Bitget is seeking a foothold in Thailand’s regulated digital-asset market through a proposed acquisition of GMO-Z.com Cryptonomics, weeks after a security breach affected approximately $388 million in assets linked to its hot and warm wallets.
Proposed route into Thailand
The planned transaction involves BTGT Management (Thailand), a company in which Bitget says it holds an interest. If completed, the deal would give Bitget a locally licensed operating route for introducing its trading platform to Thai users and expanding its presence in Southeast Asia.
GMO-Z.com Cryptonomics runs Z.com EX, a digital-asset exchange launched in February 2021. Thailand’s Securities and Exchange Commission lists the company among the country’s licensed digital-asset exchange operators.
GMO Internet disclosed the proposed sale to BTGT Management in a filing dated Sept. 24, with completion targeted for Oct. 31. The transaction still requires regulatory approval and must meet other conditions before it can close.
Bitget has not disclosed the financial terms of the proposed acquisition. It also declined to say how large an interest it holds in BTGT Management or to provide details about the ownership structure.
“Thailand is an important part of Southeast Asia’s digital asset landscape, and this acquisition gives us a great opportunity to establish local operations in a thriving country,” Bitget CEO Gracy Chen said in a statement. The proposed deal was reported by Cointelegraph.
Expansion follows wallet breach
The acquisition plan comes after an attack on Bitget’s hot and warm wallet infrastructure on Sept. 24. Hot wallets are connected to online systems, while warm wallets have limited online connectivity; both are used by exchanges to support transactions and withdrawals.
Bitget said the attackers exploited a vulnerability in a third-party security product and sent fraudulent withdrawal commands. The exchange estimated that approximately $388 million was affected, while stating that customer account balances were not impacted. It said withdrawals were restored in phases, with the process completed on Oct. 2.
The company also announced on Oct. 17 that it would discontinue services for certain users, calling the move a “one-off exercise.” Its terms of use, updated Oct. 16, identify Russia, Belarus and Kazakhstan as prohibited jurisdictions. Thailand is also listed, making the proposed acquisition significant because a locally licensed operator could provide a route into a market that is currently restricted under Bitget’s terms.
Moneyiar market picture
Moneyiar data at the stated times shows mixed performance among the tracked digital assets:
- Ethereum Name Service (ENS): $5.683755084, up 5.06% over 24 hours and down 4.63% over seven days, as of Oct. 21, 2026, at 11:04 a.m. +03:30.
- Propy (PRO): $0.3478392173, down 0.38% over 24 hours and 8.93% over seven days, as of Oct. 21, 2026, at 11:04 a.m. +03:30.
- Ark (ARK): $0.1756907901, up 2.06% over 24 hours and down 5.27% over seven days, as of Oct. 21, 2026, at 11:04 a.m. +03:30.
- WOULD (WOULD): $0.0351412837, up 0.33% over 24 hours and 10.6% over seven days, as of Sept. 22, 2026, at 9:04 p.m. +03:30.
