Toobit: licences, security, fees and reviews
Centralized exchange
In short
- Legal entity
- Hopeful Technology Co. Ltd., incorporated in the Cayman Islands
- Risks and caveats
- The account is not a bank account and assets are not insured by any government authority.
- Checked
- 31 October 2026
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Key facts
- Type
- Centralized exchange
- Country of registration
- Cayman Islands
- Operator
- Hopeful Technology Co. Ltd. (Cayman Islands); Elyndret Sp. z o.o. (Poland) for EU/EEA users
- Official site
- toobit.com
Key facts checked on 31 October 2026 against official sources and regulator registers.
What is Toobit
Toobit is a centralised cryptocurrency exchange offering spot trading, USDT- and USDC-margined perpetual futures with up to 200x leverage, copy trading and earn products. It is operated by Hopeful Technology Co. Ltd. (Cayman Islands), with a Polish company serving EU and EEA users.
Good to know
- EU/EEA residents contract with Elyndret Sp. z o.o. (Poland); all other users contract with Hopeful Technology Co. Ltd. (Cayman Islands). ↗
- Toobit calls its US MSB status a 'financial license'. A FinCEN MSB registration is a federal anti-money-laundering registration; FinCEN states that listing is not an endorsement. ↗
- Non-EU disputes are governed by Cayman Islands law and resolved by SIAC arbitration seated in Singapore. ↗
- The Terms list restricted countries including Hong Kong, Nigeria, the Philippines, South Africa, Türkiye, Bulgaria and Croatia; the US and Canada are not on that list. ↗
- Toobit says it does not act as the direct counterparty to trades on its platform. ↗
Services
| Parameter | Details |
|---|---|
| Spot trading | Over 1,000 trading pairs |
| Derivatives | USDT-M and USDC-M perpetual futures, up to 200x leverage |
| Copy trading | Yes |
| Staking / Earn | Earn products |
Licences and registrations
| Jurisdiction | Entity | Licence / registration | Regulator |
|---|---|---|---|
| United States | Hopeful Technology Co., Ltd. (Cayman Islands address) | Money services business registration with FinCEN (federal AML registration, not a licence); registration received 17 December 2025 | Financial Crimes Enforcement Network (FinCEN) |
| United States | Hopeful Technology Co. Ltd. | Company statement: MSB registration number 31000318247716 | FinCEN |
| Poland (EU) | Elyndret Sp. z o.o. | Company statement: Polish VASP registration ('PL VASP'); register entry not checked | — |
| Canada | — | Company statement: 'CA MSB' badge only; FINTRAC register entry not checked | FINTRAC |
Security and audits
- Multi-signature cold storage and a zero-trust architecture (company statement).
- ISO/IEC 27001:2022 certified infrastructure (company statement).
- USD 50 million Toobit Shield Fund and a Fireblocks partnership for asset protection.
- Independent audits including Hacken; a public bug bounty runs on HackenProof.
Security incidents
No security incident is recorded in the incident databases checked on 31 October 2026 (the company’s own channels are not among the sources checked): api.llama.fi/hacks, hacked.slowmist.io/search, rekt.news/leaderboard
Fees
| Parameter | Details |
|---|
Who can use it
- Verification: Accounts are for individuals over 18 or institutions via authorised representatives; one trading account per user.
- Not offered in North Korea, Myanmar, Bulgaria, Croatia, Nigeria, the Philippines, South Africa, Türkiye, Hong Kong, Uzbekistan, Russian-controlled regions of Ukraine and other FATF/OFAC high-risk jurisdictions.
History
| Date | Event |
|---|---|
| December | Toobit launched in December (year not stated on the page) |
| 1 July 2024 | Current Terms of Use took effect |
| 17 December 2025 | Hopeful Technology Co., Ltd. registration received by FinCEN as a money services business |
Risks and caveats
- The account is not a bank account and assets are not insured by any government authority.
- The company holds full custody of user assets.
- If the insurance fund is depleted, profitable positions may be auto-deleveraged.
- The US 'licence' claim is an MSB registration, which FinCEN says is not an endorsement.
About the company
- Legal entity
- Hopeful Technology Co. Ltd., incorporated in the Cayman Islands
- Legal entity
- Elyndret Sp. z o.o., incorporated in Poland (EU/EEA users)
- Headquarters
- Address on FinCEN record: Genesis Building, 5th Floor, Genesis Close, Cayman Islands KY1-1106
Official links
- Website: www.toobit.com
- Terms of use: www.toobit.com/support/toobit-terms-of-use
- Risk disclosure: www.toobit.com/support/risk-compliance-disclosure
- Proof of reserves: www.toobit.com/en-US/proof-of-reserves
- Security: www.toobit.com/en-US/safety
- Bug bounty: hackenproof.com/toobit/toobit-web-and-mobile
Questions and answers
Is Toobit regulated?
Its operator Hopeful Technology Co., Ltd. is registered with FinCEN as a US money services business (received 17 December 2025); Toobit also states it holds a Polish VASP registration.
Who owns Toobit?
Toobit is operated by Hopeful Technology Co. Ltd. (Cayman Islands); EU/EEA users contract with Elyndret Sp. z o.o. (Poland).
Does Toobit publish proof of reserves?
Yes. Toobit publishes a Merkle-tree proof of reserves that users can self-verify, and says audits are monthly.
Are assets on Toobit insured?
No. The Terms say the account is not a bank account and assets are not insured by any government authority.
Sources
- Toobit - Terms of Use (archived 1 September 2026)
- Toobit - Risk & Compliance Disclosure (archived 20 October 2026)
- Toobit - About us (archived 1 September 2026)
- Toobit - Proof of Reserves (archived 20 October 2026)
- Toobit - Third anniversary page (archived 1 September 2026)
- FinCEN - MSB Registrant Search (Hopeful Technology Co., Ltd.)
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