Updated Rules checked 2026-10-19
There’s no one-line answer to whether LBank is safe; what you can look at is the record it has left. I found no reports in LBank’s official announcements or in major media of LBank being hacked or of user assets being stolen, and LBank itself says it has kept a record of zero security incidents for nearly ten years. On the other hand, it currently publishes no regular proof of reserves (PoR), and Japan’s Financial Services Agency, Canada’s Ontario Securities Commission and the Philippine Securities and Exchange Commission have all issued warnings about it operating without registration.
On fees, regular LBank users (VIP 0) pay 0.1% as both Maker and Taker on spot, and 0.02% Maker and 0.06% Taker on USDT-margined perpetual futures, which is roughly in line with most exchanges; withdrawing USDT over BEP20 costs just 0.2 USDT. LBank was founded in 2015, says it has more than 25 million registered users, focuses on fast meme coin listings, and offers futures leverage of up to 200x and beyond.
This article gives no star rating. It simply collects the company background, fees, deposits and withdrawals, KYC, reserves, security and regulatory record, restricted regions, products and customer support in one place, with a source for every number. For the full fee schedule, see LBank fees explained; for the identity verification steps, see LBank KYC guide.
Key points: LBank’s website states that it was founded in 2015 and says it has more than 25 million registered users in over 160 countries and regions. At VIP 0, spot Maker and Taker are 0.1% each, and USDT-margined futures are 0.02% Maker and 0.06% Taker; the futures Taker fee only drops to 0.04% at VIP 2, and one of the VIP 2 thresholds is a 30-day average balance of 50,000 USDT. LBank charges nothing for deposits, and USDT withdrawal fees range from 0.2 USDT on BEP20 and Plasma to 1.5 USDT on TRC20 (official API, 2026-10-19). On 2022-11-09 LBank announced it would publish a verifiable Merkle tree proof of reserves; as of 2026-10-19 I could not find a PoR page on its website that lists a reserve ratio. Japan’s Financial Services Agency (2024-06-14) and the Ontario Securities Commission (2025-08-27) have both issued unregistered-business warnings about LBank, and LBank’s user agreement lists 28 regions where it does not offer services, including the United States, Canada, mainland China and Hong Kong.
The information below was checked against official pages on 2026-10-19 (the fact-check date) and is provided for reference.
Where is LBank based, and when was it founded?
The LBank About Us page states that LBank was founded in 2015 and has more than 25 million registered users across over 160 countries and regions, with daily trading volume of about USD 10.5 billion. These are all figures published by LBank itself. The website does not say where its headquarters or registered company is; there are three pieces of information to cross-check:
- On the Taiwan Apple App Store, the developer is listed as LBANK EXCHANGE UAB (App Store page); UAB is a Lithuanian company form.
- The LBank user service agreement states that the rights to the LBank name, trademarks and logos belong to LBK Exchange.
- Most LBank press releases give Singapore as the dateline, for example the 2025-07-28 announcement of its partnership with CertiK (LBank announcement).
One set of numbers is worth comparing: LBank’s 2025-03-12 press release said “15 million users in over 210 countries and regions” (LBank risk protection fund announcement), while the current About Us page says “25 million users in over 160 countries and regions.” The user count went up while the number of regions served went down. LBank has not explained why; read it alongside the restricted-regions lists below.
What are LBank’s fees?
