Account deleted after verification and several transactions.
I had a very disappointing experience with this exchange.
I opened an account with Bitnet because the company operates under a Georgian license, and I am a resident of Georgia. I completed the verification process using my Georgian residence permit, which was accepted by the platform. After verification, I successfully completed several exchanges.
Shortly afterward, the option to exchange crypto to fiat suddenly disappeared from my account. I contacted support and asked for clarification. For several days they were unable to explain the reason.
On March 9, 2026, I finally received a response stating that because I hold Russian citizenship, they could not allow further exchanges due to their “internal policy”. This was surprising because my Georgian residence permit had already been accepted during verification and multiple transactions had already been processed.
I asked the support agent why I had not been informed about this policy earlier and why my account had been approved in the first place if such restrictions existed. The agent said they would check internally.
A few minutes later I was suddenly logged out of my account and received a message saying that my account had been deleted.
For a financial service handling user funds, this level of communication and transparency is extremely concerning. If such restrictions exist, they should be clearly communicated during the verification process.
Based on my experience, I would advise others not to use this exchange.
