CEX.IO Security: Is Your Crypto Safe on This Exchange?

When you put your crypto on CEX.IO, a centralized cryptocurrency exchange that lets users buy, sell, and store digital assets. Also known as Crypto Exchange IO, it's one of the older platforms still operating — but that doesn't mean it's safe by default. Centralized exchanges like CEX.IO hold your keys, which means if they get hacked, you lose everything. No recovery. No blockchain backup. Just silence.

CEX.IO has had its share of security scares. In 2018, a vulnerability in its API allowed attackers to extract limited user data. While no funds were stolen, it showed how easily trust can be broken. Since then, they added two-factor authentication, cold storage for most assets, and a $100 million insurance fund. Sounds good? Maybe. But here’s the catch: cold storage, a method where crypto is kept offline to prevent remote hacking doesn’t mean your coins are untouchable — it just makes stealing them harder. And two-factor authentication, a security layer requiring a second verification step beyond your password is only as strong as your phone or email. If someone gets access to your Google Authenticator or resets your email password, you’re exposed.

Compare that to a multi-signature wallet, a wallet requiring multiple approvals to move funds, making theft nearly impossible without collusion. That’s the gold standard for serious holders. CEX.IO doesn’t offer that for regular users. You’re trusting one company, one server, one team of employees. And history shows that even big names like Mt. Gox, FTX, and now CEX.IO can’t fully escape human error, insider threats, or targeted attacks.

What do the reviews say? Users on Trustpilot and Reddit point out slow support, sudden account freezes, and unclear dispute processes. One user lost $8,000 in ETH after CEX.IO flagged his transaction as "suspicious" — and it took six weeks to get it back. No apology. No explanation. Just a generic email saying they "protect users from risk." That’s not security. That’s control.

So is CEX.IO secure? It’s safer than a random P2P site with no name. But it’s not safe enough for large holdings. If you’re trading small amounts, using it as a quick on-ramp, or holding for a few days? Fine. But if you’re stacking Bitcoin or storing altcoins long-term? Move it to a wallet you control. The market moves fast. So should your security habits.

Below, you’ll find real reviews, scam alerts, and exchange comparisons that cut through the noise. No fluff. Just what you need to know before you click "Deposit."