LBank’s VIP levels depend on three criteria: 30-day spot volume, 30-day futures volume and 30-day average asset balance. The official interface lists the three criteria separately, each with wording such as “Meet the 30-day spot trading volume requirement to become a VIP,” so it appears that meeting any one of them is enough to move up. The table below shows the standard rates from the official VIP fee page:
| Level | 30-day spot volume (USDT) | 30-day futures volume (USDT) | 30-day average assets (USDT) | Spot Maker / Taker | Futures Maker / Taker |
|---|---|---|---|---|---|
| VIP 0 | — | — | — | 0.1% / 0.1% | 0.02% / 0.06% |
| VIP 1 | 500,000 | 5,000,000 | 10,000 | 0.08% / 0.08% | 0.019% / 0.06% |
| VIP 2 | 2,000,000 | 10,000,000 | 50,000 | 0.065% / 0.07% | 0.016% / 0.04% |
| VIP 3 | 8,000,000 | 20,000,000 | 250,000 | 0.05% / 0.06% | 0.014% / 0.0375% |
| VIP 4 | 30,000,000 | 50,000,000 | 750,000 | 0.04% / 0.05% | 0.012% / 0.035% |
| VIP 5 | 50,000,000 | 100,000,000 | 2,000,000 | 0.03% / 0.04% | 0.01% / 0.032% |
| VIP 6 | 75,000,000 | 300,000,000 | 5,000,000 | 0.02% / 0.035% | 0.008% / 0.03% |
| SVIP | 100,000,000 | 1,000,000,000 | 10,000,000 | 0% / 0.03% | 0% / 0.02% |
Source: LBank VIP page and LBank fee rate page, checked 2026-10-19. LBank notes that these rates may not apply to some coins during certain periods, and the LBank spot and futures trading rules give the spot fee as a range of 0.1%–0.2%, so go by what the order page shows. The official fee page lists no discount for paying fees with a platform token.
In actual amounts: buying 10,000 USDT of spot at VIP 0 costs 10 USDT. Futures fees are calculated on position value and have nothing to do with the leverage multiple (LBank futures fee explanation). Opening a 10x position with 1,000 USDT of margin gives a 10,000 USDT position, so opening and closing as Taker costs 10,000 × 0.06% × 2 = 12 USDT, or 1.2% of the margin. Trading 1 million USDT of futures a month, all as Taker, costs 600 USDT on LBank, the same tier as Bitget, KuCoin and XT; Binance and OKX charge 500 USDT and MEXC 200 USDT (each exchange’s rates are in lowest-fee crypto exchanges).
Note that the futures Taker fee at VIP 1 is still 0.06%; only the Maker fee drops, from 0.02% to 0.019%. To get the futures Taker fee down to 0.04% you need VIP 2, which requires 10 million USDT of 30-day futures volume, 2 million USDT of spot volume, or a 30-day average balance of 50,000 USDT. Judging by the asset threshold, keeping 50,000 USDT in your account over time is easier than trading 10 million in futures every month. To calculate trading fees and funding fees together, use the perpetual futures cost calculator.
How often does LBank charge funding fees, and what’s the maximum leverage?
LBank’s funding settlement interval varies by contract. On 2026-10-19 I counted them with the LBank futures public API: of 842 USDT perpetual contracts, 480 settle every 4 hours, 360 every 8 hours and 2 every hour. BTCUSDT settles every 8 hours; its funding rate at the time was 0.01%, so a 10,000 USDT position paid or received about 1 USDT per settlement. On 2023-10-12 LBank moved some contracts to 1-hour or 4-hour settlement, and said that it would in principle announce such changes two weeks in advance (LBank funding interval adjustment announcement).
Leverage caps are also set contract by contract. According to the LBank contract list API, BTCUSDT and ETHUSDT go up to 200x, SOLUSDT to 100x, GOLDUSDT and XAUTUSDT to 500x, and most contracts (507) to 50x. When you use leverage and the market moves against you, your position may be liquidated and you can lose all of your margin. For how funding is calculated, see what the funding rate is; you can estimate your liquidation price with the liquidation price calculator, and the order process is in the LBank futures guide.
What does LBank charge for deposits and withdrawals?
