YieldHow safe is LBank,
really?
Instead of a vague 'trusted' badge, we grade LBank on five concrete, checkable criteria — each with sources. Here's exactly how it scores.
Criterion by criterion, with sources
- ✗
Regulation
No licence from a financial regulator. LBK Exchange Limited is registered as a money services business with FinCEN (US, 31000328501557) and FINTRAC (Canada, M22603388) — anti-money-laundering registrations, not a licence to hold client funds — and LBank does not serve US or Canadian residents. Japan's FSA warned LBank in June 2024 for operating a crypto exchange without registration. The user agreement is governed by the laws of the British Virgin Islands. Source 1 → Source 2 → Source 3 →
- ✗
Proof-of-Reserves
LBank announced a Merkle-tree proof of reserves in November 2022, and a February 2024 support article lists two wallet addresses. We found no published report with reserve figures or coverage ratios. Source 1 → Source 2 →
- ✓
Flexible withdrawal
Spot Earn is flexible: redeem at any time, interest calculated daily. The only pause is a daily 30-minute settlement window when positions cannot be exited. Source →
- ✗
Insurance Fund
No protection fund covering hacks or loss of client funds found. LBank's loss-compensation programmes, including a $100M fund, cover futures trading losses from price spikes — not assets held in custody. Source 1 → Source 2 →
- ✓
Track record (2+ years incident-free)
Operating since 2015. We found no confirmed hack or loss of client funds: a "2023 hot-wallet breach" repeated by some review sites cites no primary source, and we found none. The 2024 warning from Japan's FSA is counted under regulation. Source →
Incidents we count
Known incidents
1- June 2024 Japan's FSA warned LBank for operating a crypto-asset exchange without registration. Source →
Current earn rates on LBank
| Asset | Rate | Type |
|---|---|---|
| TRX | 9.0 % | flexible |
| USDD | 5.0 % | flexible |
| USDC | 3.1 % | flexible |
| SOL | 3.0 % | flexible |
| GRAM | 3.0 % | flexible |