WikiBit Exchange Exit Risk Rankings #47: Crypto.com Exchange — It Secured an EU-Wide MiCA License, So Why Are Users Still Saying, “They Can Freeze Your Account Without Warning”?
Introduction: The Other Side of a “Compliance Star” In the first 46 installments, we investigated a range of exchanges, from HashKey to Bitfinex. For Episode 47, were taking a look at one of the most Hollywood-style names in crypto: Crypto.com. Its résumé in compliance and marketing is almost unmatched: founded in 2016, with more than 140 million users worldwide; one of the first major global crypto-asset service providers to obtain a MiCA license covering the European Union; an SEC investigation that ended with no enforcement action; more than 100 regulatory approvals; a Maltese MiCA license; dual CFTC registrations as a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO); FINRA-registered broker-dealer status; a $700 million deal in 2021 to secure the naming rights to the Los Angeles Lakers‘ home arena; Matt Damon’s “Fortune Favors the Brave” campaign; and sponsorships of Formula 1 and the UEFA Champions League. Sounds like a globally compliant crypto super app, right? But there is another side to the story. Crypto.com has a Trustpilot score of just 2/5, with 72% of ratings being one star. Numerous users complain about sudden account restrictions, funds they can see but cannot access, scripted customer support responses, and cases that remain unresolved for weeks





