Is Crypto.com Safe? A 2025 Security Deep-Dive With Real Numbers

Methodology: How We Assess Exchange Safety

Our evaluation uses eight pillars. Each carries a weight, ensuring no single metric skews the score. Let’s take a look at the definitions of these metrics, what they mean, and how much weight they carry. 

• Custody & Storage: Cold vs hot wallet split, multi-sig, third-party custodians. Sources: DeFiLlama, official disclosures.
• Proof of Reserves: Verification that assets ≥ liabilities. Sources: PoR reports, Merkle proofs, DeFiLlama.
• Insurance: Coverage amount, underwriters, exclusions. Sources: Crypto.com insurance news, policy details.
• Regulation & Licensing: Registrations with bodies like MAS, FCA, MFSA, FinCEN. Verified via regulator databases.
• App Security & Account Controls: User-level safeguards (2FA, whitelisting, biometrics). Sources: Platform docs, CER.
• Incident Response & Track Record: How Crypto.com responds to hacks or outages. Sources: News reports, historical timelines.
• User Experience & Interface: Simplicity and visibility of security controls. Sources: User feedback, app reviews.
• Support: Customer service efficiency during routine and incident cases. Sources: Support policies, user reports

Weightage of the above criteria:

Crypto.com Security by the Numbers (2025)

When evaluating an exchange, the numbers behind its custody, audits, and insurance matter more than any marketing pitch. Crypto.com has leaned on a mix of self-custody, attestations, and live transparency feeds to prove its resilience. Let’s unpack the key components..

Read our full Crypto.com review.

Custody & Storage Architecture

Crypto.com manages its own wallets and keeps customer assets fully reserved on a 1:1 basis. Operations are split between hot and cold wallets secured with HSMs and role-based access.

Withdrawals require address whitelisting, which is locked for 24 hours when new addresses are added, and trusted device management reduces account-takeover risk. Passkeys are now supported across both the App and Exchange, giving users phishing-resistant authentication.

Unlike some competitors, the company does not disclose an exact cold-versus-hot wallet percentage. Historically, cold storage has been insured through Ledger Vault, while hot wallets remain tightly permissioned for operational use. For users seeking visibility, on-chain dashboards provide real-time snapshots of reserves by asset and chain (though they do not distinguish “cold” from “hot.”)

As of Sept. 15, 2025, DeFiLlama reports roughly $3.88 billion in exchange-controlled assets. Nansen and Crypto.com’s Proof of Reserves (PoR) pages can be used together to cross-check these balances.

For institutional clients in North America, Crypto.com Custody Trust Company offers segregated custody arrangements, paired with dedicated insurance.

Proof of Reserves: Method, Frequency, Latest Attestation

The first public PoR was launched with Mazars in December 2022 using a Merkle-tree design. Customers could verify their holdings by matching their Merkle leaf against the published root. That audit covered nine major assets (BTC, ETH, USDC, USDT, XRP, DOGE, SHIB, LINK, MANA) across both spot and margin accounts.

Reserve ratios of these cryptocurrencies are divided in the snapshot as follows:

The final attestation was captured at 00:00 UTC, 7 December 2022, and published two days later. Shortly after, Mazars exited all crypto PoR engagements. Since then, Crypto.com has relied on continuous transparency via Nansen and its own PoR portal. Users can still verify live wallet balances, but Merkle-leaf verification refers back to the 2022 snapshot.

To confirm holdings today, start at the PoR portal, which links both Nansen dashboards and the archived Mazars Veritas methodology.

Check out the top blockchain analytics platforms like Nansen.

Insurance & What It Actually Covers

Crypto.com’s insurance program remains one of the largest in the industry. It expanded to $750 million in 2021, led by Arch Underwriting at Lloyd’s Syndicate 2012, primarily covering cold storage on Ledger Vault against theft and physical loss. In Q1 2025, its Custody Trust Company added another $120 million of dedicated coverage via Aon, split between $100 million in cold storage and $20 million for crime/theft.

On the retail side, the Account Protection Program (APP) offers up to $250,000 in goodwill compensation for unauthorized access in eligible markets, provided users meet security prerequisites such as 2FA, anti-phishing codes, and timely incident reporting. Exclusions apply where users themselves authorize the transfer, such as social engineering cases. The live APP policy lists all eligible regions.

