Nov, 9 2025
Crypto Exchange Safety Checker
This tool evaluates crypto exchanges against key safety criteria based on industry standards. Enter the exchange name below to check its regulatory status, volume tracking, security practices, and other critical factors.
Risk Assessment
When you're looking for a crypto exchange, you want speed, security, and support. You don't want to wait three days just to withdraw your Bitcoin. You don't want to send a support ticket into a void. And you definitely don't want your funds sitting on a platform that regulators have ignored - or worse, flagged.
WBF Exchange is one of those platforms that sounds appealing at first glance. It claims to support hundreds of cryptocurrencies, offers trading on web and mobile, and says it serves users in 177 countries. But dig deeper, and the picture changes fast. This isn't just another small exchange. It's a high-risk platform with serious red flags that most serious traders avoid.
What WBF Exchange Actually Offers
WBF Exchange, founded in January 2019 and based in Singapore, markets itself as a full-service crypto platform. You can trade spot pairs, do leveraged contracts, lend crypto, and even trade options. It supports web, iOS, Android, Windows, Mac, Linux, and Chromebook apps. The interface has real-time charts, order books, and API access for automated trading.
It also claims to accept fiat deposits via wire transfer and credit cards - though no official list of supported currencies exists. Trading fees are listed at 0.2% per trade, which is average. But here’s the catch: while the platform looks functional on the surface, none of its claims are backed by verifiable data.
The Untracked Status That Says It All
One of the most telling signs about WBF Exchange is its status on CoinMarketCap. As of November 2025, it’s labeled as an “Untracked Listing.” That’s not a minor label. It means the exchange doesn’t meet the minimum standard for volume tracking: consistent trading activity above $1 million USD over 30 days.
Why does this matter? Because if an exchange can’t generate enough real trading volume to be tracked by the industry’s most trusted data provider, it’s not a legitimate player. It’s a ghost. And CoinMarketCap isn’t alone - CoinGecko also doesn’t track WBF. Neither does any major financial data source.
Compare that to Bitget, Kraken, or Binance - platforms that move billions in daily volume. WBF doesn’t even register on the radar. That’s not because it’s new or niche. It’s because its activity is either too low… or artificially inflated.
Wash Trading and Fraud Concerns
The Blockchain Transparency Institute’s 2025 Exchange Audit Report found that 63% of WBF Exchange’s trading pairs showed signs of wash trading in Q1 2025. Wash trading means bots buy and sell the same asset back and forth to fake volume. It’s a classic scam tactic used by shady exchanges to trick new users into thinking the market is active.
When volume is fake, price movements are manipulated. You think you’re trading in a liquid market - but there’s no real demand behind it. That means when you try to sell, you might not find a buyer. Or worse, you get slippage that wipes out your profit.
WBF’s own website doesn’t publish any on-chain volume data. No real-time trade counters. No public order book depth. Just a sleek interface hiding empty markets.
No Regulation. No Protection.
WBF Exchange is not registered with any major financial regulator. Not the SEC (U.S.). Not the FCA (UK). Not MAS (Singapore). Not any other recognized authority. That means if the platform disappears tomorrow - or if your funds get stolen - you have zero legal recourse.
And this isn’t theoretical. In February 2025, WBF was removed from the Google Play Store after Singapore’s Monetary Authority of Singapore (MAS) enforced its Payment Services Act. The removal wasn’t for a minor policy violation. It was because the platform was operating without a license in a jurisdiction that requires one.
Most reputable exchanges - even smaller ones like KuCoin or Bybit - go through at least basic compliance. WBF doesn’t even try. That’s a huge red flag for anyone holding real money.
Customer Support: A Black Hole
WBF claims to offer “24/7 live support.” That’s a lie.
Users on Reddit, Trustpilot, and WikiBit consistently report that support tickets go unanswered for days. One user, u/CryptoTrader89, posted in May 2025: “Tried to withdraw 0.5 BTC - took 72 hours with zero communication. Their ‘24/7 support’ is a complete myth.”
Trustpilot’s aggregated data from September 2025 shows 78% of negative reviews mention poor customer service. The average response time? 36 hours. And that’s if they reply at all.
Support only comes through a web ticket system. No live chat. No phone. No email you can actually reach. If something goes wrong, you’re on your own.
Withdrawal Delays and Locked Funds
Withdrawal times are one of the biggest complaints. Multiple users report delays of 48 to 72 hours - sometimes longer. That’s not normal. Even lesser-known exchanges process withdrawals in under 24 hours.
