LBank Warning Review | Is LBank a Scam? An In-Depth Look at Lack of Regulation, Withdrawal Disputes, and Listing Controversy

1. Platform Background and Development History

LBank (official website: lbank.com ) was founded in 2015 and was initially positioned as a cryptocurrency exchange for the Asian market. In recent years, it has actively expanded into the African and Southeast Asian markets.
Its marketing promotion includes:

• Tens of millions of users worldwide

• The average daily trading volume is billions of US dollars

• Supports 300+ cryptocurrencies

• Provide spot, contract, leverage, financial management and other businesses

However, the community has long questioned LBank's insufficient trading depth, low project listing threshold, and lack of fund security , and has listed it as a "high-risk exchange."

2. Company Registration and Compliance Investigation

1. Registration Information

• LBank's official information shows that its registered places are Hong Kong and Singapore.

• However, no licensing information of LBank was found in the Singapore MAS and Hong Kong SFC databases.

2. Domain Name and Technology

• The domain name lbank.com was registered in 2015 by an anonymous registrant.

• The server was migrated multiple times and the operations team lacked transparency.

3. Contact Information

• The official website provides email and online customer service, but lacks a valid office address.

• Users reported that customer service was slow to respond and some work orders were left unattended.

III. Regulatory Status and False Advertising

1. No regulatory license

• LBank is not registered with any major jurisdictions (such as FCA, FinCEN, CySEC).

2. False advertising

• It has repeatedly claimed to be "compliant" but failed to provide specific numbers.

3. Lack of fund protection

• Proof of Reserves is not disclosed.

• There is no investor compensation mechanism.

IV. User Complaints and Case Evidence

1. Withdrawals blocked

• On Trustpilot , a large number of users have complained that their withdrawals have been frozen or delayed indefinitely.

2. Coin Listing Controversy

• A project owner posted on Reddit claiming that after paying high listing fees, their tokens were manipulated in a short period of time, with investors experiencing a "pump and dump." (See Reddit CryptoScams .)

3. Customer service lost contact

• In the FX110 exposure area ( FX110 exposure case ), users reported that customer service did not respond.

5. Third-party media and industry warnings

• WikiFX : Risk score is only 1.9/10, marked as "unregulated".

• Cointelegraph : Reported on LBank’s regional expansion, but did not confirm its compliance qualifications.

• Trustpilot : Very low rating, with over 70% of users giving it 1 star.

VI. Financial Risk and Operation Model

1. Insufficient fund transparency : Without PoR, it is unclear whether the fund pool is sufficient.

2. Withdrawal barriers : User funds may be frozen at any time.

3. The threshold for listing is low : any project can go online by paying a fee, and there is an influx of virtual coins.

7. Industry Comparison

8. BrokerHiveX Risk Dimension Scoring (including reasons)

• Compliance: 1/10 → Operating without a license.

• Transparency: 2/10 → Company and executive information is unclear.

• User Experience: 2/10 → Complaints regarding withdrawals and loss of contact with customer service.

• Fund security: 1/10 → No PoR, high withdrawal risk.

• Reputation: 2/10 → Negative feedback is concentrated on Trustpilot and Reddit.

👉Overall Rating: 1.6/10 (Very High Risk)

IX. Rights Protection and Reporting Channels

1. Save evidence : screenshots of deposits and withdrawals, and customer service emails.

2. report :

• Hong Kong SFC Complaints Platform

• MAS Complaint Portal

• US SEC reporting page

3. Exposure : Leave a record on FX110, Reddit, and Trustpilot.

10. Conclusion and Investment Warning

LBank (lbank.com) is an unregulated, high-risk exchange :

• False advertising of compliance status;

• A large number of withdrawal failures;

• The threshold for listing coins is low, leading to the proliferation of "virtual coins";

• The community has a very bad reputation.

📌Investment Warning :
Stay away from LBank to avoid losing your funds.