Deposits are free: the LBank deposit guide states that LBank charges no deposit fee and that the on-chain fee is paid by the sending side. Withdrawals carry a fixed fee per network. The table below shows the fee and minimum withdrawal for each USDT network:
| Network | Withdrawal fee (USDT) | Minimum withdrawal (USDT) | Status |
|---|---|---|---|
| BEP20 (BSC) | 0.2 | 2 | Available |
| Plasma | 0.2 | 1 | Available |
| Arbitrum One | 0.5 | 5 | Available |
| Solana | 0.5 | 10 | Available |
| ERC20 | 1 | 5 | Available |
| Polygon | 1 | 5 | Available |
| TON | 1 | 1 | Available |
| NEAR | 1 | 5 | Available |
| Kaia (API name klay) | 1 | 5 | Available |
| TRC20 | 1.5 | 5 | Available |
| Avalanche C-Chain, Omni | — | — | Withdrawals suspended |
Source: LBank withdrawal configuration API, queried 2026-10-19. Fees change, so go by what the withdrawal page shows.
Worth noting: on LBank, TRC20 (1.5 USDT) costs more than ERC20 (1 USDT), so defaulting to TRC20 isn’t necessarily the cheapest option. LBank’s help pages don’t describe any way to deposit or withdraw New Taiwan dollars (TWD) directly. A common approach in Taiwan is to buy USDT with TWD on MAX or BitoPro, transfer it on-chain to LBank, and reverse the steps on the way back. Both MAX and BitoPro accept USDT on BEP20 (see USDT withdrawal fees compared), so sending it back from LBank over BEP20 costs 0.2 USDT; sending the same 1,000 USDT over TRC20 costs 1.5 USDT, which adds up to 5.2 USDT extra if you transfer 4 times a month. Plasma also costs 0.2 USDT, but neither MAX nor BitoPro accepts it. If you pick the wrong network, the funds may not be recoverable; see how to recover a wrong-network deposit.
LBank also offers P2P trading, where users buy crypto from sellers with their local fiat currency and the platform holds the funds in escrow (LBank P2P buying guide); some coins have a withdrawal protection period after purchase. LBank doesn’t state whether P2P has TWD quotes, so check the P2P page. The two Taiwanese exchanges, MAX and BitoPro, have referral code guides on the Traditional Chinese version of this site.
Does LBank require KYC?
Yes. LBank’s user service agreement states that after signing up you must provide a genuine identity document and complete identity verification (KYC) before you can trade any digital assets. The LBank KYC FAQ (2026-07-24) also says that in regions or accounts where KYC is required, you can’t deposit, trade or withdraw without verifying. The official requirements are:
- Document: a passport, national ID card or driver’s license issued by a supported country. You must upload an original color photo of the physical document; scans, screenshots and photocopies are not accepted.
- Selfie: a front-facing headshot, plus one holding a handwritten note reading “LBank + YYYY-MM-DD.” In the app, you photograph your document first and then do facial recognition (LBank app KYC guide).
- Review time: automated review usually takes 5–30 minutes; more complex manual reviews take 1–3 business days.
The KYC guide and FAQ I checked describe only one verification process and list no tiered withdrawal limits. If an account is restricted from trading or withdrawing because of unusual activity, LBank asks you to submit a ticket and record a “C3” verification video: a continuous recording of you holding your ID and a note with the current date, time and your UID, and in more complex cases also a recording of you logging out of the account and back in (LBank restricted account guide). For the full steps, see the LBank KYC guide; for what to do in general when an account is frozen, see what to do if your exchange account is frozen.
Does LBank have proof of reserves?
Not a regularly updated version that lists a reserve ratio. Here is LBank’s official record:
| Date | What happened | Source |
|---|---|---|
| 2022-11-09 | Announced a plan to publish a publicly auditable Merkle tree and proof of reserves to users, with no timeline | LBank announcement |
| 2024-02-18 | A help page said a Merkle tree proof of reserves had been launched and published one BTC address and one ETH address, described in the text as hot wallets; no total assets or reserve ratio | LBank transparency page |
| 2026-10-19 | No proof of reserves page found on the website, and no figures comparing user assets with platform assets | Checked by this site |
Source: the links in the table, checked 2026-10-19.
