What was Hanbitco?
Hanbitco started back in November 2017 at the height of Korea's first big crypto surge. Unlike many local venues chasing quick fees, it aimed for strong compliance, bragging about early ISO 27001 and ISMS certifications and joining the Korea Blockchain Association. They wanted to be the secure, audited choice in a wild market.
How it tried to stand out
- Kept listings minimal - only about 7 coins and 11 pairs at the most.
- Claimed heavy use of cold storage for user funds.
- Charged a flat 0.10% trade fee, undercutting some rivals, plus ~0.00049 BTC for withdrawals.
- Pushed strict KYC, AML, and transaction monitoring to win over regulators.
Their pitch was clear - if you were wary of shady Korean exchanges popping up and vanishing, Hanbitco promised to be different.
Where it stands today
- Recent data shows daily volumes stuck near zero - no BTC or ETH trades moving.
- Order books sit empty or spread so wide you can't realistically fill an order.
- Social channels show ~5,600 followers but no new updates or promotions for over a year.
- Most aggregators list Hanbitco as untracked or inactive, meaning it's basically off the map.
Still secure?
Ironically, Hanbitco still points to old ISO tags and cold wallet claims. A few years ago, it even topped Korean cybersecurity rankings by default - it had no breaches. But that was then. Certifications expire, reserves get dusty, and without new audits or live proofs, those badges mean little. There's no current evidence of asset levels or withdrawal readiness.
Who would use it now?
Realistically - nobody. There's no fiat ramp, no liquidity, no active books. Even if you tried to swap old pairs, you'd be staring at blank screens. About the only folks who might care are researchers writing up Korean crypto history. For them, Hanbitco is a neat little time capsule.
Hanbitco snapshot table
- Launch Year: 2017 (South Korea)
- Listed Assets: ~7 coins, ~11 pairs
- Trading Fees: 0.10% flat
- Withdrawal Fees: ~0.00049 BTC
- Current Volume: Near zero
- Security: Old ISO/ISMS, past top local scores
- Fiat Access: None
- Custody: Heavy cold storage claimed
- Status: Inactive, untracked
Closing thoughts
Back during the 2017 rush, Hanbitco pitched itself as the safe, compliant alternative in Korea. It worked briefly. But without adapting to new trends or aggressively chasing global markets, it faded. Today, it's just a minor historical note - no trades, no liquidity, no path forward. Interesting for a case study, but not for actual buying or selling.