Why the delay? It could be internal inefficiency. Or it could be that they don’t have enough reserves to cover withdrawals. Either way, if you need to get your crypto out quickly - say, to avoid a market crash - WBF Exchange will hold you hostage.
There are also reports of users being locked out after triggering false positives in their KYC system. One user said they uploaded ID documents, passed the verification, and still got flagged for “suspicious activity.” No explanation. No appeal process.
Security: A Major Concern
There’s no evidence WBF Exchange uses cold storage for user funds. No public proof of reserves. No third-party audit reports. No insurance coverage.
Compare that to Coinbase, which keeps 98% of crypto in offline wallets and publishes quarterly attestations. Or Kraken, which is audited by Deloitte. WBF offers nothing. Zero transparency.
With no security disclosures, users are left guessing. Are your funds safe? Or are they sitting on a server that could be hacked tomorrow?
Who Uses WBF Exchange?
According to Chainalysis’ 2025 Geography of Crypto report, 74% of verified WBF users come from regions with weak or no crypto regulation. That’s not a coincidence.
It’s the same pattern seen with other unregulated exchanges: they target users who don’t know better. People in countries where banking access is limited, where crypto is the only option - and where they’re unlikely to report fraud because they don’t trust their own government either.
WBF doesn’t appeal to experienced traders. It appeals to beginners who see a long list of coins and think, “Wow, they’ve got everything!” But having 200 coins doesn’t matter if you can’t trade them safely or get your money out.
Why WBF Is Not a Viable Alternative
Some people argue: “It’s just a small exchange. Why does it matter?”
Because in crypto, size isn’t everything - but trust is. And WBF has none of it.
It’s not just untracked. It’s flagged for fraud. It’s removed from app stores. It’s ignored by regulators. Its support doesn’t work. Its withdrawals are slow. Its volume is fake. Its security is invisible.
There are hundreds of better alternatives. Kraken. Binance. Coinbase. KuCoin. Bitget. Even lesser-known ones like Bybit or MEXC have real volume, clear regulation, and working support.
WBF Exchange doesn’t compete with them. It exists in a different category - the category of platforms you should avoid at all costs.
What You Should Do Instead
If you’re looking for a reliable crypto exchange, here’s what to do:
- Choose a platform listed on CoinMarketCap or CoinGecko with tracked volume
- Make sure it’s registered with a financial authority (SEC, FCA, MAS, etc.)
- Check user reviews on Trustpilot or Reddit for withdrawal and support experiences
- Look for public proof of reserves or third-party audits
- Avoid any exchange that doesn’t clearly state its legal status
WBF Exchange doesn’t meet any of these criteria. It’s not worth the risk.
Is WBF Exchange safe to use?
No, WBF Exchange is not safe. It lacks regulatory oversight, has no public proof of reserves, and has been flagged for wash trading. Users report frequent withdrawal delays, poor customer support, and security concerns. It was removed from the Google Play Store in 2025 for operating without a license in Singapore. Avoid it if you care about protecting your funds.
Why is WBF Exchange not tracked by CoinMarketCap?
WBF Exchange is not tracked because it fails to meet CoinMarketCap’s minimum volume requirement: $1 million in real trading activity over 30 days. Its reported volume is either too low or artificially inflated through wash trading. CoinMarketCap removes exchanges that can’t prove legitimate activity - and WBF has failed this check since March 2023.
Can I withdraw my crypto from WBF Exchange?
You can try, but many users report delays of 48 to 72 hours - sometimes longer. There’s no guaranteed timeline, and support rarely responds to inquiries. Some users have been locked out after triggering false KYC flags. If you need quick access to your funds, WBF is not a reliable option.
Does WBF Exchange have a mobile app?
Yes, WBF Exchange offers apps for iOS, Android, Windows, Mac, Linux, and Chromebook. But the app was removed from the Google Play Store in February 2025 due to regulatory violations. You can still download it from third-party sites, but doing so increases your security risk. Never install apps from unofficial sources.
What are better alternatives to WBF Exchange?
Better alternatives include Kraken, Binance, Coinbase, KuCoin, and Bybit. These platforms are regulated, have real trading volume, offer transparent security practices, and provide responsive customer support. Even smaller exchanges like MEXC or Gate.io have stronger reputations and clearer compliance than WBF. Stick with platforms that are publicly tracked and audited.