I looked up the BTC address LBank published on Blockchain.com: on 2026-10-19 it held about 44.10 BTC, had more than 50,000 transactions in total, and was still moving funds that day (Blockchain.com address page). That only shows the hot wallet is still in use; with no total of user assets to compare it against, no reserve ratio can be calculated. By contrast, XT’s 2026-10-07 PoR lists both user assets and platform assets, which gives a BTC reserve ratio of 112.67%. For a comparison across exchanges, see exchange proof of reserves compared.
Has LBank been hacked? Has it been warned by regulators?
Security incidents: as of 2026-10-19, I found no reports in LBank’s official announcements or in major crypto media of LBank being hacked or of user assets being stolen. LBank’s 2025-07-28 announcement says it has kept a record of zero security incidents for nearly ten years, blocking more than 2,000 potential attacks and preventing more than USD 250 million in possible losses. These are figures LBank published itself, with no third-party audit report. Announcements suspending withdrawals of individual coins for node upgrades are common and count as routine maintenance.
Regulatory warnings, based on official documents and media reports:
- 2024-06-14: Japan’s Financial Services Agency issued a warning about “LBank Exchange,” saying it was operating a crypto-asset exchange business for Japanese residents over the internet without registration; both its representative and its location were listed as “unknown” (Japan FSA notice).
- 2025-08-20: The Philippine Securities and Exchange Commission issued a notice naming five platforms, LBank, CoinW, DigiFinex, Blofin and Pionex, that allowed sign-ups with Philippine phone numbers but were not registered as crypto-asset service providers (BitPinas report).
- 2025-08-27: Canada’s Ontario Securities Commission issued an investor warning stating that LBank at www.lbank.com (also known as LBank Exchange, PT LBK Teknology Indonesia and LBK Exchange Limited) is not registered in Ontario to engage in the business of trading in securities (Ontario Securities Commission warning).
On protection mechanisms, LBank has two funds. The first is the futures risk insurance fund, funded mainly by fees collected during liquidations; it absorbs bankrupt positions, and auto-deleveraging kicks in when it isn’t enough. The official help page says that to check its balance and usage history you have to email [email protected], and the page itself doesn’t publish the amount (LBank risk insurance fund explanation). The second is the USD 100 million futures risk protection fund announced on 2025-03-12: if a contract among the top 100 by market cap sees a wick that deviates 2% or more from the fair price within 1 minute and then quickly rebounds, users who were liquidated or whose stop-loss was triggered as a result can receive USDT compensation of 120% of the loss, credited within 48 hours. This only covers wicks; losses from normal market moves are not included. For other exchanges’ theft history, see exchange security records.
Which countries can’t use LBank?
LBank has at least three official lists, and they don’t fully match:
| Official document | Date | Contents |
|---|---|---|
| User service agreement | Help center shows 2026-07-22 | 28 regions where it does not offer services: Afghanistan, Antigua and Barbuda, Belarus, Burundi, Egypt, Central African Republic, mainland China, Hong Kong, Macau, Crimea, Cuba, Democratic Republic of the Congo, Donetsk, Guinea-Bissau, Iran, Iraq, Lebanon, Libya, Luhansk, Mali, North Korea, Somalia, South Sudan, Sudan and Darfur, Syria, United States, Yemen, Canada |
| KYC FAQ | 2026-07-24 | The unsupported list adds Venezuela, India and Palau compared with the agreement, but does not include Belarus |
| SMS service restriction notice | 2026-04-10 | Lists, by phone country code, the regions where platform services can’t be provided: United States, Canada, Russia, Kazakhstan, mainland China, Iran, Ukraine, Hong Kong, United Arab Emirates |
Source: the links in the table, checked 2026-10-19.
In addition, the official notice shown when you enable futures states that users from Iran, North Korea, Syria, Cuba, Crimea, the United States, and China and its territories may not trade futures. The three lists are not consistent: Russia, Ukraine, Kazakhstan and the UAE appear only in the SMS notice, for example, and India appears only in the KYC FAQ. The user agreement also states that LBank may change its terms at any time, effective on publication. Taiwan is not on any of these lists, but that only means LBank itself hasn’t excluded it; it doesn’t mean any regulator has approved it. Check the latest terms again before signing up; for a comparison of restricted regions across exchanges, see exchange restricted countries.
