On March 17, 2026, Malaysia’s Securities Commission (SC) added BitradeX to its Investor Alert List, citing securities fraud and unlicensed capital market activities. After an internal investigation, the SC determined that BitradeX was “carrying on unlicensed capital market activities of dealing in securities” through its website and mobile apps on the Google Play Store and Apple App Store.
The regulator explicitly warned investors to avoid the platform due to the lack of proper registration or authorization in Malaysia.
BitradeX operates as a Chinese-origin MLM crypto Ponzi scheme. It gained visibility when French footballer Olivier Giroud was announced as its “Brand Ambassador” in June 2025. The platform promises high returns through crypto trading and recruitment, a classic structure where new investor funds pay earlier participants.
As of February 2026, BitradeX’s website attracted approximately 1.6 million monthly visits, with top traffic sources from Brazil (8%), Japan (8%), Saudi Arabia (8%), the United States (7%), and Malaysia (6%).
The company is not registered to offer securities in any jurisdiction.
This is not the first red flag for BitradeX. In February 2026, Thailand’s Securities and Exchange Commission (SEC) also issued a securities fraud warning against the platform. Multiple jurisdictions are now alerting the public about the risks associated with BitradeX.
Investors should treat any platform promising guaranteed high returns through crypto trading and recruitment with extreme caution. Always verify a company’s registration status with the relevant regulator before investing.
Bitcoin (BTC) and broader crypto markets remain unaffected by this specific warning.
