Every company, on one page each

The largest exchange in the world by volume, and the cheapest trade we measured — with a $4.3bn guilty plea and monitorships still running behind it.

A $150m fund genuinely scoped to theft — with no address, no proof of funds and no published claims process. Its own hack compensation is unconfirmed.

The exchange that socialised a hack across every customer in 2016 — including untouched accounts — and whose proof of reserves is a 2022 text file.

Cheapest measured trade in our exchange rating, weakest custody evidence in it — and $351.6m taken from its hot wallets on 24 September 2026.

A real Lloyd’s crime policy, MiCA and FCA licences, and users made whole after 2015 — against a proof-of-reserves audit it promised in 2022 and never shipped.

The only venue we rate that holds client assets in a separate legal foundation — so the exchange’s own solvency cannot reach your money.

Lost roughly $1.4–1.5bn in February 2025, the largest exchange theft on record, and paid every user in full without ever stopping withdrawals.

Nasdaq-listed US exchange, audited and regulated in all 50 states — and the only venue in our rating that publishes no proof of reserves at all.

Publishes a Merkle proof you can genuinely check — attested by a firm that left crypto work in December 2022, a date its own page still cites.

A user-fund incident from July 2026 is still open and uncompensated as we publish, and its API answered in three seconds when we measured it.

New York trust-chartered exchange with $200m of real theft insurance and no proof of reserves — and the venue whose Earn customers got 100% back in kind.

Claims the largest protection fund of any exchange we rate — 20,000 BTC — at an address it will not publish. The FCA began proceedings in February 2026.

Centralised exchange operated by Payward, Inc. The only venue in our rating whose proof of reserves includes client liabilities and is attested by a named firm.

Roughly $281m taken in 2020 with no independently confirmed reimbursement, a US guilty plea, $297m in penalties — and the cheapest trade we measured.

The only exchange we rate whose protection fund publishes an on-chain address you can go and check — and it holds no licence anywhere.

A cryptographically strong monthly proof of reserves with no auditor’s name on it, against a 2025 US guilty plea and over $504m in penalties.

Lost $70m or more in January 2025, and its own incident timeline does not contain the word compensation. Its insurance balance page reads "No Data".

Announced a $100m protection fund in April 2026 whose coverage, trigger and structure it says will be disclosed later. No fiat rails at all.

Hacked twice, six years apart, both times on 27 November — and the only exchange we rate where "users were made whole" is independently confirmed.

The largest pool of borrowed money in DeFi at $18.39bn, with no depositor-loss event in six years as the most obvious target in the industry.

The protocol that made on-chain lending work, still among the most conservatively engineered — and the one whose 2021 governance bug gave away $80m.

An immutable lending primitive neither developers nor governance can alter — and most depositors use curated vaults instead, where the risk went.

The best chip in hardware wallets and eighth place in our rating — because the firmware is closed and the trust model, not the silicon, is the product.

The most-used wallet in crypto, and not open source since 2020 — a proprietary Consensys licence the folklore has not caught up with.

The only hardware wallet with firmware and hardware both fully open and reproducible builds — and which published the attack found against its own model.

USDC issuer, NYSE-listed since June 2025, and since July 2026 the operator of a national trust bank that puts USDC custody under federal supervision.

Issuer of the largest stablecoin, earning about $1.04bn in a single quarter on reserve interest — and publishing attestations rather than an audit.

Where stablecoins actually trade, and the protocol drained for $73.5m in 2023 by a bug in the Vyper compiler rather than in its own code.

The largest protocol in DeFi at $24.43bn, and the one that publishes the formula behind its own yield instead of just the number.

The largest decentralised exchange, and since December 2025 one that takes a cut: the fee switch is on and roughly one-sixth of fees now buys and burns UNI.