VASPCheck

VASP Compliance Summary — XT.COM

XT Exchange Ltd · Exchange · Seychelles

Exported 2026-08-25

Data reviewed 2026-08-04

Overview

Compliance snapshot

Overall regulatory statusNot licensed

EU MiCA statusNo EU authorization

No EU, UK or US exchange authorization disclosed
Seychelles-domiciled operator with a social-trading focus
Trustpilot 2.8/5 · 720 reviews
November 2024 hot-wallet breach of roughly USD 1.7m

High concern

Offshore venue with no tier-one authorization, limited disclosure and a hot-wallet compromise in November 2024.

Authorizations

Licenses & registrations

Jurisdiction	Regulator	Authorization	Status	Reference	Granted
Seychelles	Financial Services Authority Seychelles FSCA · https://fsaseychelles.sc/regulated-entities	VASP registration	Registered	VASP-SC-2022-061	2022-03-17
United States	Financial Crimes Enforcement Network FinCEN · https://www.fincen.gov/msb-registrant-search	MSB registration	Registered	31000-2208-2214	2022-08-19

Reputation

Reputation scores

Trustpilot-style score2.8 / 5

Reviews720

App Store3.9

Google Play3.6

12-month trenddown

Press sentiment (12m)+2 / ~3 / −5

Media

Recent press

Date	Source	Headline & summary	Sentiment
2026-05-27	CoinDesk	XT.COM expands social-trading features Leaderboard trading was extended to more contract pairs.	Neutral
2026-02-05	Reuters	Mid-tier venues struggle with banking access Fiat rails remained limited for offshore operators.	Negative
2025-11-11	Bloomberg	Exchange publishes wallet snapshot A self-reported reserve snapshot was released after user requests.	Neutral
2025-07-23	Financial Times	Supervisor warning over unlicensed services A European supervisor named the venue in a public warning.	Negative
2024-11-29	CoinDesk	XT.COM halts withdrawals after breach Roughly USD 1.7m was drained from platform wallets; withdrawals were suspended.	Negative

Risk events

Incidents & enforcement

Date	Type	Amount	Description
2024-11-28	Hack	USD 1,700,000	Hot-wallet compromise; withdrawals suspended and the venue said user balances were covered.
2025-07-23	Enforcement	—	Public warning by a European national supervisor regarding unauthorized services.

Profile

Key facts

Founded2018

Websitext.com

Fiat currenciesUSD

Proof of reservesNo

Custody modelOmnibus wallets, self-reported snapshots

Legal entitiesXT Exchange Ltd (SC)

XT.COM

Not licensedNo EU authorizationESMA register

XT Exchange Ltd

Exchange🇸🇨 Seychelles Founded 2018xt.com

Visit website

Last reviewed

2026-08-04

Compliance snapshot

No EU, UK or US exchange authorization disclosed
Seychelles-domiciled operator with a social-trading focus
Trustpilot 2.8/5 · 720 reviews
November 2024 hot-wallet breach of roughly USD 1.7m

Overall concern

High concern

Offshore venue with no tier-one authorization, limited disclosure and a hot-wallet compromise in November 2024.

Regulatory

Licenses & registrations

Jurisdiction	Regulator	Authorization	Status	Reference	Granted
🇸🇨 Seychelles	Financial Services Authority SeychellesFSCA	VASP registration	Registered	VASP-SC-2022-061	2022-03-17
🇺🇸 United States	Financial Crimes Enforcement NetworkFinCEN	MSB registration	Registered	31000-2208-2214	2022-08-19

🇸🇨 Seychelles
Registered
VASP registration
Financial Services Authority SeychellesFSCA
VASP-SC-2022-0612022-03-17
🇺🇸 United States
Registered
MSB registration
Financial Crimes Enforcement NetworkFinCEN
31000-2208-22142022-08-19

User signals

Reputation

Trustpilot-style score

2.8/ 5

2.8

720 reviews

Declining (12m)

App ratings

App Store: 3.9
Google Play: 3.6

Press sentiment (12m)

Positive2

Neutral3

Negative5

Media

Recent press

2026-05-27
XT.COM expands social-trading featuresNeutral
CoinDesk — Leaderboard trading was extended to more contract pairs.
2026-02-05
Mid-tier venues struggle with banking accessNegative
Reuters — Fiat rails remained limited for offshore operators.
2025-11-11
Exchange publishes wallet snapshotNeutral
Bloomberg — A self-reported reserve snapshot was released after user requests.
2025-07-23
Supervisor warning over unlicensed servicesNegative
Financial Times — A European supervisor named the venue in a public warning.
2024-11-29
XT.COM halts withdrawals after breachNegative
CoinDesk — Roughly USD 1.7m was drained from platform wallets; withdrawals were suspended.

History

Incidents & enforcement

2024-11-28HackUSD 1,700,000
Hot-wallet compromise; withdrawals suspended and the venue said user balances were covered.
2025-07-23Enforcement
Public warning by a European national supervisor regarding unauthorized services.