Ourbit

The project, according to unverified data, was founded in 2017; the actual launch under BVI registration occurred in 2020. The operating company is Ourbit Global Ltd. The parent entity is Ourbit Holdings Ltd., registered at the same address. There is no public information about external investments, round sizes, or valuations. Key milestones include: launch of Proof of Reserves based on a Merkle tree (March 2025), mandatory KYC for all users (early 2024), implementation of MPC protocols for hot wallets (March 2024), launch of the institutional custodial service Ourbit Custody (September 2024), and the introduction of the professional interface Ourbit Pro (February 2025). The exchange actively lists new tokens through the "Innovation Zone" - hundreds of pairs on Ethereum , BSC , and Solana with specified trading start times. Regulation and Licenses The exchange holds an MSB (Money Services Business) registration with FinCEN (USA) under number 31000251786526 (obtained in August 2023) and is registered with FINTRAC (Canada) as an FMSB (number M23568912). It does not hold licenses from NYDFS (BitLicense), FCA (UK), MAS (Singapore), or SFC (Hong Kong). Since late 2025, it has been in the process of obtaining a VASP license from VARA Dubai (provisional status as of mid-2026). In Q4 2024, South Korea blocked the exchange's IP for providing services to residents without local registration. On July 1, 2025, the Arkansas Securities Department issued a cease and desist order (Case No. C-24-0055 ORDER No. C-24-0055-25-OR01) against Ourbit Holdings LTD: the regulator determined that the exchange does not have a license under the Arkansas Uniform Money Services Act (AUMSA) and could not be located at the stated BVI address. The order requires cessation of the AUMSA violation. Since 2025, the exchange has been part of the CODE Travel Rule Alliance for sharing sender/receiver information. KYC: mandatory since early 2024; Tier 1 - identity document and biometrics (withdrawal limit 50 BTC per day), Tier 2 - proof of address (100 BTC). AML monitoring - Chainalysis. Restricted jurisdictions: USA (retail trading, despite MSB), mainland China, Singapore, North Korea, Iran, Syria, Cuba, Crimea, and territories not controlled by the Ukrainian government (DPR/LPR). In January 2025, the exchange delisted Monero ( XMR ) and Dash ( DASH ) to comply with the FATF Travel Rule. Products and Fees Spot trading with hundreds of pairs, USDT-margined perpetual futures (USDT‑M Perpetual Futures) with adjustable risk limits and leverage (up to 500x according to marketing claims; in practice, stricter levels for BTCUSDT), copy trading (futures with commission sharing for strategies, guide date June 2025), yield products (Simple Earn, Flexible Savings, Fixed Earn, periodic bonus campaigns such as USDT Earn Carnival with mandatory KYC), and "Grand Listing: Community Pledge" - campaigns with a USDT pool activated upon meeting a listing threshold (ALT in April-May 2026, DRGX in June-July 2026). There is also an NFT section (within the Event Center) and claimed tokenized TradFi instruments (spot and futures on stocks/ETFs/commodities/forex with zero fees during campaigns). There is no native exchange token. A REST API with HMAC-SHA256 signature, WebSocket (up to 30 channels per connection), and documentation with SDKs (Python, .NET, Java, JS, Go) are available. Fee structure: maker 0.02% , taker 0.04% . A VIP program with cashback and higher limits is active, including a "Free VIP experience" for users with verified status on other exchanges. Fiat funding is via third-party card processors ("Buy Crypto" page); there is no proprietary P2P service. Volume and Liquidity 24-hour spot volume: $433.05M . Trust Score: 8 (rank 27 ). According to data summaries, derivatives dominate the volume; the exchange competes in the Asia-Pacific and CIS segments, occasionally ranking in the top 30 by derivatives volume. The platform has avoided major liquidity crises or bank runs. Security and Incidents Architecture: cold wallets, 2FA, anti-phishing code, mandatory entry of the last 4 digits of the address for withdrawals. In March 2024, withdrawals were suspended for 4 hours due to a planned update of the hot wallet architecture and the implementation of MPC (multi-party computation); user funds were not affected. Partnerships with Hacken and SlowMist (audits and penetration testing) are claimed, but reports are not published on the site. Proof of Reserves (PoR): monthly since March 2025; users can download data and verify inclusion via a Merkle tree with an open verifier. Reserves: $92.06M (as of snapshot date). The June 2026 report claims ratios of 102% BTC, 105% ETH, 101% USDT; no third-party auditor ("Big Four") is specified. A Futures Insurance Fund exists for derivatives, but its size is undisclosed. An external portal for law enforcement (LEORS) and a form for reporting suspicious funds (requires KYC) are available. No hacks or exploits have been recorded in public sources. Anecdotal complaints about 90-day withdrawal freezes ("risk control") appear on Trustpilot and Reddit but are not confirmed by official post-mortems. Associated Individuals No publicly verified founders, CEO, CTO, or other executives with biographies and previous companies have been identified. The only mention is HR employee Eve Dong (education: Southwest Jiaotong University). Aggregators describe the team as "former founders of certain top platforms," attributing connections to projects like SPX6900, HarryPotterObamaSonic10Inu, and RETARDIO, but specific names are not disclosed. Potential Product expansion: in May 2025, a Chief Compliance Officer with experience in traditional European banking was appointed to prepare for MiCA; in October 2025, structured products (dual-investment, range-bound) were launched. Institutional services (Ourbit Custody with isolated cold wallets and insurance coverage, Ourbit Pro) may attract professional traders. Progress on the VARA application in Dubai and potential license acquisition could open access to the MENA region. High listing speed (including "Grand Listing" campaigns via a USDT pool) and a focus on memecoins provide a short-term influx of trading activity. Risks [Identified by Finkonkurs AI Analytics System] Regulatory uncertainty: cease and desist order from Arkansas (2025) without visible resolution; lack of licenses in key jurisdictions (USA for retail, UK, Singapore, Hong Kong). Blocking in South Korea (2024) indicates vulnerability when scaling without local regulation. Lack of a public insurance fund and "Big Four" audit of PoR reduces trust in reserves. Unverified complaints about withdrawal freezes and prolonged checks (risk control). Reliance on offshore registration (BVI) without disclosure of beneficiaries increases regulatory risks. Absence of a native token limits loyalty and liquidity tools. High dependence on derivatives volume (sensitivity to market volatility).