Is Crypto.com legit?
- Fee on a $1,000 buy
- $5by bank transfer
- Bank withdrawal time
- 1–3 days
- Coins
- 376
In the US, Crypto.com customers deal with Foris DAX, Inc. Any Crypto you hold on Crypto.com isn't FDIC insured. On record, Crypto.com has 4 dated incidents, with sources listed.
Licences and registrations held by Crypto.com
In the US, Crypto.com's business is run by Foris DAX, Inc.
As a money services business, Crypto.com says it is registered with FinCEN.
For New York, Crypto.com has no NYDFS licence.
You can find its state licences listed on Crypto.com's licences page.
Has a hack hit Crypto.com? Incidents and enforcement
For every Crypto.com incident, a link points to the regulator or company statement behind it.
| Date | What happened | Source |
|---|---|---|
| April 23, 2026 | The Wisconsin Department of Justice sued Foris DAX Markets, Inc. The complaint alleged that its prediction markets facilitate illegal sports betting, but it wasn't a finding. | wisdoj.gov |
| May 5, 2025 | The Texas Department of Banking required Foris DAX, Inc to pay a $87,108.63 penalty in a consent order. It concerned unlicensed money transmission before the April 29, 2025 licence. | dob.texas.gov |
| March 27, 2025 | No enforcement action came out of it: the SEC closed the investigation into Crypto.com after a 2024 Wells notice. | crypto.com |
| January 1, 2022 | Among 483 customer accounts, unauthorized withdrawals took 4,836.26 ETH, 443.93 BTC and about US$66,200 in other assets. Every affected customer received reimbursement. | cbsnews.com |
How your funds are held
According to Crypto.com, Mazars Group (ISRS 4400) verified its Merkle-tree proof of reserves. The customer balances were stated for December 7, 2022. Such a proof of reserves provides an attestation, but it isn't a complete audit of Crypto.com.
Custody, per Crypto.com: customer assets are held at a 1:1 ratio in institutional-grade reserve accounts, and strict access controls apply to cold and hot wallets.
For Crypto.com account security, a TOTP authenticator app provides a 6-digit code with a 30 s expiry for crypto/fiat withdrawals and address whitelisting. Passkeys are supported.
Text scams and other scams that target Crypto.com users
Don't hand over your Crypto.com password or 2FA code to anyone. Also don't transfer funds to a "safe wallet" on the word of a text or call. Contact Crypto.com only through its app or website.
Does Crypto.com have FDIC insurance?
According to Crypto.com, Community Federal Savings Bank or another FDIC-member network bank holds US residents' USD balances. FDIC-insured coverage reaches up to $250,000, but only if the bank fails.
We earn a commission if you open an account through our links. It does not change the fees you pay or our score.
Open a Crypto.com accountLearn more about Crypto.com
Common questions
Is crypto held on Crypto.com covered by FDIC insurance?
Crypto isn't covered. Insurance, per Crypto.com: US residents' USD balances are kept at Community Federal Savings Bank or at other FDIC-member network banks. They're FDIC-insured for up to $250,000, and only if the bank fails.
How should I handle a Crypto.com code I never asked for?
Take it as a warning. Don't hand over your Crypto.com password or 2FA code to anyone. Also don't transfer funds to a "safe wallet" on the word of a text or call. Contact Crypto.com only through its app or website.