XT.COM Review 2026: Is It Safe? Proof of Reserves, the 2024 Wallet Hack, Regulatory Warnings, Fees and Sign-up

I have an account on XT.COM.

The short version: XT.COM was founded in 2018 and had a CoinGecko trust score of 7/10 on 9 October 2026. Judged by the user assets on the platform, it is small: in the reserve snapshot of 7 October 2026, users held about 375 BTC and about 41.24 million USDT. Its proof of reserves is published about once a month, with the latest ratios at BTC 112.67%, ETH 111.19%, USDT 112.73%, but it names no third-party verifier. A platform wallet was hacked in November 2024, and XT.COM said the platform covered the loss itself. The bigger concern is regulation: the UK FCA, Dubai’s VARA and the Seychelles FSA have all issued warnings, and Quebec and Ontario in Canada have permanently banned it from operating, and I found no formal licence for it on any regulator’s register. Regular users pay 0.2% on spot.

This article is a compilation of information. It is not investment, tax or legal advice. Fees, licences, regulatory status and service regions can change; every figure here is dated, so check XT.COM’s official pages and the law where you live before you act. Crypto prices are volatile, and keeping assets on an exchange carries the risk of the exchange itself.

XT.COM key factsData checked: 2026-10-08

As of 2026-10-08, XT.COM's general-user spot taker fee is 0.2% and its futures taker fee is 0.06%; signing up with the invitation code gives a trading fee discount of 60% on futures and 35% on spot. Its 2026-10-07 proof of reserves showed BTC 112.67%, ETH 111.19%, USDT 112.73%.

Item	Details	Source
Jason Finance rating	38.9 / 100	rating method
Highlights	2024 hack covered by platform funds Dubai and Seychelles regulators say it is unlicensed
General-user fees (taker)	Spot 0.2%, futures 0.06%	2026-10-08
Invitation code fee discount	Trading fee discount of 60% on futures and 35% on spot	2026-10-07
Proof of reserves	2026-10-07 (irregular): BTC 112.67%, ETH 111.19%, USDT 112.73%	2026-10-08
Main licences and registrations	None found
USDT withdrawals	Cheapest Polygon 0.02 USDT; 7 common networks supported	2026-10-08

What kind of exchange XT.COM is

The user figures come from XT.COM’s About page; the same page shows two different numbers, so I list both. The scale is a same-day snapshot from CoinGecko, and the COO is named in a press release XT.COM issued on GlobeNewswire.

Is XT.COM safe?

Proof of reserves: ratios above 110%, but no named third-party verifier

A proof of reserves compares what an exchange holds in its wallets with the total of all user balances. A ratio of 100% or more means that, at the moment of the snapshot, the exchange held enough coins to cover every user balance.

XT.COM’s latest snapshot (7 October 2026):

The data comes from XT.COM’s proof of reserves page; I calculated the ratios by dividing the published wallet assets by user assets. The page says it uses a Merkle tree for verification: each user’s hashed UID and balance form the tree, and users can check on the same page that their account was included, or verify with an open-source tool.

Looking across the snapshots, a few things are worth knowing:

• Frequency: publication began in December 2024, with 15 snapshots by October 2026. There was a gap of about five months between May and October 2025; since October 2025 they have come roughly monthly.
• The snapshots of 4 July and 5 August 2026 have exactly the same figures: user assets and wallet assets for BTC, ETH, USDT and USDC match to the first decimal place. User balances staying completely unchanged for a month is very unlikely, so old data may have been reused; XT.COM has not explained it.
• User BTC has shrunk: users held about 1,439 BTC in the April 2025 snapshot and about 375 BTC in October 2026.
• No third-party verifier is named, and only four major assets are covered: BTC, ETH, USDT and USDC. The page says “more coins will be added”.

A proof of reserves is a snapshot at one point in time, not a full financial audit, and it does not show that the exchange has no other liabilities. What it can and cannot prove, and how exchanges compare, are in the proof of reserves guide.

The November 2024 platform wallet hack: about US$1 million to US$1.7 million

According to XT.COM’s post-mortem, at 08:23 (UTC) on 28 November 2024, 12 coins totalling about 1 million USDT were transferred out of one of the platform’s own wallets in unusual transactions. Blockchain security firm PeckShield estimated about US$1.7 million, and said the attacker swapped the assets into 461.58 ETH and moved them out (Cointelegraph).

