Security Compliance
Bitvo's exit was orderly and its record clean. It was a CSA-registered restricted dealer that operated on a full reserve basis, meaning it never lent customer funds, and held client assets with third-party custodians BitGo, with over 80% in cold storage. No customer funds were lost in the wind-down, and its refusal to close the FTX deal after the collapse protected its clients from being dragged into the largest fraud in crypto history.
BitMEX's technical security record is genuinely strong: it has never been hacked, keeps all bitcoin in cold storage with multi-signature wallets, and has employees manually audit withdrawals. Its regulatory record is another matter. BitMEX and its founders pleaded guilty to violating the US Bank Secrecy Act for failing to run an anti-money-laundering program, the company was fined $100 million in January 2025, and its three co-founders were pardoned by President Trump in March 2025. Funds on the platform have historically been safe from hackers; the risk was always regulatory.
Bitvo's exit was orderly and its record clean. It was a CSA-registered restricted dealer that operated on a full reserve basis, meaning it never lent customer funds, and held client assets with BitGo, with over 80% in cold storage. No customer funds were lost in the wind-down, and its refusal to close the FTX deal after the collapse protected its clients from being dragged into the largest fraud in crypto history.
BitMEX's technical security record is genuinely strong: it has never been hacked, keeps all bitcoin in cold storage with multi-signature wallets, and has employees manually audit withdrawals. Its regulatory record is another matter. BitMEX and its founders pleaded guilty to violating the US Bank Secrecy Act for failing to run an anti-money-laundering program, the company was fined $100 million in January 2025, and its three co-founders were pardoned by President Trump in March 2025. Funds on the platform have historically been safe from hackers; the risk was always regulatory.
Bitvo had a clean security and compliance record during its operational life, with BitGo cold storage custody and an orderly wind-down with no customer fund losses. BitMEX has a strong technical security record with cold storage and manual withdrawal audits, but its regulatory history includes a $100M US fine for AML failures. Neither platform is relevant to Canadian users going forward.
Regulatory Compliance
Bitvo was registered with FINTRAC and as a restricted dealer with Canadian securities regulators, and that registration shaped its ending: rather than collapsing, its client accounts were transferred to another registered platform under regulatory oversight. Its successor chain: Bitvo clients to Bitbuy (November 2023), Bitbuy's parent WonderFi to Robinhood (2025). Former Bitvo customers with account questions should contact Bitbuy support.
BitMEX initially restricted only Ontario and Québec, but as of late 2023 its Restricted Jurisdiction Policy lists all of Canada as restricted. Its US legal troubles have concluded with guilty pleas, a $100 million fine and subsequent presidential pardons for the founders. There is no indication BitMEX intends to register with Canadian regulators or return to the Canadian market.
Bitvo was registered with FINTRAC and as a restricted dealer with Canadian securities regulators, and that registration shaped its ending: rather than collapsing, its client accounts were transferred to another registered platform under regulatory oversight. Its successor chain: Bitvo clients to Bitbuy (November 2023), Bitbuy's parent WonderFi to Robinhood (June 2026, C$250M acquisition). Former Bitvo customers with account questions should contact Bitbuy/Robinhood support.
BitMEX initially restricted only Ontario and Québec, but as of late 2023 its Restricted Jurisdiction Policy lists all of Canada as restricted. Its US legal troubles have concluded with guilty pleas, a $100 million fine and subsequent presidential pardons for the founders. There is no indication BitMEX intends to register with Canadian regulators or return to the Canadian market.
Bitvo was registered with FINTRAC and the CSA, enabling an orderly wind-down with no customer funds lost; its successor chain ends with Bitbuy/Robinhood. BitMEX lists all of Canada as a restricted jurisdiction and is not registered with Canadian securities regulators.
Customer support
There is no Bitvo support team anymore. Former customers should reach out to Bitbuy, which assumed servicing of migrated accounts. If anyone contacts you offering to recover Bitvo funds for a fee, treat it as a recovery scam.
BitMEX offers support via a contact form on its website and has a detailed FAQ section. For Canadians this is academic, since the platform is off-limits entirely.
There is no Bitvo support team anymore. Former customers should reach out to Bitbuy/Robinhood, which assumed servicing of migrated accounts. If anyone contacts you offering to recover Bitvo funds for a fee, treat it as a recovery scam.
BitMEX offers support via a contact form on its website and has a detailed FAQ section. For Canadians this is academic, since the platform is off-limits entirely.
Neither platform has relevant ongoing support for Canadians. Bitvo support now routes through Bitbuy/Robinhood; BitMEX's support is academic for Canadian users.
Conclusion
Neither Bitvo nor BitMEX is available to Canadians — for different reasons. Bitvo wound down in November 2023 with client accounts migrated to Bitbuy, which is now owned by Robinhood following the June 2026 WonderFi acquisition. BitMEX has listed all of Canada as a restricted jurisdiction since late 2023.
If you were a Bitvo customer with outstanding account questions, contact Bitbuy/Robinhood support. Historical transaction records for tax purposes are available through Bitbuy support. Bitbuy itself is now under Robinhood ownership; read any migration communications carefully before accepting new terms.
For Canadians looking for well-regulated alternatives, we recommend Bitbuy (Canada's longest-standing registered marketplace, now under Robinhood/CIRO oversight), Kraken (200+ coins, nationally registered restricted dealer since April 2025), or NDAX (60+ coins, CIRO investment dealer with a flat 0.2% fee). See our full list of the best crypto exchanges in Canada for more options.
