[Exchanges](https://revain.org/exchanges/) › Toobit

# 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

## 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](https://www.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). [↗](https://web.archive.org/web/20260901074043/https://www.toobit.com/support/toobit-terms-of-use)
- 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. [↗](https://msb.fincen.gov/)
- Non-EU disputes are governed by Cayman Islands law and resolved by SIAC arbitration seated in Singapore. [↗](https://web.archive.org/web/20260901074043/https://www.toobit.com/support/toobit-terms-of-use)
- 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. [↗](https://web.archive.org/web/20260901074043/https://www.toobit.com/support/toobit-terms-of-use)
- Toobit says it does not act as the direct counterparty to trades on its platform. [↗](https://web.archive.org/web/20261020073919/https://www.toobit.com/support/risk-compliance-disclosure)

## 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)](https://msb.fincen.gov/) |
| United States | Hopeful Technology Co. Ltd. | Company statement: MSB registration number 31000318247716 | [FinCEN](https://web.archive.org/web/20261020073919/https://www.toobit.com/support/risk-compliance-disclosure) |
| 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](https://web.archive.org/web/20260901074258/https://www.toobit.com/en-US/about-us) |

## 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](https://api.llama.fi/hacks), [hacked.slowmist.io/search](https://hacked.slowmist.io/search/), [rekt.news/leaderboard](https://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](https://www.toobit.com/)
- Terms of use: [www.toobit.com/support/toobit-terms-of-use](https://www.toobit.com/support/toobit-terms-of-use)
- Risk disclosure: [www.toobit.com/support/risk-compliance-disclosure](https://www.toobit.com/support/risk-compliance-disclosure)
- Proof of reserves: [www.toobit.com/en-US/proof-of-reserves](https://www.toobit.com/en-US/proof-of-reserves)
- Security: [www.toobit.com/en-US/safety](https://www.toobit.com/en-US/safety)
- Bug bounty: [hackenproof.com/toobit/toobit-web-and-mobile](https://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)](https://web.archive.org/web/20260901074043/https://www.toobit.com/support/toobit-terms-of-use)
- [Toobit - Risk & Compliance Disclosure (archived 20 October 2026)](https://web.archive.org/web/20261020073919/https://www.toobit.com/support/risk-compliance-disclosure)
- [Toobit - About us (archived 1 September 2026)](https://web.archive.org/web/20260901074258/https://www.toobit.com/en-US/about-us)
- [Toobit - Proof of Reserves (archived 20 October 2026)](https://web.archive.org/web/20261020073919/https://www.toobit.com/en-US/proof-of-reserves)
- [Toobit - Third anniversary page (archived 1 September 2026)](https://web.archive.org/web/20260901074042/https://www.toobit.com/en-US/activity/third-anniversary)
- [FinCEN - MSB Registrant Search (Hopeful Technology Co., Ltd.)](https://msb.fincen.gov/)

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Page updated: 2026-10-31

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Source: https://revain.org/exchanges/toobit/