How it was handled:

• Withdrawals paused for about a day: all withdrawals were paused at 08:50 that day and resumed in stages from 29 November.
• User funds: XT.COM said the assets taken were the platform’s own, user balances were not affected, and its reserves were kept at 1.5 times user assets.
• Cause: XT.COM blamed a gap in its wallet management process: alerts needed manual checking, which delayed automatic blocking. Large or unusual outflows now require multi-signature approval, and in December 2024 it began publishing a Merkle tree proof of reserves.

XT.COM’s 1.5 times claim does not fully match its later reserve snapshots: the ratio on 7 October 2026 was about 1.1 times. The loss also has two versions: about 1 million USDT according to XT.COM, about US$1.7 million according to the media.

Account security settings, and large withdrawals without KYC

XT.COM offers passkeys, 2FA through an authenticator app, an anti-phishing code, and an official verification tool for checking official web addresses and support accounts. Its bug bounty programme started in April 2023 and pays up to US$4,000.

According to the official withdrawal limit guide (updated 26 September 2026), accounts that have not completed identity verification (KYC) can still withdraw 200,000 USDT a day, and 10 million USDT after KYC. That is convenient for people who do not want to hand over identity documents, but it also means the platform may not know who is behind an account before letting a large withdrawal through.

Does XT.COM hold a licence? Regulatory record and warnings

On 9 October 2026 I found no formal licence for XT.COM on any regulator’s public register. The website’s About page says it “operates within global regulatory frameworks” but lists no licence or registration number.

Regulators’ actions and warnings

These are actions and warnings against serving local users without a local licence; the notices do not mention XT.COM misusing user assets.

Items I could not check on official pages

• Canadian money services business (MSB) registration: CoinGecko lists XT.COM as registered as an MSB in Canada; I could not confirm it on the register of the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).
• Hong Kong SFC list of suspicious virtual asset trading platforms: on 9 October 2026 I did not see XT.COM on the X page of the SFC’s alert list, but the web version of this list does not always display in full, so I could not check it completely. XT.COM has a Traditional Chinese (Hong Kong) website.
• Iranian users: a Persian-language website (khanesarmaye.com) says XT.COM accepts sign-ups with Iranian identity documents and +98 phone numbers. This is only a third-party claim that I could not check on official pages. What official pages do confirm: the XT.COM website has a Persian version, the About page lists a Persian-language Telegram group, and Iran is not on the user agreement’s restricted list.
• Other regions: I found no notices about XT.COM from Japan’s FSA, the Monetary Authority of Singapore, the Thai SEC, Malaysia’s Securities Commission, the Philippine SEC or EU national authorities, but I did not go through every authority’s list. Singapore is on XT.COM’s own restricted list.

Regions restricted by XT.COM’s terms

Under clause 3.3.4 of the user agreement, users in the United States, Canada, mainland China, Cuba, North Korea, Singapore, Sudan, Venezuela and Crimea cannot use it, and the list “is not exhaustive and may change at any time”. Iran and Syria are not on it, whereas OKX’s restricted list includes both. The UK, Dubai and South Korea are not on the list, but their regulators have issued the warnings or actions in the table above. Not being on the list does not mean local law allows you to use it.

How to sign up for XT.COM

XT.COM is an international exchange (for Chinese-speaking users worldwide). Create an account with an email address or phone number and enter the invitation code in the invitation code field; to raise your withdrawal limit or use fiat and P2P features, complete identity verification (KYC). Before signing up, confirm that your region is not on the restricted list above and that your local regulator has not issued a warning.

XT.COM trading fees: 0.2% spot, 0.06% futures taker

According to XT.COM’s VIP fee announcement effective from 5 March 2026 (checked on 9 October 2026 and consistent with the official fee page), you move up a tier by meeting any one of the thresholds for 30-day average assets, 30-day spot volume or 30-day futures volume:

• The 30-day volume for VIP 1 is 20,000 USDT on spot or 200,000 USDT on futures, far lower than at OKX or Bybit.
• Spot maker and taker share the same rate. Paying fees with the XT platform token takes 25% off spot fees; futures get no such discount.
• XT platform tokens you hold count 1.4 to 2 times their value (depending on tier) when VIP assets are calculated.
• VIP tiers are updated every day at 03:00 (UTC) based on assets or volume, with main and sub-accounts combined.
• The 0.2% spot fee for regular users is twice the 0.1% charged by most large international exchanges. For comparisons with other exchanges, see the international exchange fee comparison.

