Hotbit Review: Is This Crypto Exchange Safe or a Risk?

When you hear Hotbit, a crypto exchange that once claimed global reach but vanished from major app stores and trust lists. Also known as Hotbit.io, it was once promoted as a fast, low-fee platform for trading altcoins — but today, it’s a cautionary tale. Hotbit isn’t just another exchange that faded away. It’s one of the many platforms that disappeared after users couldn’t withdraw funds, support went silent, and its trading volume turned out to be fake. Unlike regulated exchanges like BiboxEurope or Jupiter, Hotbit never showed real audits, never disclosed its legal entity, and never answered questions about where user money was held.

What makes Hotbit different from other failed exchanges is how it fooled people. It listed hundreds of obscure tokens with no real use case, pumped them with fake volume, and then let prices crash — leaving traders stuck with worthless coins. The platform had no transparent ownership, no clear headquarters, and no regulatory license from any major jurisdiction. It didn’t just lack compliance — it actively avoided it. When Google removed it from the Play Store and Apple pulled it from the App Store, that wasn’t a glitch. It was a red flag the world ignored. Even worse, users reported withdrawal delays that turned into permanent losses. One trader lost $12,000 trying to cash out a small altcoin position. No email replies. No ticket system. Just silence.

Hotbit’s downfall isn’t an accident. It’s a pattern. The same tactics show up in other unregulated platforms like WBF Exchange and CoinCasso — fake volume, hidden ownership, and withdrawal traps. If you’re looking for a place to trade, you need more than low fees. You need accountability. You need proof that your money is safe. Hotbit gave none of that. The few remaining posts about it online are either outdated marketing or desperate users asking for help that never came.

What you’ll find below are real reviews and investigations into Hotbit and similar platforms — not guesses, not hype, but facts from users who lost money and experts who tracked the trail. You’ll see how these exchanges operate, what regulators say about them, and most importantly, where to put your money instead. This isn’t about fear. It’s about staying ahead of the next scam before it takes your coins.