Coinfloor

Coinfloor ceased operations in November 2021 after deciding the business was no longer commercially viable in an increasingly competitive and regulated market. The closure was structured and solvent — approximately 79,000 customer accounts were transferred to CoinCorner, another UK Bitcoin broker, as part of a deal worth £100,000 plus a revenue share arrangement. No customer funds were lost as a result of the closure. Users who did not transfer to CoinCorner were instructed to contact Coinfloor directly to arrange withdrawal of remaining balances.

Coinfloor published monthly cryptographic Proof of Solvency reports from 2014, making it one of the earliest cryptocurrency exchanges globally to implement this transparency practice — predating the post-FTX proof-of-reserves wave by eight years. The proofs used SHA-256 hashing and on-chain OP_RETURN commitments, allowing users to independently verify their balances were included in the attested total. This pioneering approach to reserve transparency was a key differentiator for Coinfloor and has since become industry standard.

Coinfloor operated under HMRC Bureau de Change registration rather than full FCA authorisation. In the UK, cryptocurrency exchanges were not required to be FCA-authorised for trading services during most of Coinfloor's operational period — only FCA registration for AML purposes was mandated from 2020. Coinfloor complied with the applicable AML and KYC requirements under its HMRC registration. The FCA Advertising Standards Authority reviewed a 2020 complaint about Coinfloor's advertising and found no misleading claims.

Coinfloor had a clean security record throughout its eight-year operational history (2013–2021). No significant hacks or theft of customer funds were reported. The exchange's 100% cold storage policy, multi-signature wallet controls, and monthly cryptographic Proof of Solvency reports contributed to this strong security track record. The closure in November 2021 was driven by commercial decisions rather than any security incident, regulatory enforcement, or solvency concern.