Crypto exchange
Updated 2026-09-29
A crypto exchange is an online platform where people buy, sell, and trade cryptocurrency for other cryptocurrency or regular money. Well known examples operate both globally and within Malaysia, some regulated by the Securities Commission Malaysia.
Most legitimate exchanges require know-your-customer verification before a user can withdraw funds, which means the exchange holds identity records linked to each account.
In a scam, funds are often moved through one or more exchanges to convert them or make them harder to trace. Once crypto reaches an exchange account, it becomes possible to ask that exchange to identify or freeze the account, though this usually needs a police report or court order.
When it matters
If a blockchain explorer shows your funds reached a known exchange, that exchange becomes a key contact point for a police report or a civil claim to trace the money.
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