Company Information

Get to know Coinbit

Founded in 2018, Coinbit quickly grew to become one of South Korea's largest cryptocurrency exchanges by reported trading volume. The platform provided spot trading services for numerous cryptocurrencies against the Korean Won (KRW) and other major digital assets. However, the company faced significant legal and regulatory challenges, including accusations of massive-scale market manipulation. Following a regulatory crackdown by South Korean financial authorities in 2021, which required all domestic exchanges to secure real-name bank partnerships and obtain Information Security Management System (ISMS) certification, Coinbit failed to meet the requirements and subsequently announced the termination of all its services in early 2022.

Industry

Crypto ExchangePRIMARY
Financial Wealth Management

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Coinbit

South Korea

Founded in

11 May 2018 (8 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

Licenses

--/40

Reviews

--/60

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FTD LIMITED

(505 reviews)

British Virgin Islands

2017

(9 years)

Security Information :

BVI FSC

Security Information

Warning

This company is currently Unproved.

Please be cautious of the potential risks!

License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.