XT.COM exchange profile

Profile of XT.COM: exchange information, markets and recorded details on GradeMarket.

XT.com is a centralized cryptocurrency exchange (CEX) founded in 2018 by Weber Woo. The exchange is incorporated in Seychelles, while its current headquarters are located in Dubai. The platform is officially operated by Fibtc Ltd.

XT.com's primary strengths are its extensive selection of listed tokens, together with dedicated OTC and NFT marketplaces. Its core business is primarily focused on crypto-to-crypto trading rather than direct fiat services.

Key Statistics

• Daily trading volume: Approximately $1–6 billion, depending on the source and reporting period
• Supported cryptocurrencies: More than 1,000–1,300
• Trading pairs: Over 1,300
• Global ranking: Generally ranked between the 20th and 30th largest exchanges worldwide by trading volume

Exchange Type

XT.com is a Centralized Exchange (CEX) offering:

• Spot trading
• Margin trading (3x–20x leverage)
• Futures trading
• OTC trading
• NFT Marketplace
• Staking
• Crypto lending

The Night XT.com Claimed It Was "Wallet Maintenance"—But It Was Actually a Hack

On November 28, 2024, XT.com suddenly suspended withdrawals without providing a detailed explanation, initially stating that the interruption was due to wallet maintenance and upgrades.

A few hours later, blockchain security firm PeckShield detected a suspicious transfer of approximately $1.7 million from one of the exchange's wallets.

Following these findings, XT.com acknowledged that an abnormal transfer involving company-held assets had occurred.

According to the exchange:

• The stolen assets belonged to the company's own reserves rather than customer funds.
• Customer assets were not affected.
• XT.com maintained reserves equal to 150% of customer holdings.

Subsequently, blockchain analytics firm Merkle Science examined the on-chain transactions and suggested that the attack exhibited unusual characteristics. Specifically, the attackers selectively targeted relatively obscure tokens such as FLOKI, while leaving substantial portions of the exchange's assets untouched.

Based on these transaction patterns, Merkle Science noted that the incident could potentially indicate insider involvement rather than a conventional external attack, although this has not been conclusively established.

Fees

Spot Trading

Standard fees for regular users are approximately:

• Maker: 0.05%
• Taker: 0.20%

(Some sources report 0.20% for both maker and taker.)

Futures Trading

• Maker: 0.04%
• Taker: 0.06%
• Crypto deposits: Generally free
• Withdrawals: Fees depend on the selected cryptocurrency and blockchain network.

Security and Trust

XT.com's most significant security event remains the November 2024 hack involving approximately $1.7 million, described above. According to the exchange, customer funds were unaffected.

The platform employs several security measures, including:

• Cold storage for the majority of assets
• Two-Factor Authentication (2FA)
• Anti-phishing codes
• A bug bounty program
• Monthly Merkle Tree-based Proof of Reserves

KYC verification is required for full platform functionality, although certain basic trading features may remain accessible without completing identity verification.

Licenses and Regulation

XT.com states on its website and blog that it operates under a U.S. Money Services Business (MSB) registration.

According to publicly available regulatory databases, its FinCEN MSB registration number is 31000166655899.

It is important to emphasize that MSB registration is an anti-money laundering (AML) compliance requirement rather than a comprehensive exchange license or evidence of active regulatory supervision.

Several independent regulatory databases have likewise noted that XT.com's actual business activities extend beyond the limited scope of this registration.

A search of XT.com's official website reveals an "Official Verification" page. However, this page is intended solely to verify the identities of business development representatives and listing agents in order to prevent listing-related fraud. It does not provide regulatory licensing information.

XT.com does not hold licenses from major financial regulators such as:

• UK Financial Conduct Authority (FCA)
• U.S. Securities and Exchange Commission (SEC)
• Monetary Authority of Singapore (MAS)

According to its own Terms of Service, the exchange does not provide services to residents of:

• United States
• Canada
• China
• Cuba
• North Korea
• Singapore
• Sudan
• Syria
• Venezuela
• Crimea

Deposits and Withdrawals

XT.com is primarily a crypto-to-crypto exchange and does not support direct bank transfers for fiat deposits.

Users wishing to purchase cryptocurrency with fiat currency must use third-party payment providers such as:

• MoonPay
• Banxa
• Mercuryo
• Advcash

These services generally support payments via bank cards or bank transfers.

XT.com also provides a P2P marketplace for buying and selling cryptocurrencies using fiat currencies.

Popular Trading Pairs

• BTC/USDT
• ETH/USDT
• XRP/USDT
• SOL/USDT

.

Pros and Cons

Pros

• Extremely broad selection of listed cryptocurrencies (more than 1,000 assets)
• Wide range of products, including Spot, Futures, Margin, OTC, NFT Marketplace, and Staking

Cons

• Experienced a confirmed $1.7 million security breach in November 2024, with independent analysts suggesting possible insider involvement
• No licenses from top-tier financial regulators; U.S. MSB registration represents only a basic compliance requirement
• No direct fiat bank deposit support, relying entirely on third-party payment providers

Final Rating

5.7/10

XT.com's extensive asset selection and its efforts to improve transparency after the 2024 security incident—such as implementing a public Proof of Reserves program—are positive developments. However, the confirmed security breach, the possibility of insider involvement raised by independent blockchain analysts, the lack of top-tier regulatory licensing, and the uncertainty surrounding services for Persian-speaking users keep its overall rating in the mid-range.

Conclusion

XT.com may be worth considering for traders seeking access to a wide variety of altcoins, OTC trading, and specialized crypto products.

However, users whose priorities include a spotless security record, strong regulatory oversight, and clear, predictable support policies should approach the platform with greater caution and carefully assess the associated risks before committing significant funds.