Safety Tools · Forensic Self-Check

Exchange Safety Check

This list takes the lessons left by exchanges like FTX and Mt.Gox, and by Ponzi schemes like PlusToken, and breaks them into risk signals you can check for yourself. 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.

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 — a large exchange can fail too (FTX was a large exchange 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.

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 its own word with nothing you can verifyA report issued by an independent third party is more credible; where there is none, all you can do is check the on-chain addresses yourself and use the Merkle tree to confirm your own balance was included. 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 reservesThe lesson FTX left: according to CoinDesk's report of November 2, 2022, about 40% of the $14.6 billion in assets on the books of its affiliate Alameda was FTT, the token FTX itself issued. The moment trouble hits, the house token falls first, and that part of the balance sheet stops holding anything up. 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.

To check each signal properly, read next: The FTX collapse · The PlusToken Ponzi · What proof of reserves is (including Mazars pausing its reports in December 2022) · Lesson One: how to layer your assets