App & Account Security Controls

Security also extends to everyday account usage. Fund transfers require TOTP 2FA, while passkeys can be configured for login and withdrawals, with up to ten keys per account. Optional hardware keys add another layer of resilience, and biometrics provide a seamless login layer on mobile devices.

Withdrawals are protected by mandatory address whitelisting, enforced with a 24-hour lockout for new entries. Additional safeguards include device management, login session visibility, alerting, and anti-phishing codes. Crypto.com Verify ensures that users can authenticate official communications from the company, cutting down the risk of phishing emails.

Data Protection & Compliance Standards

Crypto.com holds a comprehensive suite of certifications: ISO/IEC 27001 (information security), ISO/IEC 27701 (privacy), ISO 22301 (business continuity), PCI DSS v4.0 for card data security, and a SOC 2 Type II attestation. The PCI DSS v4.0 upgrade was confirmed in October 2024, while ISO and SOC renewals have been announced at regular intervals since 2020.

Independent assessments reinforce this position. CER.live currently lists Crypto.com in its AAA-rated exchange cohort, placing it among the most secure centralized platforms in the industry.

Coverage and Users

Finally, reach matters. According to company disclosures, Crypto.com now serves more than 150 million users across over 100 jurisdictions. Availability differs slightly by product and region, so users should confirm access through the official app or web availability list before onboarding.

Regulation & Licensing (Jurisdiction by Jurisdiction)

Security on paper is only as strong as the legal frameworks that back it. Crypto.com has spent the past five years aggressively pursuing compliance in every market where it operates. Currently, the exchange holds licenses or registrations in nearly all major regions, each with its own regulatory scope.

• United States: Registered as a Money Services Business (MSB) with FinCEN under ID 31000214849531, and also maintains multiple state-level Money Transmitter Licenses (MTLs). Coverage extends to fiat conversion, custodial services, and spot crypto trading.
• European Union: Preparing for the implementation of MiCA (Markets in Crypto-Assets), with interim registrations underway across member states, including France and Spain. Crypto.com has positioned itself for passporting rights once MiCA goes live in 2026.
• United Kingdom: Registered with the Financial Conduct Authority (FCA) as Foris DAX UK Limited under firm reference number 944788, authorized for cryptoasset activities.
• Singapore: Holds a Major Payment Institution (MPI) license under the Monetary Authority of Singapore (MAS), permitting digital payment token (DPT) services.
• Malta: Crypto.com is registered with the Malta Financial Services Authority (MFSA) under company number C88392, covering exchange and custody services.
• Australia: Enrolled with AUSTRAC as a digital currency exchange provider.
• Canada: Registered as a Restricted Dealer in Ontario, with ongoing licensing efforts across other provinces.
• UAE: Licensed by VARA (Dubai Virtual Assets Regulatory Authority) for exchange operations in Dubai’s free zones.

These licenses create a patchwork of coverage, but collectively, they give Crypto.com the ability to serve over 90 countries with regulatory recognition. Local feature differences do apply: for example, derivatives remain unavailable in the UK, while in Singapore, leverage is capped under MAS rules.

Past Incidents & Response Timeline (What Changed After 2022)

No discussion of Crypto.com’s safety is complete without revisiting its most high-profile incident: the January 2022 hack. 

January 2022 Incident: Facts & Figures

On Jan. 17, 2022, attackers compromised around 483 accounts through bypassed 2FA systems, draining approximately $35 million in BTC, ETH, and other tokens. The breach was detected within hours, and withdrawals were temporarily suspended. Crypto.com reimbursed all affected users directly, avoiding customer losses. Postmortems identified the weak link as flawed 2FA implementation, not a breach of cold storage.

Post-Incident Hardening

The 2022 attack acted as a turning point. In its aftermath, Crypto.com rolled out multiple systemic upgrades:

• Mandatory MFA/2FA enforcement across all accounts (Feb 2022).
• Risk monitoring engines capable of flagging abnormal withdrawal patterns (Q2 2022).
• Withdrawal address whitelisting with a 24-hour lock period (rolled out mid-2022).
• Regular PoR cadence with public dashboards (launched Dec 2022).

