Radar / Crypto-asset service provider
EXMO (EXMO.com)
Crypto-asset service provider United Kingdom (group offices in Poland/Lithuania) exmo.com ↗
Reviewed 2026-11-10
Our verdict
High risk
We found serious problems with this provider.
- No current authorisation confirmed in any official register. The firm claims Polish VASP register entry and Lithuanian registration. In 2020–21 it held only a temporary …
- Following the UK designation, custodians, exchanges, banks and payment providers reportedly froze part of user assets, and the platform said operations were almost …
- The UK FCDO designated EXMO EXCHANGE LIMITED (ID RUS3602) on 26 May 2026 under the Russia (Sanctions) (EU Exit) Regulations 2019, with an asset freeze; the listing names …
What should I do?
- Do not send money, card details or ID documents.
- If you already paid: contact your bank or card issuer at once and ask for a chargeback.
- Report the provider to your financial regulator or the police.
Based on public sources at the date of review. Not a finding that the company acted unlawfully; the company can respond below.
Questions about EXMO (EXMO.com)
Is EXMO (EXMO.com) licensed?
RatEx42 could not confirm a valid licence for what EXMO (EXMO.com) does. No current authorisation confirmed in any official register. The firm claims Polish VASP register entry and Lithuanian registration. In 2020–21 it held only a temporary FCA registration, and the ASA noted it was unregulated in the UK.
Has a regulator taken action against EXMO (EXMO.com)?
The UK FCDO designated EXMO EXCHANGE LIMITED (ID RUS3602) on 26 May 2026 under the Russia (Sanctions) (EU Exit) Regulations 2019, with an asset freeze; the listing names EXMO POLAND SP Z.O.O. as a subsidiary. The EU's 21st Russia package (23 July 2026) added EXMO Ltd to a transaction ban effective 23 August 2026 (a transaction ban, not an asset freeze).
Who owns EXMO (EXMO.com)?
UK Companies House lists directors and PSCs, but control changed repeatedly in 2026: the filing history shows Serhii Zhdanov's directorship terminated 9 Feb 2026, Anna Kovalchuk appointed 9 Feb and terminated 27 May 2026 (the day after the UK designation), and Liudmyla Akymenkova appointed 25 June 2026.
Is EXMO (EXMO.com) safe to use?
RatEx42 rates EXMO (EXMO.com) Red as of 2026-11-10: RatEx42 found serious concerns in public sources. The signal is an assessment of public information, not a finding of unlawful conduct and not advice. Always check the licence in the official register yourself.
Are there complaints about EXMO (EXMO.com)?
Trustpilot carries recurring reports of blocked or delayed withdrawals, extended verification and unresponsive support. EXMO's own notice states that 29.4% of obligations are uncovered and replaced by a non-withdrawable claim token; the company has set no final withdrawal deadline. Some reviews are positive.
Answers are generated from this profile (reviewed 2026-11-10). Sources are linked in “The full check” below.
About
EXMO is a centralised crypto exchange founded in 2013/2014, operated through EXMO Exchange Ltd (UK company 11655602, London) with a Polish subsidiary, EXMO Poland sp. z o.o. On 26 May 2026 the UK FCDO designated EXMO Exchange Limited under its Russia sanctions regime (asset freeze). The EU's 21st Russia sanctions package (adopted 23 July 2026) added EXMO Ltd to a transaction ban effective 23 August 2026, and Binance announced it would block transactions with EXMO from the same date. On 14 July 2026 EXMO.com announced an orderly wind-down, citing the sanctions, and reported a 29.4% shortfall in client obligations, replaced by a non-tradable "USDRecover" claim token. Companies House still lists the company as active. Trustpilot carries numerous withdrawal and verification complaints.
Read more
EXMO is a centralised crypto exchange founded in 2013/2014, operated through EXMO Exchange Ltd (UK company 11655602, London) with a Polish subsidiary, EXMO Poland sp. z o.o. On 26 May 2026 the UK FCDO designated EXMO Exchange Limited under its Russia sanctions regime (asset freeze). The EU's 21st Russia sanctions package (adopted 23 July 2026) added EXMO Ltd to a transaction ban effective 23 August 2026, and Binance announced it would block transactions with EXMO from the same date. On 14 July 2026 EXMO.com announced an orderly wind-down, citing the sanctions, and reported a 29.4% shortfall in client obligations, replaced by a non-tradable "USDRecover" claim token. Companies House still lists the company as active. Trustpilot carries numerous withdrawal and verification complaints.
The full check
🪪LicenceLicensing & registrationProblem
No current authorisation confirmed in any official register. The firm claims Polish VASP register entry and Lithuanian registration. In 2020–21 it held only a temporary FCA registration, and the ASA noted it was unregulated in the UK. The Polish VASP regime ended 1 July 2026 with no MiCA CASP authorisation, and a MiCA tracker lists EXMO as not licensed. The platform is now winding down under UK and EU sanctions.
