How to complain about a crypto exchange or platform in the US, UK and Canada

When something goes wrong with a crypto platform, such as a frozen account, a missing deposit, a withdrawal that never arrives or fees you didn’t expect, it isn’t always clear who can help. The answer depends on where you live and how the platform is regulated.

This guide explains the steps that work everywhere, then the official routes in the US, the UK and Canada. If you’ve been scammed, rather than let down by a legitimate company, see how to report a crypto scam.

Step one, everywhere: complain to the company

Every official route expects you to have gone to the company first. To give yourself the best chance:

1. Use the company’s formal complaints process, not just a chat with support. Look for a “complaints” page or policy.
2. Put it in writing: what happened, when, the amounts, transaction IDs and what you want the company to do.
3. Keep everything: emails, chat logs, screenshots, statements and the date you complained.
4. Note the deadlines the company gives for its answer, and ask for a final response in writing.

United States

The CFPB

The Consumer Financial Protection Bureau (CFPB) takes complaints about “money transfers, virtual currency, and money services”, alongside banking and credit products. According to the CFPB:

• it sends your complaint to the company so it can review and respond;
• companies generally respond within 15 days;
• you can submit online or call (855) 411-2372.

The CFPB has published data on crypto complaints. In a bulletin of 10 November 2022, it said it had received more than 8,300 complaints related to crypto-assets between October 2018 and September 2022. About 40% listed frauds and scams as the main issue, about 25% involved transaction problems, and about 16% were about assets not being available when promised.

Other US regulators

• State regulators license many crypto platforms. See how to check a crypto exchange is registered for how to find a firm’s state licenses.
• The CFTC oversees crypto derivatives, such as futures, and has its own complaint process. It notes that spot crypto trading platforms aren’t required to register with it. See how to check a trading platform with the CFTC and NFA.
• If you were defrauded, the FBI’s IC3 and the FTC take reports. See how to report a crypto scam.

United Kingdom

Why the Financial Ombudsman usually can’t help yet

In the UK, most crypto firms are currently only registered with the Financial Conduct Authority (FCA) under the anti-money-laundering rules. The FCA is clear about what that means:

• its responsibility under that regime is limited to anti-money-laundering registration, supervision and enforcement;
• being registered doesn’t mean customers benefit from the Financial Ombudsman Service or the Financial Services Compensation Scheme (FSCS);
• registered firms must tell customers, in standard wording, that the Financial Ombudsman Service and the FSCS don’t apply to their crypto services.

So, for now, a complaint about a registered crypto exchange usually ends with the firm itself. If the firm is part of a group that also offers FCA-authorized services, such as payments, check whether your problem falls under those: different rules may apply.

What changes from October 2027

Under the UK’s new crypto regime, firms carrying on the newly regulated activities will need full FCA authorization from 25 October 2027. The FCA has said customers of authorized firms will be able to take complaints about those activities to the Financial Ombudsman, though FSCS compensation won’t extend to crypto. See UK crypto regulation from 2027.

Payments made by bank transfer

If your complaint is about a bank transfer you were tricked into making, your bank and the Financial Ombudsman may be able to help. See will your bank refund a crypto scam?

Canada

OBSI

The Ombudsman for Banking Services and Investments (OBSI) is a free, independent service for complaints about banking and investment firms. Registered crypto trading platforms are among the firms that use it outside Québec: its 2024 annual report lists restricted dealers including Coinbase Canada, Newton Crypto, Payward Canada (Kraken), Foris DAX (Crypto.com) and Wealthsimple Digital Assets among the firms it handled cases for. It recorded 89 cases about crypto assets in 2024, 14% of its investment cases.

According to OBSI:

• you complain to the firm first;
• investment firms have 90 days to respond (60 days if you live in Québec);
• you can go to OBSI if you’re not satisfied with the final answer, or if the firm hasn’t responded in time;
• you have 180 days from the firm’s final response to bring your complaint to OBSI;
• it can recommend compensation of up to $350,000.

OBSI’s recommendations aren’t binding. If a firm refuses one, OBSI says it makes public the firm’s name, its findings and the refusal.

Québec

In Québec, the Autorité des marchés financiers (AMF) runs its own dispute resolution regime instead of OBSI. Contact the AMF if the firm doesn’t resolve your complaint.

Unregistered platforms

OBSI only covers participating firms. If a platform isn’t registered in Canada, the official routes are much narrower, which is one reason to check registration before you sign up. See the $30,000 limit on Canadian platforms.

At a glance

Avoid “recovery” services

After a problem with a crypto platform, you may be contacted by people offering to recover your crypto for a fee. The official routes above are free. Paying a recovery company upfront often leads to a second loss. See crypto recovery scams.