These controls hardened both the user layer and backend processes, reducing attack surfaces.

Industry Benchmarking of Response

When stacked against competitors, Crypto.com’s 2022 remediation was relatively swift. Binance disclosed its $570M BNB Chain exploit within 24 hours, while Kraken has a reputation for real-time disclosure. Crypto.com fell in the middle, with disclosure and reimbursements occurring within 48 hours. 

Where the exchange stands out is in user protection. After the hack, all affected customers were fully reimbursed, a policy not guaranteed across the industry. By comparison, exchanges like Mt. Gox and Cryptopia never made customers whole.

Since then, Crypto.com has avoided major breaches and maintained a clean record, reinforcing its position as a top-tier exchange with lessons learned from past failures.

Step-by-Step: Locking Down Your Crypto.com Account 

Securing your Crypto.com account doesn’t take hours; you can lock down the basics in less than five minutes.

5-Minute Essentials (Beginner)

Here’s a step-by-step walkthrough, with each control linked directly to Crypto.com’s Help Center for reference: 

Turn on TOTP 2FA

Go to App → Settings → Security → 2FA and enable an authenticator app (e.g., Google Authenticator, Authy). TOTP is required for withdrawals, fiat outflows, and whitelisting. Avoid SMS, which is vulnerable to SIM swaps.

Set your Anti-Phishing Code

Add a personal code under Settings → Security → Anti-Phishing Code. This code appears in all official Crypto.com emails, making phishing attempts stand out. Refresh it monthly.

Enable the 24-Hour Withdrawal Lock

Activate the 24-Hour Withdrawal Lock in your settings to stop attackers from moving funds immediately, even if they compromise your login.

Disabling this feature takes 24 hours to go into effect. As an added layer, you can also create a whitelist of trusted addresses. Add your trust addresses through Wallet → Deposit & Withdrawal → Withdrawal Whitelist and create a whitelist. Once added, addresses can’t be changed without a 24-hour delay. Always run a dust-test ($0 transfer) before sending larger amounts.

Verify Your Device

Under Settings → Security → Devices, mark your phone as “Trusted.” Remove any unrecognized devices.

Know the “Lock Account” Switch

If you see suspicious activity, use the One-Button Lock via app alert or chat.crypto.com to freeze your account instantly.

A couple of other things you can do are to always verify messages. Use Crypto.com Verify to confirm links, emails, and social handles before interacting. Combine this with your Anti-Phishing Code and security notifications for a double check.. These real-time alerts let you react instantly.

20-Minute Advanced Setup (Intermediate/Pro)

Add Passkeys and a Hardware Key

Passkeys are phishing-resistant and can’t be replayed like passwords. A hardware key (e.g., YubiKey) provides an offline fallback if your phone is compromised. You can register up to 10 keys across App and Exchange.

How: Exchange Web → Profile → Security → Account Password & 2FA → Add Passkey. Store at least one on a hardware security key kept offline.

Make Whitelisting + Withdrawal Lock Non-Negotiable

These controls stop fast-drain attacks, even if your session gets hijacked. The 24-hour lock ensures you have a buffer to intervene.

How: Keep the 24-hour withdrawal lock enabled at all times and only send to whitelisted addresses you control.

Harden API Access (if you use bots, tax tools, or portfolio apps)

APIs are powerful but dangerous if left unrestricted. Limiting scope reduces the risk of automated drains.

How: Create API keys as Read-only by default. If you must enable trading/withdrawal, restrict access by IP and rotate keys after audits.

Segment Funds with Sub-Accounts

Sub-accounts let you split balances and strategies. This reduces the blast radius if one account or API key is compromised. 

How: Use the Sub-Accounts feature to isolate “coldish” trading float from your active positions. Assign separate API keys to each.

Email and Password Hygiene

Your exchange credentials are the keys to your vault. Using dedicated and unique credentials lowers the chance of compromise. 

How: Create a unique email alias for your Crypto.com account, with a separate recovery email hosted at a different provider. Store a 20+ character password in a manager (e.g., 1Password, Bitwarden). Securely back up your authenticator’s seed/QR so you can restore TOTP if your phone is lost.

