In response to the flood of responses addressing recent events in the crypto market, we would like to explain how we at LiteBit make sure your assets are safe.  

LiteBit launched in 2013 as one of the first Dutch crypto platforms where customers can safely and easily buy, sell and store cryptocurrencies. Since then, we have built a strong reputation as a reliable party, based on the following pillars: 

Funds and financial position 

Customer funds and crypto are not used for other purposes and are backed 1-to-1. Our clients' crypto is held securely in wallets managed by us. We have no exposure to FTX, Genesis and BlockFi. 

LiteBit is privately held and has been fully funded with equity since its inception. LiteBit's capital has not been lent to other parties or invested in cryptocurrencies. LiteBit has a solid financial position and sufficient liquidity. This provides financial stability in the future. 

LiteBit is a healthy organization with professional management. LiteBit's financial statements are audited every year by an independent auditor. Clients can therefore rest assured that LiteBit's figures are in order and reflect a true and fair view of reality. As usual, the annual audit will also be carried out at the end of this year as part of the financial statement audit. Part of this audit by an independent auditor is to determine that the coins LiteBit claims to have are actually present in the wallets. 

Personal

LiteBit is a company with a physical office in Rotterdam. Customers can always approach us with questions. Our Customer Support team will happily assist you via phone, email or chat. 

Oversight 

LiteBit was one of the first Dutch crypto platforms to receive a registration from De Nederlandsche Bank (DNB) as a provider of crypto services and also has registrations with regulators in France and Austria. We have a strict policy to comply with the Anti-Money Laundering and Terrorist Financing Act (Wwft). This means that our board and directors' reliability is checked, and that we comply with all applicable regulations around money laundering, terrorist financing and sanctions legislation.  

Recent events show once again how important regulations are for the crypto sector to mature; something LiteBit has been advocating for years. We will continue to work hard to realize our mission: to create a safe and reliable platform for anyone who wants to trade crypto. 

FAQ about the current situation