What products does LBank offer, and where do I download the app?
- Spot: the About Us page says it supports more than 800 coins; on 2026-10-19 the spot trading pair API listed 1,362 trading pairs, 1,321 of them USDT pairs. LBank claims to be number one in meme coin market share, says it has listed more than 300 meme coins, and says new coins can be listed in as little as 1 hour.
- Futures and leveraged tokens: 842 USDT-margined perpetual contracts (API count), plus leveraged tokens and futures grid.
- Copy trading: lead traders share strategies and take a share of their followers’ profits (LBank copy trading explanation); for how copy trading costs add up, see copy trading costs explained.
- TradFi: uses USDT as margin to trade the prices of US stocks (such as AAPL and TSLA), gold, crude oil, forex and indices, without holding the underlying assets; stock contracts currently charge no funding fees (LBank TradFi guide).
- Earn: flexible and fixed staking, airdrops, BoostHub, Token Splash and more; returns and conditions depend on each product page.
- Buy crypto: P2P and one-click buying with a linked bank card.
As for the app, on 2026-10-19 LBank could be found on the Taiwan App Store (version 6.2.0, updated that day), it is also on Google Play, and the LBank download page additionally offers a direct Android APK download. Fake apps impersonating exchanges circulate online, so only install from the official download page or official store links.
How do I contact LBank customer support?
Both the website and the app have a smart support entry point. Start with self-service lookup and the FAQ; if that doesn’t solve it, move to live chat or submit a ticket, and track ticket progress under “My Support Tickets” (LBank smart support guide). The KYC FAQ says live chat is available 24 hours a day, and the support email is [email protected]. When submitting a ticket, LBank recommends including your UID, the time and time zone of the issue, the coin or trading pair, the transaction hash (TxID) of the deposit or withdrawal, and screenshots of any errors.
LBank also reminds users that support will never ask for your login password, SMS code, Google Authenticator code, private key or seed phrase; stop and verify any message asking you to transfer funds or pay an “unfreezing fee.” These tactics are covered in crypto exchange scam types.
LBank pros and cons
| Pros | Cons |
|---|---|
| VIP 0 spot 0.1% and futures Maker 0.02%, on par with most exchanges | Futures Taker 0.06%, higher than the 0.05% at Binance and OKX; VIP 1 doesn’t lower the Taker fee |
| Free deposits; USDT withdrawals over BEP20 cost 0.2 USDT | TRC20 withdrawals cost 1.5 USDT, more than ERC20 |
| Lots of new coins and meme coins, with more than 1,300 spot trading pairs | Newly listed small-cap coins are volatile, and liquidity varies widely |
| No theft record found in official announcements or the media | No regularly published proof of reserves from which a reserve ratio can be calculated |
| Wick compensation for futures and a risk insurance fund | The insurance fund balance isn’t published directly; you have to email to ask |
| Listed on both the App Store and Google Play | Regulators in Japan, Ontario and the Philippines have issued unregistered-business warnings |
Source: the official links in each section of this article, checked 2026-10-19.
Who is LBank a good fit for?
Based on its fees and products, LBank suits these uses best:
- People who want to trade new coins and meme coins: lots of trading pairs and fast listings, which is the direction LBank itself promotes.
- Futures traders who mostly place maker orders: the 0.02% Maker fee matches most exchanges and drops further from VIP 1.
- People who often move USDT between Taiwanese exchanges and overseas ones: BEP20 withdrawals cost 0.2 USDT, and both MAX and BitoPro accept them.
Less suitable: futures traders who take liquidity heavily, since the 0.06% Taker fee only drops at VIP 2; and people who use an exchange for long-term storage and care about reserve transparency, since LBank currently lacks PoR figures to check against. For fee rankings across 13 exchanges, see lowest-fee crypto exchanges.
