised crypto asset service provider records, the 167 record non compliant list and the 960 record other list. Absence from the authorised list is not the same as a prohibition, and absence from the non compliant list is neutral rather than a point in the firm’s favour. A Mauritius deployment and a Poland deployment both exist in the firm’s own code, the second with no entity name attached to it anywhere, and neither tells a reader which countries are actually served.

Conclusion

Bitazza scores 5.0 out of 10, from regulation 5, fees 5, platform 6, support 4 and reviews 5. That is the middle of the scale, and it is the middle for a specific reason rather than as a shrug: one half of this business is properly licensed and supervised, and the half that most visitors actually meet is not.

The case for it is not thin. บริษัท บิทาซซ่า จำกัด holds genuine SEC Thailand broker licences, verified by domain match on the regulator’s own register twice, in a regime that is a real licensing regime rather than an anti money laundering registration: statutory per client segregation, client ownership of the assets, insolvency ring fencing, THB 25 million minimum fixed capital, tiered wallet limits and daily net liquid capital reporting. Its Thai marketing calls it a broker, which is exactly what it is. Its Thai risk disclosure names fifteen outside liquidity venues with each one’s regulator, which almost nobody in this sector does, and it names six more than the global site does. Its own risk disclosure warns against its own interest that deposits sit outside the Deposit Protection Agency Act and that a user “may not receive the full amount of assets returned all at once”. Its audited FY2024 accounts serve on demand and show a return to profit, with equity of THB 238,179,362. And when the SEC banned new onboarding in September 2024, it remediated and got the ban lifted ten weeks later.

The case against it is equally concrete. Every visitor to bitazza.com in all ten countries we tested, Thailand included, contracts with a British Virgin Islands company that claims no licence, names no regulator, appears on none of the twelve offshore registers we searched, and has no company number we could establish. Futures and CFDs run through that entity and through Eightcap Global Limited, not the licensed broker. The Thai site documents a transfer flow that moves client crypto to an entity whose jurisdiction is stated nowhere, and the Thai language consent for it omits both the receiving entity’s name and the warning about lost protection that the English version carries. There is no proof of reserves, no listing or delisting policy, no crypto withdrawal fee table, no support hours, no phone line and no status page. The one named custodian’s only credential is a company services registration, not a custody authorisation. Six settled fines totalling THB 2,917,500 landed between April 2025 and May 2026 on exactly the prudential and KYC machinery that makes a licence protective. And four live criminal complaints, two of which allege the firm ran the two business classes it does not hold, sit unresolved with the current and former CEO named. Those are allegations, not findings, and they must be read that way until an investigator, a prosecutor and a court say otherwise.

Who this suits. A Thai resident who signs up on bitazza.co.th, keeps assets on the licensed entity, uses the baht rail, and treats the platform as a broker rather than a vault. That user gets free deposits, a 20 THB minimum withdrawal fee processed around the clock, a claimed personal income tax exemption on licensed platforms that the firm attributes to Ministerial Regulation No. 399 and that we have not independently verified, and statutory segregation behind their balance. It suits them least if they were planning to leave a large balance parked indefinitely, because segregation is not compensation and there is nothing here that proves reserves at a point in time.

Who it does not suit. Anyone outside Thailand landing on bitazza.com. The fiat rail starts at USD 30,000, the counterparty is unlicensed as far as anything published or searchable shows, the leveraged products belong to third parties, and any dispute goes to arbitration in the British Virgin Islands under BVI law. If you have been contacted by someone claiming to be Bitazza, check the domain against the seven SEC investor alerts first: five impersonating sites and accounts have been listed since November 2025 alone, and that is the failure mode most likely to actually take your money.

FAQ