🚨 Fake crypto exchanges stole $17 BILLION in 2025. Up 66% from the year before.
And the platforms doing it look professional. Slick dashboards. Real-looking Trustpilot profiles. Working deposit functions. Some even have customer support that coaches you on what to tell your bank.
The standard advice — "make sure it's regulated" — doesn't help most people because they don't know HOW to actually verify a licence.
So here's what you actually need to check:
🔴 Domain age
Run the exchange URL through WHOIS. If the domain was registered 3 months ago and the site claims 3 years of operation — that's your answer. Takes 60 seconds.
🔴 Licence number verification
Don't just look for a licence number on the exchange's site. Go to the actual regulator database (FCA, SEC EDGAR, CySEC, ASIC) and check that the number matches the legal entity name. Scammers routinely use real licence numbers that belong to completely different companies.
🔴 Withdrawal behaviour
Deposits credited instantly. Withdrawals always "pending." That's the operating model of a fake exchange — they control the deposit address. Your funds move to their wallet the moment you send them.
🔴 The second-phase fee
If you're asked to pay a "tax," "verification fee," or "insurance deposit" before your withdrawal can be released — that is not a real fee. Paying it will not release your funds. It is the scam continuing.
🔴 The app certificate
On Android: Settings → Apps → select the app → App Info. The signing certificate should match the exchange's legal entity. Cloned apps fail this check immediately.
Full guide — including the never-legitimate vs. exit scam breakdown, step-by-step regulator checks for FCA/SEC/CySEC/ASIC, and what to do if you've already deposited — is on Trading365.
https://trading365.org/guides/how-to-spot-a-fake-crypto-exchange-before-it-s-too-late
Might be good to bookmark this for future reference. Stay safe out there. These operations are getting harder to spot, not easier.