How the safety score works
A score is the points an exchange earns over the points possible on the factors that have a sourced, dated fact behind them. With fewer than 4 such factors, an exchange is not scored.
Proof of reserves3010 points when the exchange's wallets are published and tracked; 10 for a reserve report within 120 days (5 within a year); 10 for a reserve ratio of at least 100 % with customer liabilities included (4 without liabilities).DefiLlama CEX transparency; the exchange's own proof-of-reserves page
Hacks and losses20Starts at 20. Each exchange hack in the last ten years takes off 2 if users were refunded in full, 6 in part, 10 if not, 5 while the refund is not confirmed. Incidents older than five years count half.DefiLlama hacks list; the exchange's post-mortem
Licences208 points for a live authorisation in ESMA's MiCA register; 3 per other licence or registration (up to 12); a regulator warning or ban takes off 6.ESMA MiCA register; FCA, FinCEN, JFSA, MAS, VARA, CVM, AUSTRAC registers, checked by hand
Track record10Years in operation: 10 years or more 10 points, 6 or more 7, 3 or more 4, less 1.The exchange's own founding date, with its source
Outflows (7 days)10Net flow of the published wallets over 7 days as a share of assets: down to −5 % 10 points, down to −15 % 5, worse 0.DefiLlama CEX transparency
Withdrawal pauses10Starts at 10. Each withdrawal pause in the last 24 months takes off 4, or 6 when it lasted more than a day. Counted only once the record has been checked.Exchange status pages and announcements, checked by hand with the date
What the score is not
- Not a guarantee. An exchange with a high score can still fail, freeze withdrawals or be hacked.
- Not an audit. Proof of reserves shows assets on one day; it says nothing about debts that are not disclosed.
- Not for sale. Paid placements are separate cards marked Ad, and advertisers are scored with the same formula.
- Never estimated. A factor with no sourced fact is left out of both sides of the sum, and every page says how many factors were known.
The weights are a published choice, the same for every exchange. Every fact on an exchange’s page links to its source and shows the date it was read or checked.