WikiBit Exchange Exit Risk Ranking Issue #8 — Azbit: Backed by Roger Ver, Publicly Called Out by Seychelles FSA — An Offshore Casino Riding on a “Celebrity Endorsement”
Introduction: An Exchange That “Lives More in Legends Than Reality” In previous episodes, we investigated HashKey (the compliance role model), HTX (the sanctions hotspot), UZX (the DAO penny stock), Phemex (the Wall Street elite team), Tapbit (the MSB license sticker king), Coincheck (Japan‘s survivor), Deepcoin (El Salvador’s new regulatory disguise), and Upbit (South Koreas national exchange). Todays subject is another “offshore registration specialist” — Azbit. Its resume looks surprisingly impressive:“Bitcoin.com founder Roger Ver serves as an advisor”“Founded in 2018, headquartered in Estonia”“Listed more than 400 projects”“Offers spot trading, margin trading, futures, staking, savings, IEO, and other one-stop crypto services” Sounds like a full-featured major exchange, right? But on the other side of the story — this offshore exchange, whose corporate entity is registered in Seychelles, was publicly warned by the Seychelles Financial Services Authority (FSA) on August 7, 2026. The regulator stated that Azbit:“has never obtained any authorization”the company was in “not good standing” due to failure to pay annual fees Meanwhile, after years of operation, Azbit has accumulated negative reports involving withdrawal disputes, promotional traps, and regulatory uncertainty. So how did an exchange endorsed by the “Bitcoin Jesus” become the target of a public regulatory warning? Today, we will break it down layer by layer.1. Regulatory Compliance: Seychelles