Device and Session Policy

Keeping clean devices is as important as strong credentials. Jailbroken or rooted phones bypass app security requirements.

How: Always keep 2FA on a separate device if possible. Remove unused devices from Trusted Devices in settings. Never use rooted/jailbroken devices for logins.

Ongoing Maintenance Calendar

Exchanges are prime targets for cybercriminals. Regular maintenance of a crypto exchange helps identify and patch vulnerabilities to protect user funds and data. However, maintenance from the user end is usually ignored, and this is equally important to keep their crypto safe.

Users of Crypto.com can easily keep their accounts safe on their own side with monthly and quarterly checks. 

Monthly

• Review the Devices list; remove anything unfamiliar. Crypto.com Help Center
• Scan Security Settings History and recent emails for whitelist or lock changes. Crypto.com Help Center
• Re-run a $0 test on any new whitelisted address you plan to use.

Quarterly

• Rotate account password; confirm your password manager has a current entry.
• Re-validate passkeys and your hardware key still works; keep at least one backup passkey on a separate device.
• Audit API keys: delete unused, re-confirm IP allowlists, ensure permissions are minimal.

After each promo/integration

Recheck permissions granted to third-party apps. Prefer Broker/“connection” flows that don’t expose your IP list publicly and keep allowlists constrained. Crypto.com Help Center

If you ever suspect compromise

• Hit One-Button Lock immediately and contact support via in-app chat
• Change your email password and enable that mailbox’s 2FA before unlocking anything.
• This sequence closes the most common attack paths, such as phishing, SIM-swap fallout, session hijack, and API misuse. All using the controls Crypto.com already exposes.

Experts at Coin Bureau have curated a guide for you to help keep your crypto safe with just a few simple steps.

Risks You Still Carry (and How to Mitigate Them)

Even with Crypto.com’s multi-layered security, no exchange is risk-free. The reality is that some risks fall outside the company’s direct control, and users need to recognize them early. Below, we break down the three major categories of risk, which are platform, user-side, and product-specific risks. We have also given an outline on how to reduce exposure.

Platform Risks

Centralized platforms can suffer downtime, wallet maintenance pauses, or service restrictions in certain regions. In extreme cases, liquidation cascades during high volatility can overwhelm exchange engines, leading to frozen balances or delayed withdrawals. These are systemic to all CEXs.

How to mitigate:

• Never keep more on-exchange than you need for active trading.
• Use hardware wallets or cold storage for long-term holdings.
• Set up market alerts so you’re not caught in sudden downtime during a price move.
• Diversify across exchanges if you trade heavily, so one outage doesn’t lock up your entire position.

User-Side Risks

The majority of crypto thefts still happen at the user layer, not through exchange breaches. Phishing emails, SIM-swaps, malware-infected devices, and fake “support agent” scams are some of the most common attack vectors. Even with Crypto.com’s anti-phishing codes and withdrawal locks, if an attacker gets control of your login device or tricks you into confirming a transaction, the risk is real.

How to mitigate:

• Use passkeys or hardware security keys instead of SMS-based authentication.
• Stick to strict whitelist discipline: only pre-approve wallets you control.
• Keep trading activities on a clean device (segregated from casual browsing or downloads).
• Learn to spot scam tells: poor grammar, urgency pressure, or messages sent outside official channels.

Product-Specific Risks

Crypto.com’s product suite goes far beyond spot trading, and each feature carries its own risks. Earn programs depend on counterparties to generate yield, meaning insolvency or rehypothecation can create hidden exposures. Derivatives magnify liquidation risk. The prepaid Visa card ties into external partners, and rate changes can affect cashback returns. The NFT marketplace, meanwhile, depends on buyer-side demand and carries illiquidity risk.

How to mitigate:

• Treat Earn and yield products as higher-risk investments; size them conservatively.
• Keep derivatives positions small relative to your liquid capital.
• Read partner terms for card/NFT programs before committing significant funds.
• Use off-exchange wallets to hold NFTs you don’t plan to flip quickly.

Worry not, you can mitigate trading risks with these proven crypto strategies now.

