Binance finishes outside the top 5, Bitfinex ranking surprises many, and Kucoin is deemed high risk. Since 2011, exchanges have because of , , and . When this happens, exchange customers usually pay the price. cryptocurrency lost $12.6 billion hacks scams regulatory seizures Yes, $12.6 billion. At , our mission is to make crypto safer for everyone. Understanding exchange credit risk is hard, so we built a predictive model that provides credit scores and rankings on each exchange’s risk of defaulting because of a hack, scam, etc. CDx Credit risk is the risk that an exchange is unable to give your money back. Ranking are determined by four factors The rankings are based on a combination of factors from four categories (the report and Andrew’s goes into more detail): methodology article — Cybersecurity Unsecure exchanges are more likely to get hacked — Regulatory Risk Less compliant exchanges are more likely to get shut down — Track Record of Hacks Previously hacked exchanges are more likely to get hacked again — Exchange Volume High volume exchanges are more likely to repay customers after a hack Good News: Safe, regulated exchanges are available Binance and Poloniex are both landed in the top 10, but out of 100 exchanges, only 3 managed to gain a rating of AA or higher. CDx Report Preview — Top 100 Cryptocurrency Exchange Credit Rankings Although regulated exchanges performed well, the riskiest exchange to store digital assets on was also regulated. Bad News: Popular exchanges fail basic security practices A number of popular altcoin exchanges rank in the bottom 25, including Liqui and Cryptopia. CDx Report Preview — Top 100 Cryptocurrency Exchange Credit Rankings The second most popular exchange by volume ranked outside of the top 20, thanks to a recent hack and weak security practices.
