VASPCheck

VASP Compliance Summary — Bitfinex

iFinex Inc. · Exchange · El Salvador

Exported 2026-08-25

Data reviewed 2026-08-01

Overview

Compliance snapshot

Overall regulatory statusRegistered

EU MiCA statusNo EU authorization

Digital asset service provider licence — El Salvador (CNAD)
No EU CASP authorization; retail access restricted in the EEA
Trustpilot 3.1/5 · 2,300 reviews
2016 hack of 119,756 BTC still material to counterparty reviews

High concern

Offshore group with historic reserve-disclosure settlements and a major 2016 hack; licensing is limited to a digital-asset regime outside the EU.

Authorizations

Licenses & registrations

Jurisdiction	Regulator	Authorization	Status	Reference	Granted
El Salvador	Comisión Nacional de Activos Digitales CNAD · https://www.esma.europa.eu/esmas-activities/digital-finance-and-innovation/markets-crypto-assets-regulation-mica	Digital asset service provider licence	Authorized	CNAD-2023-0004	2023-11-08
British Virgin Islands	Financial Services Commission FSC · https://opr.fscmauritius.org/ords/opr/r/fsc-opr/fsc-online-public-register-opr	VASP registration	Registered	VASP-BVI-0088	2023-07-31
European Union	National competent authorities NCA · https://www.esma.europa.eu/esmas-activities/digital-finance-and-innovation/markets-crypto-assets-regulation-mica	MiCA CASP authorization	Not licensed	—	—

Reputation

Reputation scores

Trustpilot-style score3.1 / 5

Reviews2,300

App Store4.0

Google Play3.4

12-month trendflat

Press sentiment (12m)+2 / ~4 / −4

Media

Recent press

Date	Source	Headline & summary	Sentiment
2026-06-09	Reuters	Exchange relocates group functions to El Salvador The move followed the country's new digital asset framework.	Neutral
2026-03-31	Bloomberg	Professional trading volumes hold steady The venue retained a niche among high-volume traders.	Positive
2025-11-19	Financial Times	Affiliate stablecoin issuer faces EU delisting pressure European venues removed a related stablecoin ahead of new rules.	Negative
2025-08-05	CoinDesk	Recovered 2016 hack proceeds returned in part US authorities began returning a portion of seized assets.	Positive

Risk events

Incidents & enforcement

Date	Type	Amount	Description
2021-10-15	Fine	USD 1,500,000	US commodities regulator settlement over illegal retail transactions and registration failures.
2021-02-23	Enforcement	USD 18,500,000	New York settlement with an affiliated stablecoin issuer over reserve disclosures.
2016-08-02	Hack	USD 72,000,000 (at the time)	Breach of multi-signature wallets; 119,756 BTC stolen, socialised across customer balances.

Profile

Key facts

Founded2012

Websitebitfinex.com

Fiat currenciesUSD, EUR, GBP, JPY

Proof of reservesPartial

Custody modelOmnibus wallets with multi-signature cold storage

Legal entitiesiFinex Inc. (VG) · Bitfinex El Salvador S.A. de C.V. (SV)

Bitfinex

RegisteredNo EU authorizationESMA register

iFinex Inc.

Exchange🇸🇻 El Salvador Founded 2012bitfinex.com

Visit website

Last reviewed

2026-08-01

Compliance snapshot

Digital asset service provider licence — El Salvador (CNAD)
No EU CASP authorization; retail access restricted in the EEA
Trustpilot 3.1/5 · 2,300 reviews
2016 hack of 119,756 BTC still material to counterparty reviews

Overall concern

High concern

Offshore group with historic reserve-disclosure settlements and a major 2016 hack; licensing is limited to a digital-asset regime outside the EU.

Regulatory

Licenses & registrations

Jurisdiction	Regulator	Authorization	Status	Reference	Granted
🇸🇻 El Salvador	Comisión Nacional de Activos DigitalesCNAD	Digital asset service provider licence	Authorized	CNAD-2023-0004	2023-11-08
🇻🇬 British Virgin Islands	Financial Services CommissionFSC	VASP registration	Registered	VASP-BVI-0088	2023-07-31
🇪🇺 European Union	National competent authoritiesNCA	MiCA CASP authorization	Not licensed	—	—

🇸🇻 El Salvador
Authorized
Digital asset service provider licence
Comisión Nacional de Activos DigitalesCNAD
CNAD-2023-00042023-11-08
🇻🇬 British Virgin Islands
Registered
VASP registration
Financial Services CommissionFSC
VASP-BVI-00882023-07-31
🇪🇺 European Union
Not licensed
MiCA CASP authorization
National competent authoritiesNCA
——

User signals

Reputation

Trustpilot-style score

3.1/ 5

3.1

2,300 reviews

Stable (12m)

App ratings

App Store: 4.0
Google Play: 3.4

Press sentiment (12m)

Positive2

Neutral4

Negative4

Media

Recent press

2026-06-09
Exchange relocates group functions to El SalvadorNeutral
Reuters — The move followed the country's new digital asset framework.
2026-03-31
Professional trading volumes hold steadyPositive
Bloomberg — The venue retained a niche among high-volume traders.
2025-11-19
Affiliate stablecoin issuer faces EU delisting pressureNegative
Financial Times — European venues removed a related stablecoin ahead of new rules.
2025-08-05
Recovered 2016 hack proceeds returned in partPositive
CoinDesk — US authorities began returning a portion of seized assets.

History

Incidents & enforcement

2021-10-15FineUSD 1,500,000
US commodities regulator settlement over illegal retail transactions and registration failures.
2021-02-23EnforcementUSD 18,500,000
New York settlement with an affiliated stablecoin issuer over reserve disclosures.
2016-08-02HackUSD 72,000,000 (at the time)
Breach of multi-signature wallets; 119,756 BTC stolen, socialised across customer balances.