Lykke

Lykke, a Swiss-based exchange founded in 2015, was known for its unique zero-fee trading model across crypto and fiat assets. However, it is currently in a state of severe distress.

Critical Current Status:

• Major 2024 Cyberattack: In June 2024, Lykke suffered a significant hack resulting in an estimated $22 million loss (Bitcoin, Ethereum).
• Operations Suspended: All trading and withdrawal operations were suspended following the hack and remain inactive "under further notice."
• UK Regulatory Warning: The UK's FCA issued a warning in December 2023, advising against Lykke due to unauthorized financial promotions in the UK.
• Provisional Liquidators Appointed: In March 2025, provisional liquidators were appointed under UK insolvency law to investigate and protect assets, citing a "real risk of assets being dissipated" ahead of winding-up proceedings. This points to severe financial instability.

Summary:

Lykke Exchange is currently not operational or safe for trading or holding assets. Its severe 2024 cyberattack, ongoing suspension, regulatory warnings, and recent move towards liquidation indicate that it is a platform to absolutely avoid.