Which exchanges have gone bankrupt

As of 2024, major cryptocurrency exchanges that have closed down or collapsed due to supervision, hacking, liquidity or fraud: 1. FTX (banked in November 2022, freezing user funds, partial compensation); 2. Celsius Network (banked in July 2022, some users received compensation); 3. Voyager Digital (banked in July 2022, about 35% of the assets); 4. BlockFi (banked in November 2022, some users are claiming); 5. Genesis Global (banked in January 2023, and user funds are not fully returned).

As of 2024, the cryptocurrency industry has experienced multiple rounds of market fluctuations, and some exchanges have closed down or stopped operations due to regulatory pressure, hacking, liquidity crises or fraud. Here are the main exchanges that have collapsed or stormed in recent years (sorted by time):

---

1. Well-known exchanges that went bankrupt from 2022 to 2024

(1) FTX (bank in November 2022)

• Incident: Founder SBF was sentenced for misappropriating user funds and liquidity runs.

• Impact: User funds are frozen and reorganized (partial compensation may be returned in the form of debt).

• Official website:https://ftx.com (Trading is no longer possible)

(2) Celsius Network (Bank in July 2022)

• Event: Crypto lending platform, causing a run due to high leverage and StETH dean.

• Current situation: Some users will receive compensation in 2024 (in the form of Bitcoin/Ethereum).

(3) Voyager Digital (Bank in July 2022)

• Event: Three Arrow Capital (3AC) is implicated and is insolvent.

• Current situation: The user has received compensation of about 35% of the assets (acquisition of part of the claims through Binance.US).

(4) BlockFi (bank in November 2022)

• Event: Chain reaction after FTX burst, withdrawals were suspended.

• Current situation: In 2023, small withdrawals will be gradually resumed, and some users are claiming.

(5) Genesis Global (Bank in January 2023)

• Event: Gemini Earn partner, dragged down by Sanjiang Capital and FTX incidents.

• Current situation: The parent company DCG attempts to reorganize, but the user funds have not been fully returned.

---

2. Small and medium-sized exchanges that storm/run away from 2023-2024

Exchange	event	User Fund Status
Hotbit	It suspended operations in May 2023, saying it "cooperates with the investigation"	Some withdrawals are open, with serious delays
AEX (Anyin)	Liquidity Crisis in 2023, Restricted Coin Withdrawal	Not fully redeemed
Hoo (Tiger Talisman)	2022 crashes and stops operations in 2023	User assets freeze
Zipmex	Withdrawals suspended in 2022, Thailand's regulatory intervention	Partial compensation plan is underway

---

3. High-risk exchanges (beware)

The following exchanges have been exposed many times that they have difficulty withdrawing and are suspected of running away. It is recommended to avoid using them:

• Bitrue (suspended withdrawals multiple times)

• CoinFLEX (Bankruptcy Reorganization in 2022)

• Bittrex Global (closed U.S. business in 2023)

• LBank (frequently launched fraud coins)

---

4. How to protect asset security?

1. Select a compliant exchange: Priority is given to regulated platforms such as **Coinbase, Kraken, Binance (non-US version)**.

2. Withdraw coins to cold storage: Large amounts of assets are stored in hardware such as Ledger/Trezor.

3. Beware of high-yield traps: avoid "guaranteed financial management" and "super high annualized" projects.

4. Verify the exchange qualifications:

   • Check outCoinGecko 's exchange trust score.

   • Search for the latest reports on "Exchange Name Running/withdrawal Issues".

---

5. How to recover user funds?

• Bankruptcy Exchange: Debt application (such as the FTX claim process).

• Runaway Platform: It is usually difficult to recover, so you can try a class action lawsuit (such as a case against Voyager).

---

Summarize

• The large offices have been closed: FTX, Celsius, BlockFi, Voyager, etc.

• High-risk platforms: Hotbit, Hoo, AEX and other withdrawal difficulties.

• Security advice: Spread assets and give priority to the use of top exchange cold storage.

If you need to check the latest status of a certain exchange, you can provide the name and I will assist in verifying it!

The above is the detailed content of Which exchanges have gone bankrupt. For more information, please follow other related articles on the PHP Chinese website!