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Overbit

Overbit was a margin trading platform for Bitcoin, forex and commodities, with leverage up to 100x on cryptocurrencies. It suspended all activity in November 2023 and today its site is no longer reachable: the platform is no longer operational.

Riccardo CuratoloBy Riccardo Curatolo 2 min read How we work
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Service no longer operating. On 2 November 2023 Overbit suspended all activity, citing regulatory tightening and market conditions, and invited users to request the withdrawal of their funds through a dedicated form (Webopedia). Today the website is no longer reachable and there are no active channels for requesting the recovery of funds. Updated 26 October 2026.

What Overbit is

Overbit was a margin trading platform registered in the Seychelles with offices in Singapore, founded by Chieh Liu. It offered cryptocurrency derivatives (leverage up to 100x), forex (up to 500x) and commodities, with a "Tier Points" loyalty programme. It is no longer operational: the platform suspended all activity on 2 November 2023, citing regulatory tightening and market conditions, inviting users to request withdrawal of their funds through a dedicated form. As of September 2026 the site www.overbit.com is no longer reachable (direct check by the editorial team) and the company's contact details, starting with the Singapore address and the support email, can no longer be verified.

Regulation and licences

(Verified: September 2026)

  • MiCA: NO — Overbit does not appear in the ESMA register of authorised CASPs (Verified: October 2026); the question is moot in any case given the 2023 closure.
  • The platform operated from an offshore jurisdiction (Seychelles) without European licences: the type of operator that the MiCA regime, fully in force since 1 July 2026, has effectively excluded from the EU market.
  • There is today no legitimate way to use Overbit; any active sites using this name are not the original platform and should be treated with the utmost caution.

Security

There are no documented hacks or breaches of customer funds during its operation. The November 2023 closure was presented as an orderly suspension with the possibility of withdrawing funds on request; no final account of the repayments is public.

Alternatives

For those looking for crypto derivatives with an EU-authorised operator:

  • Bybit — MiCA via Austria, strong on derivatives
  • Kraken — MiCA via Ireland
  • OKX — MiCA via Malta

FAQ

Does Overbit still exist? No: it suspended all activity on 2 November 2023 and as of October 2026 the site is no longer reachable (Verified: October 2026).

How do I recover any funds left on Overbit? At the time of closure the company had set up a withdrawal request form. With the site offline and the contact details no longer verifiable, there are no active channels for requesting the recovery of funds (Verified: October 2026).

Verified sources

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