In money terms: a regular user buying 1,000 USDT of BTC on spot pays 0.2%, or 2 USDT; paying with the XT platform token, 1.5 USDT. The same trade on an exchange charging 0.1% on spot costs 1 USDT.

USDT deposits and withdrawals: 10 USDT minimum withdrawal

Deposits are free. Withdrawals pay a fixed network fee regardless of the amount, and XT.COM says withdrawal fees are adjusted dynamically to network conditions.

USDT networks shown by the official currency support API on 9 October 2026:

• The minimum withdrawal is 10 USDT on every network.
• Polygon and Aptos are the cheapest and ERC20 the most expensive; Arbitrum costs 2 USDT here, against 0.0035 USDT at OKX on 7 October 2026.
• XT Smart Chain is XT.COM’s own chain, and most other exchanges and wallets do not support it; choosing it by mistake may mean the funds cannot be recovered.
• For deposits and withdrawals, the sending and receiving sides must choose the same network.

XT.COM earn: Simple Earn

XT.COM’s earn feature is called Simple Earn, with flexible and fixed-term products. On the website you reach it from “Earn”; in the app, from “Assets > Earn”. Rates vary by coin and over time: for example, the USD1 flexible announcement updated on 2 October 2026 gives an estimated APR of 1.5%, interest calculated daily at 00:00 (UTC), and a limit of 1 million USD1 per subscription.

I found no official XT.COM explanation of where the earn yield comes from, and no complete description of the flexible redemption rules.

For how exchange earn products compare with short-term Treasury ETFs, Aave and Bitfinex lending, and what extra risk each one adds, see Where to park idle USD and USDT. On a smaller exchange without a formal licence, the risk of the exchange itself deserves more weight.

Pros and cons: who XT.COM suits

How we rate exchanges is explained in Exchange Rating Methodology. More exchange guides and comparisons are on the crypto topic page.

FAQ

Is XT.COM safe?

XT.COM publishes a proof of reserves about once a month. The snapshot of 7 October 2026 showed BTC at 112.67%, ETH at 111.19% and USDT at 112.73%, and users can verify their own balance with a Merkle tree. But the report names no third-party verifier, and the snapshots of July and August 2026 had exactly the same figures. A platform wallet was also hacked in November 2024. In addition, regulators in the UK, Dubai, Seychelles and elsewhere have issued warnings.

Does XT.COM hold a licence?

On 9 October 2026 I found no formal licence for XT.COM on any regulator's register. The UK FCA put it on its warning list in March 2025, Dubai's VARA said in November 2024 that it has no licence, and the Seychelles FSA said in April 2026 that xt.com has no connection with any entity it regulates.

XT.COM was hacked in 2024. Did users lose money?

According to XT.COM's post-mortem, on 28 November 2024 assets worth about 1 million USDT were transferred out of one of the platform's own wallets in unusual transactions; media citing PeckShield put the figure at about US$1.7 million. XT.COM said these were the platform's own assets and user funds were not affected. Withdrawals were paused that day and resumed in stages from the next day.

Can I use XT.COM in Canada?

No. In September 2023 Quebec's Financial Markets Administrative Tribunal fined XT.COM's operators C$2 million and permanently banned them from doing business in Quebec, and in March 2025 Ontario's Capital Markets Tribunal issued a matching permanent ban. XT.COM's own user agreement also lists Canada as a prohibited region.

What are XT.COM's trading fees?

Under the official rates effective from 5 March 2026, regular users (VIP 0) pay 0.2% maker and taker on spot; paying fees with the XT platform token gives 25% off, bringing it to 0.15%. Futures are 0.02% maker and 0.06% taker. The 0.2% spot fee is higher than the 0.1% charged by most large international exchanges.

Which regions cannot use XT.COM?

Under clause 3.3.4 of XT.COM's user agreement, users in the United States, Canada, mainland China, Cuba, North Korea, Singapore, Sudan, Venezuela and Crimea cannot use it, and the list may change at any time. Even if you are not on the list, check first whether your local law allows it.

What does XT.COM charge to withdraw USDT?

On 9 October 2026 the official API showed USDT withdrawal fees of 0.02 USDT on Polygon, 0.5 USDT on BNB Smart Chain (BEP20), 1 USDT each on TRC20, Solana and TON, and 4 USDT on ERC20, with a minimum withdrawal of 10 USDT on every network. Fees change, so the figure on the withdrawal page applies.