Customer Support, SLAs & Incident Handling

Another crucial aspect of security is also about how quickly problems get solved. Crypto.com offers multiple support channels: in-app live chat, email, and an extensive Help Center. Phone support is not provided unless needed for the escalation of the issue.

Complaints regarding the service offered by the exchange should be sent via email to [email protected], which is addressed to the official complaints department. The exchange promises to solve the complaints of their users “by no later than fifteen (15) working days from the date of the submission of the complaint.”

However, if the complaint is not solved or the user is not satisfied with the response, then they can escalate the complaint and write to the official address.

For critical incidents like suspicious logins or locked accounts, Crypto.com’s One-Button Lock feature instantly freezes access, while the support team guides users through identity verification and recovery. Escalations are tiered: frontline chat agents handle first responses, while security specialists deal with fraud cases and withdrawal disputes.

Best practices for users:

• Keep records of support chats and ticket numbers for follow-up.
• Use in-app chat instead of email for urgent cases; it’s faster and tied to your verified account.
• Bookmark the official status page to verify whether an issue is platform-wide or unique to your account.

User Reputation: Review & Sentiment 

App store and forum reviews highlight recurring themes. Here’s how users describe their Crypto.com experience in 2024–2025:

Apple App Store & Google Play Ratings

Google Play Rating: ~3.4/5 (1M+ reviews)

Positives

“Super easy to set up, the app is very intuitive.”
“Great app, the Crypto.com Visa card is really convenient.”

Negatives (KYC, Withdrawals)

“Verification took forever, couldn’t deposit for weeks.”
“Tried withdrawals multiple times, always failed.”

Recurring Bugs

“Portfolio didn’t update for days.”
“Tokens not showing correctly until I reinstalled the app.”

Bottom Line: Android users appreciate the Visa card and app layout, but frequent reports of bugs, KYC delays, and withdrawal friction drag ratings down.

Apple App Store Rating: ~4.5/5 (100K+ reviews, US store)

Positives

“Easy to use, very smooth on iPhone.”
“Card cashback is a nice perk.”

Negatives (KYC, Withdrawals)

“Deposit via bank kept failing in my region.”
“The refund process was slow when my card got declined.”

Recurring Bugs

“App froze during staking setup.”
“Push notifications not working reliably.”

Bottom Line: iOS users report smoother overall performance and higher satisfaction, though regional deposit issues and occasional app glitches still surface.

Social & Forums (Reddit / Twitter / Trustpilot)

Reviews offer insights into an exchange's history, user experience, security, fees, and customer support. Plus, active users publish their reviews daily, so they give you an idea of any potential issues or strengths at any time of the year.

Reddit

Support Delays & Frustration

“I’ve been stuck in a chat … for 12 hours now … asked the same verification details THREE times.” (reddit.com)
“My card is frozen, funds blocked, and nobody from support responds.”

Scams vs User Errors

“Approved a dApp thinking it was legit - ended up losing ETH. The blame ends up on the user, but the UX misled me.”
“Video verification step broke, uploaded video, but they rejected saying wrong format. Then claim non-compliance.”

Resolved Cases / Escalations

Threads show that public exposure or repeated follow-ups sometimes lead to real resolution. Users report support escalating issues after Reddit posts.

Bottom Line (Reddit)

Reddit feedback is heavy on frustration with customer service, especially when stuck in loops. But community power helps get traction for resolution more often than in complaint sites.

Twitter

Visibility & Complaints

Users tweet about unexpected hold times, unprocessed withdrawals, or downgrades of features across regions.
“Why is my staking reward not showing after two weeks?”

Company Response

On Twitter threads, Crypto.com occasionally replies with status updates or clarification. Responsiveness here seems better when issues are public and visible.

Scam Warnings

High frequency of user warnings about phishing links, fake support accounts. Many retweet official tips from Crypto.com on verifying emails or using anti-phishing codes.

Bottom Line (Twitter)

Twitter amplifies early complaints, gives a fast feedback loop. Good channel for visibility. But fixes are slower unless the issue gains traction.

Trustpilot

Customer Support Issues

“Support is an absolute joke wherein you’re irrationally led around circle after circle.”

