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Business Profile

Cryptocurrency Exchange

CEX.IO

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Cryptocurrency Exchange.

Complaints

Customer Complaints Summary

  • 47 total complaints in the last 3 years.
  • 21 complaints closed in the last 12 months.

If you've experienced an issue

Submit a Complaint

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

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Complaint status

Complaint type

  • Initial Complaint

    Date:03/19/2025

    Type:Billing Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Subject: Complaint Regarding Inability to Withdraw Funds – CEX.IO MSB registration number with ******: ************** License NO. **********  I am writing to express my deep concern and dissatisfaction with the services provided by the cryptocurrency exchange platform, CEX.IO. Details of the Incident: Initial Investment: On July 21, 2024, I purchased $25 worth of Bitcoin through CEX.IO. Account Growth: Over time, the value of my investment increased to approximately $80. Withdrawal Attempts: Upon deciding to withdraw my funds, I encountered persistent issues: Failed Methods: Attempts to transfer funds back to my account and to receive a check were unsuccessful. Current Balance: Due to these complications and market fluctuations, my account balance has now decreased to $53. Concerns: Access to Funds: The inability to withdraw funds, despite multiple attempts, is alarming and suggests potential mismanagement or deliberate obstruction. Platform Integrity: The consistent withdrawal issues, coupled with a lack of effective support, raise concerns about the legitimacy of CEX.IO's operations. Notably, similar complaints have been documented by other users, indicating a potential pattern of misconduct. BETTER BUSINESS BUREAU Given the above, I respectfully request that your agency: Investigate CEX.IO: Conduct a thorough investigation into the platform's practices to determine if they are engaging in fraudulent or deceptive activities. While my financial loss may seem minimal, the broader implications of allowing such practices to continue unchallenged are significant. It is imperative that consumers are protected from platforms that fail to uphold transparent and ethical standards. Thank you for your attention to this matter. I am available to provide any additional information required and look forward to a resolution that safeguards the interests of all consumers. Sincerely, ***** *******

  • Initial Complaint

    Date:03/12/2025

    Type:Product Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I was searching for a new crypto app. And stumbled upon cex.io I purchased $358 worth of bitcoin . Not verification at first not when I added my card . But as soon as the money was on the account I had to verify myself with the card I used seemed kinda sketch but I was like okay . I attempted to verify 20+ times until I had to send a million messages and pictures to the staff they finally verified me but limited my account to where I had to withdraw my funds to the card I already cancelled because somehow there were transactions tried from *******.com and stuff . After putting card info into cex “. After all of that I simply asked if I could transfer with bitcoin wallet or add my new updated card… they deactivated my account and won’t even respond . I even tried to withdraw to the old card but there app blocked the transaction. They took my money and said what the heck with me no kind of help .

  • Initial Complaint

    Date:03/08/2025

    Type:Product Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    holding my money in their app because they keep asking what my wallet address is going to and despite giving them information they are still holding my money and wont let me withdraw it from my account

  • Initial Complaint

    Date:02/27/2025

    Type:Product Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Yesterday I transferred $60 to my account that I have with them in my name, but I used my mother‘s debit card so they placed funds on hold for verification purposes. They sent me what I had to do to have the funds released for me to use. I did that and they just won’t accept my verification photos despite me doing everything I was instructed to do it’s been going on two days now.

  • Initial Complaint

    Date:01/15/2025

    Type:Product Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I have attempted to communicate with CEX.IO multiple times this year including twice in the last 24 hours however they do not answer any emails and there is no way to communicate regarding any issue. I am writing to seek assistance regarding the 2021 Form 1099-K that was issued to me. It appears that this document indicates transactions totaling $177,076.62 as “payments received.” However, I need to clarify that during the relevant period, I solely used your platform to purchase cryptocurrency, which I subsequently transferred to an external wallet. At no point did I profit from or utilize these transactions as an investment mechanism, nor did I receive any payments as income or proceeds. Unfortunately, the IRS is interpreting this document as if I received these funds, leading to significant confusion and potential tax implications. I kindly request the following: 1. Reissuance or Correction of the 1099-K: If possible, I would like a revised document that accurately reflects the nature of my transactions as purchases rather than payments received. 2. Withdrawal or Clarification to the IRS: If the 1099-K was filed in error, I would greatly appreciate your assistance in withdrawing it from the IRS or providing a detailed explanation to correct this misunderstanding. 3. Documentation Support: If reissuance or withdrawal is not feasible, any supplementary documentation or official correspondence from your team confirming the nature of my transactions would be immensely helpful. Please let me know what steps I need to take to facilitate this process or if additional details are required from my end. Your prompt assistance in resolving this matter is greatly appreciated, as it has caused considerable stress.

  • Initial Complaint

    Date:12/23/2024

    Type:Product Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    If I could give them ZERO stars I would. Over the period of several years I deposited small amounts so that I could buy crypto. My total balance now is a little over $2000. This is a lot of money to me as I am retired. I wanted to withdraw my crypto in any way possible; fiat, crypto or whatever. But they wanted proof of my identity by sending a photo of the ORIGINAL debit card I used! It has long since expired or has been lost, I don't remember. Over the period of a couple/few years I have used several debit cards, including my spouse's debit card. We have since separated and CEX is asking me for HER bank statements! I cannot provide them since her and I are not on talking terms. CEX is giving me a runaround and is crooked. So now, after about 1 year and a half, of trying to get my money I am contacting a lawyer to help me. I'm willing to give the lawyer a large chunk of my balance if they can successfully release my funds from this atrocious business. My whole experience has been frustrating beyond belief!

  • Initial Complaint

    Date:11/14/2024

    Type:Customer Service Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    2 years ago I purchased some crypto using my virtual debit card, because it's better for online purchases. I have been trying to gain access to it ever since!!They keep asking me to upload a selfie holding the card. Since it's a virtual card, I have to hold my phone. And they consistently reject it??! At this point, I feel like they have stolen money from me. They have no customer service number. They don't help AT ALL!! Over 2 years now, and I'm still dealing with this!

  • Initial Complaint

    Date:11/10/2024

    Type:Product Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Ive been trying to withdraw my money from them for almost a year. They attempt to do identity verification, and all of my attempts have failed and I think theyre really trying to steal my money.

  • Initial Complaint

    Date:11/09/2024

    Type:Service or Repair Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I deposited money into *** to trade for Bitcoin, which I did. When I went to transfer the ******* to a wallet, they declined the transaction and wanted me to submit answers to their questions, which I did . That was two weeks ago. They will not let me sell the Bitcoin or move it out of their business. I have been requesting them to let me at least move my money out and they tell me to be patient while they make a decision on if its legal or not. That money is for an emergency situation and I need to get it out of there but they refuse to release it and tell me they are still investigating. I have done nothing illegal, but they will not even let me move this to another app. All I ask is that my money, which I legally obtained and should be able to move out of their app, be allowed to be released and moved.

  • Initial Complaint

    Date:10/22/2024

    Type:Billing Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    In August 2024, I started to do cryptocurrency trading on cex.io platform https://www.**********.***/***/ . My account is **************. On October 5, 2024, 8 pm — 9 pm, EST, New York time, I tried to close a transaction (stop selling). However, I could not close. (I could close in the past). This incident might be caused by platform server, connection, network traffic, or other issues. Because of this incident, this platform annihilated/wrote off my balance of $54170.59. My balance became zero. This is unreasonable. Even if this transaction was not successful, balance should never be zero. I want my balance of $54170.59 back. I sent ***plaint to cex.io customer service, they refuse to handle this issue.

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