What are the risks of using LBank?
- Regulatory risk: LBank has been flagged as unregistered in Japan, Ontario (Canada) and the Philippines, and users in these places may run into website blocking or service suspension. The user agreement states that users bear any financial losses if trading is suspended or banned because of regulatory changes.
- Asset transparency: with no regular PoR, outsiders can’t confirm whether platform assets are enough to cover user assets; and even a PoR only reflects the moment of the snapshot and doesn’t include the company’s liabilities.
- Leverage risk: futures go up to 200x, and some products up to 500x, so a small move against you may trigger liquidation and cost you all of your margin; wick compensation only covers specific conditions.
- New coin risk: the prices of newly listed small-cap coins may swing sharply in a short time, and the coins may also be delisted.
- Account risk: if risk controls flag unusual activity, trading or withdrawals may be restricted, and lifting the restriction requires video verification; the terms can be changed at any time, effective on publication.
Most exchanges carry these risks; where LBank differs is that it lacks the disclosure of a regular PoR. Decide how much to keep there, and for how long, based on the losses you can afford.
FAQ
Is LBank safe?
No exchange can guarantee safety. As of 2026-10-19 LBank has no public record of theft, but it also publishes no regular proof of reserves. Japan’s Financial Services Agency (2024-06-14), the Ontario Securities Commission (2025-08-27) and the Philippine Securities and Exchange Commission (2025-08-20) have all issued unregistered-business warnings or notices about LBank.
Where is LBank based?
LBank’s website doesn’t say where its headquarters is. It was founded in 2015; its App Store developer is LBANK EXCHANGE UAB, a Lithuanian company form; most of its press releases give Singapore as the dateline; and its user agreement says the brand rights belong to LBK Exchange.
Has LBank been hacked?
As of 2026-10-19, I found no reports in LBank’s official announcements or in major crypto media of it being hacked or of user assets being stolen. On 2025-07-28 LBank said it had kept nearly ten years without a security incident; that is LBank’s own claim, with no third-party audit report.
Does LBank have proof of reserves?
Not a regular version from which a reserve ratio can be calculated. On 2022-11-09 LBank announced it would publish a Merkle tree proof of reserves, and on 2024-02-18 it published one BTC and one ETH hot wallet address, but no total of user assets; on 2026-10-19 I could not find a PoR page on its website.
Can I use LBank in Taiwan?
Taiwan is not on the restricted lists in LBank’s user agreement, KYC FAQ or SMS restriction notice, but that only means LBank hasn’t excluded Taiwan; it doesn’t mean any regulator has approved it. The terms can change at any time, so check the latest user agreement again before signing up.
Can I withdraw from LBank to a Taiwanese bank account?
LBank’s official help pages don’t describe any way to withdraw TWD directly to a Taiwanese bank account. The common approach is to transfer USDT to MAX or BitoPro and convert it to TWD under that platform’s rules; withdrawing from LBank over BEP20 costs 0.2 USDT (official API, 2026-10-19).
Are LBank’s fees high?
At VIP 0, LBank charges 0.1% for both spot Maker and Taker, and 0.02% Maker and 0.06% Taker on futures, the same tier as Bitget and KuCoin; its futures Taker fee is slightly higher than the 0.05% at Binance and OKX. To get the futures Taker fee down to 0.04% you need to reach VIP 2. For the full fee schedule, see LBank fees explained.
How long does LBank KYC take?
LBank says automated review usually takes 5–30 minutes, and more complex manual reviews take 1–3 business days. You need a passport, national ID card or driver’s license issued by a supported country, plus a selfie holding a handwritten note reading “LBank + date.”
LBank’s full fee schedule is in LBank fees explained, identity verification is in the LBank KYC guide, and futures orders and risk settings are in the LBank futures guide. To compare with other exchanges, see exchange security records, exchange proof of reserves compared and exchange restricted countries; reviews written the same way include the BTCC review and the XT review. Referral codes for other exchanges are collected in the crypto exchange referral code directory.