Data from Sensor Tower shows that cryptocurrency exchanges Bybit, Bitget, and OKX had nearly a million "monthly active users" (MAUs) in the U.S. in August, despite these exchanges prohibiting U.S. traders. However, being "active" does not necessarily mean trading, so it is uncertain if any of these U.S. users were actually engaging in prohibited behavior. By using VPNs, Americans can bypass geoblocks and access these exchanges, similar to what led to Binance being fined $4 billion last year. Traders determined to get around restrictions have been known to obtain fake or stolen credentials. Bybit had the largest number of MAUs in the U.S., followed by Bitget and OKX. The exchanges have implemented measures such as KYC procedures and IP address bans to restrict access from prohibited jurisdictions.



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