CoinRabbit
APR17.4-19.4%(Variable)
Risk score76High
Founded in 2020, CoinRabbit is a CeFi lender operated by Rabbit Finance LLC, registered in St. Vincent and the Grenadines. The platform offers loans in USDT or USDC against Bitcoin and more than 300 other crypto assets. Borrowers can choose a 30-day fixed-rate term or keep the loan open-ended. Collateral is held in-house, without a qualified custodian.
Interest rate
Variable (e.g. 17-19%)
Currency support
USDC, USDT, BTC, ETH
Fees
0.4%
Collateral
BTC, wBTC, ETH, XRP, SOL, and 300+
LTV
Up to 90%
Loan type
Consumer
Liquidation LTV
LTV + 5%
Margin call
Custom formula (see Liquidation Buffer section)
KYC
Varies
Total loan issued
N/A
Launch year
2020
Loan duration
Flexible
Support
Email, Telegram, Chat
Loan value
$20 - N/A
Total risk score76High
How we calculate risk?
Highlights
Collateral is held in provider-controlled pooled wallets, priced via a closed, undisclosed “liquidity-partner” feed, and is vulnerable to liquidation from a thin LTV buffer. Rates can be changed at the firm’s sole discretion. There is no proof-of-reserves, wallet address disclosure, or independent attestation; no public audits or bug bounty; and governance is fully internal. Publishing proof-of-reserves and conducting security audits, moving BTC to bankruptcy-remote cold storage, adopting transparent multi-feed oracles, widening the LTV buffer, and capping or locking rates would reduce risk.
Penalties
Custody = 7
+5 pts
Security & Governance = 7
+5 pts
Oracle = 10
+5 pts
Liquidation Buffer ≥ 7 AND Oracle ≥ 7
+5 pts
Rate & Term = 7
+2 pts

Collateral
0/10
What are you pledging? Native BTC is safest; wrappers, bridges, or paper IOUs add redemption risk.
Native BTC (on-chain UTXO).
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Native BTC
07/31/2025

Rehypothecation
2/10
Will your BTC be re-used? More hidden leverage → bigger blow-up chance.
Policy states “user collateral is never lent out, reused, or reinvested” but funds sit in pooled lender wallets, not true on-chain escrow.
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No Rehypothecation
07/31/2025

Custody
7/10
Who can move the coins? Scores quorum design, recovery paths, and (for CeFi) bankruptcy-remote segregation.
Multisig cold storage is controlled solely by the provider; users hold no keys. There is no independent public custodian, and the collateral is not held in a bankruptcy-remote structure.
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Cold wallet multisig, user does not hold key
07/31/2025

Security & Governance
7/10
How battle-tested are code and ops? Counts audits, bug-bounty, certs, and hardware key isolation.
No public smart-contract or infrastructure audits, no bug-bounty, governance entirely internal; T&Cs only promise “industry-standard security” and internal audits.

Platform
0/10
Is the chain or bridge robust? Rates consensus security and smart-contract attack surface.
Native Bitcoin script.
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Native BTC
07/31/2025
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Bitcoin Address
07/31/2025

Oracle
10/10
How is price fetched and signed? Independence, on-chain proofs, refresh speed, circuit breakers.
Liquidation price is calculated against a CoinRabbit-chosen “liquidity partner” feed checked every second; the feed, methodology and signers are undisclosed.
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It is unclear where the exchange rate comes from
07/31/2025

Liquidation Buffer
10/10
How much room and time before liquidation? Combines LTV gap, grace window, and flash-crash guards.
CoinRabbit fixes the liquidation trigger at "initial LTV + 5%", anchored to the BTC price when the loan begins. No grace period. Liquidation can occur the moment the threshold is crossed. Example: start at 90% LTV → liquidation at 95%, so even a 5-6% BTC price drop can wipe you out.
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The public site just defines the concept without giving any percentage.
07/31/2025
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CoinRabbit’s supporter confirmed:: LLTV = LTV + 5%
08/04/2025

Rate & Term
7/10
Can interest spike mid-loan? Looks at fixed vs variable APR and funding duration match.
CoinRabbit terms state: "Interest shall be subject to revision from time to time, at our sole and absolute discretion." Coinrabbit support also confirmed that when the interest rate changes, both new and existing open-ended loans are affected.
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The rate may later be adjusted at CoinRabbit’s sole discretion.
08/04/2025
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Coinrabbit’s supporter confirmed
08/04/2025

Transparency
10/10
Can outsiders verify code & solvency? Rewards open-source + live PoR; punishes black boxes.
No proof-of-reserves, no wallet addresses, no independent attestations; all balances and risk metrics are opaque.

Loan Currency
4/10
What asset do you borrow? Native-BTC best; fiat stables graded on reserves, audits, censorship risk.
Payout available only in fiat-backed stable-coins (USDT, USDC, etc.).
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Stable-coins (USDT, USDC, etc.).
07/31/2025

Privacy
4/10
How exposed is your identity? Scores KYC depth, data storage, and breach history.
Optional-KYC tier. CoinRabbit markets "no KYC" for ordinary loans, but mandatory for "extended loan limits" > USD $1 million.
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Mandatory for “extended loan limits”
08/05/2025
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Mandatory for “extended loan limits”
08/05/2025

History
4/10
Have they proven themselves? Measures years in production, audit/OSS footprint, and incident track record.
Operating since end of 2020 (> 3 yrs) with no public hacks, but lacks any external audits or significant open-source.

Jurisdiction
7/10
Which legal system backs you? Rates clarity of licensing, creditor rights, and enforcement.
St. Vincent and the Grenadines
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St. Vincent and the Grenadines
07/31/2025