Signs it is a genuine compliance check
- The exchange is registered with the FCA or a comparable regulator and you can verify that independently.
- Requests come through the official app or website, not by private message.
- They ask for identity or source-of-funds documents, never for a payment to release funds.
Signs it is a fake platform
- You are asked to pay a fee, tax or deposit before withdrawing.
- Support is only reachable by chat app or a personal contact.
- The website was registered recently or does not appear on any regulator's register.
What to do next
For a real exchange, respond only through official channels and keep a written record. For a suspected fake platform, stop payments, report to your bank and Action Fraud, and preserve every transaction hash so the deposits can be traced.
If you are looking at your own case rather than reading generally, our cryptocurrency investigation service explains how a case is scoped and worked, the asset tracing hub covers the network-specific work, and our overview of cryptocurrency scam recovery in the UK sets out what is realistic. Asset pages: USDT tracing, Bitcoin tracing and Ethereum tracing. You can also contact the investigations team directly.
Common questions
- How long can a real exchange hold my funds?
- Review times vary. A regulated exchange should explain what it needs and give you a route to complain, including to the Financial Ombudsman where applicable.
- Can the deposits to a fake platform be traced?
- Often yes. Your deposits are recorded on the public ledger and can be followed to see where they were moved.
Have a case you want reviewed?
We scope at intake and tell you honestly whether the onchain data supports a traceable case.