- EXMO's own claim: Lithuanian certification and Polish virtual currency register entry (self-reported, not verified against the register)
- EXMO states it held only a temporary FCA registration until July 2021
- Tracker lists EXMO as not MiCA/CASP licensed
- Polish VASP registration provides no basis to continue services after 1 July 2026
- ASA ruling: ad needed to state that Exmo Exchange Ltd and cryptocurrency were unregulated in the UK
👥Who owns itOwnership & controlCaution
UK Companies House lists directors and PSCs, but control changed repeatedly in 2026: the filing history shows Serhii Zhdanov's directorship terminated 9 Feb 2026, Anna Kovalchuk appointed 9 Feb and terminated 27 May 2026 (the day after the UK designation), and Liudmyla Akymenkova appointed 25 June 2026. The historical parent was a Malta company (PSC ceased Feb 2023), and there is a Polish subsidiary. A Russia-facing sibling (EXMO.me) is alleged to share wallet infrastructure; group structure transparency is limited.
- Filings: Zhdanov terminated 9 Feb 2026; Kovalchuk appointed 9 Feb, terminated 27 May 2026; Akymenkova appointed 25 June 2026 (filed 8 Jul 2026)
- Officers list: five officers, four resigned (Petuhovschii, Kay, Lyubavskaya, Dangerfield)
- Former corporate PSC Exmo Enterprise Ltd (Malta, C 88740), ceased Feb 2023; company status active
- Shareholding in Exmo Poland sp. z o.o.
- EXMO Poland sp. z o.o. (KRS 0000963082, Kraków) flagged as owned or controlled by a sanctioned entity
- Shareholding in Exmo Poland sp. z o.o.
🏦Where your money goesBanking & payment chainProblem
Following the UK designation, custodians, exchanges, banks and payment providers reportedly froze part of user assets, and the platform said operations were almost paralysed. Binance announced it would block transactions involving EXMO from 23 August 2026. Reports allege shared custodial wallets between EXMO.com and EXMO.me.
- EXMO states that third-party custodians, exchanges and banking providers froze part of user assets
- Freezes by custodial, banking and payment providers after the sanctions; 29.4% shortfall
- Binance to block transactions with HTX, EXMO and others from 23 Aug 2026 (announced 14 Aug)
- Elliptic alleges shared custodial wallet infrastructure between Exmo.com and Exmo.me
⚖️Regulator actionsRegulatory actionsProblem
The UK FCDO designated EXMO EXCHANGE LIMITED (ID RUS3602) on 26 May 2026 under the Russia (Sanctions) (EU Exit) Regulations 2019, with an asset freeze; the listing names EXMO POLAND SP Z.O.O. as a subsidiary. The EU's 21st Russia package (23 July 2026) added EXMO Ltd to a transaction ban effective 23 August 2026 (a transaction ban, not an asset freeze). OpenSanctions also shows a Swiss SECO sanctions entry (dated 2026-11-04, marked inferred). EXMO says it considers the sanctions unjustified. The ASA earlier ruled one of its ads misleading.
- GOV.UK designation list naming EXMO EXCHANGE LIMITED
- OFSI notice: ID RUS3602, company number 11655602, subsidiary EXMO POLAND SP Z.O.O., aliases incl. EXMO.ME
- Sanctions imposed: asset freeze, trust services sanctions, director measures
- EU transaction bans take effect 23 Aug 2026 against 11 named platforms including EXMO
- Council press release: 21st package extends transaction ban to 14 crypto-related platforms
- Transaction ban, not asset freeze, for HTX, EXMO and others
- OpenSanctions entry: sanctioned per Swiss SECO (inferred), EU Council and UK sources
- EXMO states it believes the sanctions are unjustified
- ASA ruling: ad misleading, no risk warning
📰News & reputationAdverse media & OSINTProblem
Elliptic alleged that EXMO transacted over $19.5M with sanctioned entities (Garantex, Grinex, Chatex) and kept Russian operations linked after claiming to exit. Elliptic later reportedly removed references to Exmo.com from the report; claims remain against Exmo.me. UK officials' designation and TRM analysis allege continued links with the Russia-linked A7 network and shared wallet infrastructure. A 2020 hot-wallet hack and the 2026 sanctions-driven wind-down with a client shortfall were widely reported.
- Elliptic claims more than $19.5M in direct transactions with sanctioned entities
- Elliptic removed references to Exmo.com; claims remain against Exmo.me
- TRM coverage of UK designation
- Wind-down, 29.4% shortfall, USDRecover token, 2020 hack
- Listing of 2026 exchange shutdowns noting EXMO's disclosed client-balance shortfall
💬Customer experienceCustomer conductProblem
Trustpilot carries recurring reports of blocked or delayed withdrawals, extended verification and unresponsive support. EXMO's own notice states that 29.4% of obligations are uncovered and replaced by a non-withdrawable claim token; the company has set no final withdrawal deadline. Some reviews are positive.
How we rate: methodology.
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People & network
Version history
- 2026-11-10 Red signal Automated profile created from public sources
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