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Toobit

Not licensedNo EU authorizationESMA register

Toobit Ltd

Exchange🇰🇾 Cayman Islands Founded 2022toobit.com
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Last reviewed
2026-08-01

Compliance snapshot

  • No EU, UK or tier-one exchange authorization disclosed
  • Cayman parent; derivatives account for most reported volume
  • Trustpilot 3.0/5 · 410 reviews
  • Operating history shorter than four years
Overall concern
High concern

Recently launched offshore venue with only light registrations, no EU authorization and limited public disclosure of entity structure or reserves.

Regulatory

Licenses & registrations

  • 🇰🇾 Cayman Islands
    Not licensed
    Company registration (no financial services licence)
    Cayman Islands Monetary AuthorityCIMA
    KY-3981122022-03-08
    Verify at source
  • 🇺🇸 United States
    Registered
    MSB registration
    Financial Crimes Enforcement NetworkFinCEN
    31000-2306-11872023-06-14
    Verify at source
User signals

Reputation

Trustpilot-style score
3.0/ 5
3.0
410 reviews
Stable (12m)
App ratings
App Store
4.1
Google Play
3.7
Press sentiment (12m)
Positive2
Neutral4
Negative4
Media

Recent press

  • 2026-06-20
    Toobit expands perpetual contract rangeNeutral

    CoinDesk — New contract pairs were added for mid-cap assets.

  • 2026-03-31
    Newer venues struggle for banking partnersNegative

    Reuters — Fiat access remained constrained for recently launched operators.

  • 2025-12-18
    Exchange publishes first reserve snapshotNeutral

    Bloomberg — A self-reported wallet snapshot covered four assets.

  • 2025-09-04
    Supervisors widen warning listsNegative

    Financial Times — Several newer venues were named for soliciting EU residents.

  • 2025-05-15
    Toobit adds launchpad productNeutral

    CoinDesk — A token-sale feature was introduced for retail users.

History

Incidents & enforcement

  1. 2025-09-04Enforcement

    Named on a national supervisory warning list for providing services without authorization.

  2. 2024-11-02Outage

    Trading engine unavailable for around two hours during a scheduled upgrade.