Safety Tools · Forensic Self-Check

Exchange Safety Check

Almost every exchange that blew up — FTX, Luna, Mt.Gox, PlusToken — left public warning signs before it fell. This turns those lessons into a tick-box list. Match the exchange you actually use against the signals below; the more you tick, the more concern is warranted. This isn't a prediction. It's a health check that helps you see the signs before the collapse, not after.

Match your exchange against these signals

Tick whatever fits your exchange right now. The risk gauge below updates live with each box. If you're unsure about one, go find out before you tick it.

Withdrawals are getting slow, or get "paused for maintenance" from time to timeThis is the number-one precursor to almost every historic blow-up. Money goes in fine but won't come out — that's the most dangerous signal there is. Fatal signal No Proof of Reserves (PoR), or only self-attestation with no independent auditFTX also claimed "funds are fully segregated" right up to the end. What counts is whether you can verify your own balance is included via a Merkle tree. A plain text claim does not count. High weight Anonymous team, unclear registration, no traceable license anywhereAn information vacuum is itself the answer. A platform that wants you to deposit money and plans to be around long term has no reason to hide its legal entity and licensing. High weight It lures you to keep coins on the platform with high-yield "earn / lock-up" products"1% a day," "30% APY, principal guaranteed" — these are the hallmark of Ponzi schemes like PlusToken. No legitimate platform can guarantee a fixed high return. Fatal signal Its own platform token makes up too large a share of its reservesFTX's most expensive lesson for the industry: if a big chunk of the "reserves" is the exchange's own token, the reserves are hollow. The moment trouble hits, that token goes to zero first, with no bid to sell into. High weight There are reports of commingled funds or insolvency, or users publicly flagging withdrawal problemsBefore exchanges run, forums, X and Reddit are usually full of complaints. Before you deposit, search the name plus "can't withdraw / scam / insolvent." Fatal signal It's a small or brand-new exchange, depth is razor-thin, and app-store ratings have very few reviewersFewer than ~100 reviewers is a strong sign of a clone or a freshly stood-up operation. An exchange with millions of real users cannot have a two-digit review count. Support is unreachable, or only talks via private Telegram/chat "mentors" pushing you to depositA real exchange's support is a passive ticket system. It won't add you, teach you to trade, or push you to fund. Proactive "signal mentors" are a classic pig-butchering script. High weight

/ 18 risk pts

Risk signals: Low

Nothing ticked yet. Match the exchange you actually use against the signals above; you'll get a risk level and concrete advice here.

Whatever your score, do all of these

Don't leave large amounts on a small exchange — keep only what you're actively trading; withdraw the rest.
Self-custody long-term holdings — not your keys, not your coins. Move them to your own wallet.
Turn on withdrawal address whitelisting + 2FA — that defends against hackers, which is separate from defending against a blow-up. Do both.
Diversify — don't concentrate your net worth on any one exchange, least of all a small one.
Keep watching PoR and audits — reserve proof and smooth withdrawals are the platform's thermometer.

Honest, up front

This list helps you lower risk; it does not guarantee safety. Every centralized exchange holds your assets in custody, and that is a risk in itself — even an exchange that looks rock-solid can fail (FTX was one of the most trusted exchanges in the world right before it collapsed). So the takeaway is never "low score means bulletproof." It's diversify, and self-custody your long-term holdings.

This tool only organizes publicly checkable historical signals. It does not target, and does not assert, that any operating platform is "about to fail." It is not investment advice. The judgment, and the money, stay in your hands.

To check each signal properly, read next: How to tell if a crypto exchange is trustworthy (8 red flags + checklist) · The FTX collapse · The PlusToken Ponzi · Companion tool: Fund Safety Checklist