Verify a decision

{"actor":"system:backfill","investigation_id":"1e2ac659-6a87-484f-acda-a0f0d7c781fa","kind":"publish","page_slug":"xt-exchange","published_at":"2026-05-28T02:27:05.450Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"XT Exchange","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://iq.wiki/wiki/xt","type":"other","url":""},{"credibility":3,"name":"https://www.crunchbase.com/person/albin-warin-032c","type":"other","url":""},{"credibility":3,"name":"https://medium.com/@XT_com/web3-tv-interviews-xt-com-ceo-albin-warin-on-crypto-market-and-nfts-at-crypto-expo-dubai-2023-d49552b22615","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.fca.org.uk/news/warnings/xtcom","type":"other","url":""},{"credibility":3,"name":"https://www.vara.ae/en/regulations/regulatory-notices/vara-consumer-and-marketplace-alert-xt/","type":"other","url":""},{"credibility":3,"name":"https://www.coindesk.com/policy/2025/05/30/thailand-to-block-okx-bybit-and-others-citing-lack-of-license","type":"other","url":""},{"credibility":3,"name":"https://fsaseychelles.sc/media-corner/regulatory-updates","type":"other","url":""},{"credibility":3,"name":"https://www.cryptopolitan.com/dubais-regulator-alert-xt-other-entities/","type":"other","url":""},{"credibility":3,"name":"https://beincrypto.com/thailand-sec-blocks-crypto-exchanges/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.coindesk.com/business/2024/11/28/crypto-exchange-xt-is-hacked-for-1-7-m","type":"other","url":""},{"credibility":3,"name":"https://www.halborn.com/blog/post/explained-the-xt-exchange-hack-november-2024","type":"other","url":""},{"credibility":3,"name":"https://cer.live/blog/xt-com-hit-by-access-control-exploit-1-7m-lost","type":"other","url":""},{"credibility":3,"name":"https://cointelegraph.com/news/crypto-exchange-xt-com-withdrawal-halt-1-7-million-hack","type":"other","url":""},{"credibility":3,"name":"https://beincrypto.com/xt-dot-com-hacked-withdrawals-suspended/","type":"other","url":""},{"credibility":3,"name":"https://cryptoslate.com/xt-exchange-assures-users-after-1-7-million-asset-theft-disrupts-services/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://github.com/ccxt/ccxt/issues/18315","type":"other","url":""},{"credibility":3,"name":"https://www.trustpilot.com/review/xt.com","type":"other","url":""},{"credibility":3,"name":"https://www.brokerhivex.com/en/broker-reviews/68bb286d71f3f","type":"other","url":""},{"credibility":3,"name":"https://xtsupport.zendesk.com/hc/en-us/articles/900006675406-XT-s-Risk-Control-Protocol","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://coinpaprika.com/exchanges/xt/","type":"other","url":""},{"credibility":3,"name":"https://www.brokerhivex.com/en/broker-reviews/68bb286d71f3f","type":"other","url":""},{"credibility":3,"name":"https://www.xt.com/en/accounts/proof-of-reserves","type":"other","url":""},{"credibility":3,"name":"https://xtsupport.zendesk.com/hc/en-us/articles/27400354423961-XT-COM-Announcement-on-Reserves-Disclosure","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.coindesk.com/policy/2025/05/30/thailand-to-block-okx-bybit-and-others-citing-lack-of-license","type":"other","url":""},{"credibility":3,"name":"https://www.vara.ae/en/regulations/regulatory-notices/vara-consumer-and-marketplace-alert-xt/","type":"other","url":""},{"credibility":3,"name":"https://fsaseychelles.sc/media-corner/regulatory-updates","type":"other","url":""},{"credibility":3,"name":"https://cryptonews.com/reviews/xt-exchange-review/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://t.me/s/investigations","type":"other","url":""},{"credibility":3,"name":"https://x.com/zachxbt","type":"other","url":""}]}],"sources_used":[],"summary":"XT Exchange (XT.com), founded in 2018 and registered in Seychelles, is a centralized cryptocurrency exchange that has been flagged by multiple regulatory authorities — including the UK FCA, Dubai VARA, Thailand SEC, and the Seychelles FSA — for operating without proper licensing. The exchange suffered a $1.7 million hot wallet exploit in November 2024 due to a compromised private key, and has accumulated substantial user complaints alleging unjustified account freezing, asset seizure, and blocked withdrawals. Independent analysis has also raised concerns about inflated trading volumes and inadequate proof-of-reserves transparency.","timeline":[{"date":"2018-01-01","event":"XT.com founded by Weber Woo and Ada Too, registered in Seychelles as Fibtc Ltd","source":""},{"date":"2022-03-01","event":"Albin Warin joins XT.com as Global Ecosystem Director","source":""},{"date":"2023-01-01","event":"Albin Warin becomes CEO of XT.com","source":""},{"date":"2024-01-08","event":"XT.com publishes reserves disclosure claiming approximately $56.22 million in total assets","source":""},{"date":"2024-11-28","event":"$1.7 million stolen from XT.com hot wallets via compromised private key; withdrawals suspended for approximately 12 hours. PeckShield identifies the breach.","source":""},{"date":"2024-11-29","event":"Dubai VARA issues Consumer and Marketplace Alert warning that XT.com is not licensed to provide virtual asset services in Dubai","source":""},{"date":"2025-03-25","event":"UK FCA issues warning that XT.com may be promoting financial services without FCA permission and is not authorized or registered","source":""},{"date":"2025-05-30","event":"Thailand SEC files charges against XT.com with the Economic Crime Suppression Division for operating without a license under the Digital Asset Business Act","source":""},{"date":"2025-06-28","event":"Thailand blocks access to XT.com following SEC enforcement action","source":""},{"date":"2026-04-09","event":"Seychelles FSA issues notice stating XT.com is not linked to any entity licensed or regulated by the FSA under the Virtual Asset Service Providers Act","source":""}]},"v":1}