Avoid Crypto Exchanges: Why Many Are Risky and Where to Turn Instead

When you hear avoid crypto exchanges, the phrase isn’t about rejecting all platforms—it’s about steering clear of the ones that vanish with your money, hide their team, or have zero trading volume. This isn’t fearmongering. It’s fact. In 2024 alone, over 120 crypto exchanges shut down without warning, leaving users with nothing but a broken website and a lost wallet. You don’t need to avoid all exchanges—you need to avoid the ones that look like they were built in a weekend by people who don’t even know what blockchain is.

Crypto scams, fake platforms that promise high returns or fake airdrops are everywhere. Look at Zenith Coin or Hot Cross—both had airdrops that never existed, and now their tokens are worth pennies, if anything at all. Then there’s Bitsonic, a Korean-only exchange with no English support, no mobile app, and zero transparency for international users. These aren’t edge cases. They’re the norm. The real danger isn’t volatility—it’s platforms that don’t just lose your money, but make it impossible to even contact someone about it.

Unregulated exchanges, those operating without licenses, audits, or legal accountability are the worst offenders. Malta’s crypto license requires €350K in capital and local staff—so why would you trust an exchange that doesn’t even publish its address? The ones you should avoid don’t just lack compliance—they lack basic credibility. You’ll find them in fake Telegram groups, misleading YouTube ads, or pop-ups that say "Claim your free token now!"—all leading to wallets that drain faster than a leaky faucet.

It’s not about being paranoid. It’s about being smart. The best crypto users don’t chase every new exchange. They stick to ones with real history, real users, and real transparency. Some platforms, like Kodiak V3 or Websea, at least publish their team, fees, and security steps. Others? They vanish after the first big price pump. The posts below show you exactly which exchanges to walk away from—and why. You’ll see real cases of failed platforms, fake airdrops, and tokens with zero trading volume. You’ll learn how to spot the red flags before you deposit a single dollar. This isn’t theory. It’s what happened to real people. And it can happen to you—if you don’t know what to look for.