“Withdrawals are the main problem … many abortive attempts.”

Fees & Hidden Policies

“Ridiculous limits and hold times.”
“They charge too much withdrawal fees … lost money I didn’t expect to lose.”

Mixed Resolutions

A small fraction of reviews are positive, often from long-time users who finally got their issue resolved after persistent follow-ups. But many remain unresolved or partially resolved.

Bottom Line (Trustpilot)

Trustpilot feedback paints a picture of users feeling stuck with policies and delays. Transparency, especially on fees and limits, is a frequent complaint. Some positive resolution stories exist, but they’re drowned by negative ones in volume.

Security Feature Comparison: Crypto.com vs Coinbase, Kraken, Binance, OKX

The final steps to evaluating a platform’s security are comparing its security features to the best of the industry standards. This choice builds confidence in a platform's trustworthiness.

Control-by-Control Matrix

The above matrix clearly shows us that no single exchange dominates in every control. Coinbase is strongest on regulatory compliance and bounty payouts, Kraken leans on conservative security traditions, Binance and OKX depend heavily on fund reserves, while Crypto.com focuses on insurance coverage and mandatory address whitelisting.

For a retail trader, Crypto.com’s enforced whitelists and large insurance pool offer real peace of mind. For institutions, Coinbase’s custody and regulatory posture remain the gold standard. Advanced users may gravitate toward Kraken’s reputation for transparency and reliability.

Who Should Use Which (Use-Case Fit)

• Beginners: Crypto.com’s clean mobile app, enforced whitelists, and strong insurance pool reduce risks for first-time users.
• Card Users & Earn Program Fans: Crypto.com edges out with its Visa card ecosystem and tiered earn products, though users must weigh product-specific risks.
• NFT Traders: Binance and OKX dominate with deeper NFT integrations, while Crypto.com’s marketplace caters better to casual collectors.
• Derivatives Traders: Kraken and Binance lead for derivatives depth and professional tooling, while Crypto.com’s offering is serviceable but narrower.
• Compliance-Conscious Institutions: Coinbase stands apart with audited custody, SEC oversight, and the broadest Western regulatory alignment.

The choice is less about who is “best overall” and more about aligning exchange strengths with user needs.

Is Crypto.com Safe for You? (Persona-Based Verdicts)

Safety isn’t one-size-fits-all. Your risk profile is based on the way you use the exchange, whether to store long-term holdings, trade actively, swipe the card, or just to interact with Web3. Let’s break down what that means in practice.

Long-Term Holders (HODLers)

For those parking assets for months or years, the key is minimizing exposure. It’s wise to keep only a small float on Crypto.com for quick trades, while moving the bulk into cold storage. Adding withdrawal whitelists and layering alert stacks helps safeguard against unauthorized drains. In short, HODLers can lean on Crypto.com’s custody structure, but they should double down with their own redundancy.

Active Traders

Daily and high-frequency traders face a different reality; security must balance speed. Here, API key hygiene is non-negotiable, limiting permissions, rotating keys, and tying them to IP allow-lists reduces exploit risks. Sub-accounts create an extra wall, letting traders compartmentalize funds. Withdrawal delays, though inconvenient, add a final layer of friction against theft. For this group, Crypto.com’s layered defenses align well with the tempo of trading.

Start your crypto trading journey with our latest guide on crypto trading.  

Card-First Users

Crypto.com’s Visa card ecosystem brings its own quirks. While card rewards remain attractive, cardholders must factor in MCC category risks, ATM hygiene, and the potential for lost or stolen cards. The app’s freeze/unfreeze function makes it easier to lock down compromised cards quickly, but vigilance remains on the user. Those treating Crypto.com primarily as a payment tool should think less about cold storage and more about everyday safeguards.

Web3/NFT Users

Finally, users bridging into decentralized apps for accessing the Web3 world (DeFi, NFT, etc.) face risks unique to smart contracts and approvals. Here, wallet segregation of keeping a “clean” wallet for exchanges and a separate one for experiments is essential.

Running test transactions before sending large amounts and regularly using revoke tools to clean up lingering approvals can sharply reduce exposure. Crypto.com provides the access point, but responsibility multiplies once assets leave its walled garden.