Company Information

Get to know Youbit

Youbit, operated by the company Yapian Corp., was a digital asset trading platform based in South Korea. It was one of the smaller exchanges in the country's burgeoning cryptocurrency market. The company's history is primarily defined by two significant security breaches in 2017. Following a second devastating hack in December 2017, which resulted in the loss of 17% of its total assets, Youbit immediately halted trading and filed for bankruptcy, effectively closing the business.

Industry

Crypto ExchangePRIMARY
Financial Other Service

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Youbit

South Korea

Founded in

2013 (13 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.