Bybit Warns Brazilian Business Accounts: Verify Now or Risk Forced Liquidations

What Bybit is asking (and what happens if you ignore it)

Short version: if you got a request to update your business verification and you’re based in Brazil, finish it. Bybit started sending these requests on August 1 and individual account holders who received a notice have until the deadline in that message — generally August 21 — to comply. The exchange hasn’t said how many accounts are affected, nor did it give an exact hour when the deadline expires.

If you don’t comply by the specified deadline, your account will be put under restriction. That means you won’t be able to open new positions, add to existing ones, or access most products and services on the platform. Two narrow exceptions: you should still be able to withdraw crypto and use the Convert tool, but expect limits and caveats.

There’s a second, harsher phase that starts later. On September 21, any remaining positions in products that are restricted for noncompliant accounts may be forcibly liquidated at market price. Unsupported fiat balances that you haven’t converted yourself may automatically get converted to USDT, and noncompliant coupons or bonuses could be forfeited. The notice didn’t list which products are considered “restricted” or which fiat currencies are deemed “unsupported,” so there’s some mystery there — and you don’t want to be the experiment.

Important dates & survival tips

Here’s the timeline that matters: verification requests began arriving August 1. Most recipients have until August 21 to finish their updates. If you ignore that, your account enters restricted mode. Then on September 21 the forced actions — liquidations, conversions, and forfeitures — kick in. Separately, there’s a planned migration on September 24 that moves eligible, compliant Brazilian users into Bybit’s Brazil-based entity; after that, main accounts become Standard Accounts restricted to products approved locally and fiat services will only support the Brazilian real (BRL).

If you want to avoid heartbreak and surprise sells, do these things: finish the verification that was requested before your personalized deadline, review any open positions and decide whether to close or convert them ahead of the enforcement date, and convert any unusual fiat balances you hold into something supported (USDT is what the platform will default to after the deadline). If you’re a Brazilian national living abroad, you may be excluded from the migration if you can prove a valid foreign address — so keep that paperwork handy.

Also, remember that these changes are driven by Brazil’s updated regulatory framework for virtual-asset service providers, which imposes authorization, supervision, customer protections, governance and anti-money‑laundering rules. The platform says it’s aligning with local requirements, but the notice did not spell out the Brazil-based entity’s specific authorization status.

Bottom line: don’t treat this like a “I’ll get to it later” email. If you run a business account in Brazil and you received a verification request, finish it ASAP — or you may wake up to forced liquidations, converted balances, and vanished bonuses. Not a great Monday morning surprise.