368 exchanges have closed down since 2014, and 161 of them &quot;just vanished&quot;. Trust no exchange with your money: A glimpse on the Exchange Graveyard. We often remember Mt. Gox or the most recent fiasco when it comes to exchanges going down, but there are a lot more cases and these melt downs are common than I had thought. I got some data from Cryptowisse and their Exchange Graveyard and did a rookie analysis on it for you fine folk. The highlights are below! # 161 exchanges (~42%) just vanished This means that no reason whatsoever was given to customers or society as a whole. These &quot;just vanished&quot;. The categories and their percentages are: * Business reasons: 87 * Hacked: 15 * Just disappeared: 161 * Rebranding: 47 * Regulatory Reasons: 29 * Scam: 29 It helps to have a chart to visualize it: BR - Business Reasons, H - Hack, JD - Just Disappeared, R - Rebranding, RR - Regulatory Reasons, S - Scam <a rel="noreferrer nofollow noopener" href="https://preview.redd.it/aaapoh76hyha1.png?width=1800&amp;format=png&amp;auto=webp&amp;v=enabled&amp;s=81f19776090ca77df1ad14866040054dabc54a8d" target="_blank">https://preview.redd.it/aaapoh76hyha1.png?width=1800&amp;format=png&amp;auto=webp&amp;v=enabled&amp;s=81f19776090ca77df1ad14866040054dabc54a8d</a> Note on Rebranding cases: follow up was not provided for the new brands. # 215 melt downs (~58%) happened in the 2020-2023 period * 75 in 2020 * 51 in 2021 * 79 in 2022 * **10 in 2023** (and it&#039;s not even mid February yet) In 2020, 31 shut down voluntarily while 34 **disappeared with no explanation**. Dutch exchange NLexch and Chilean Chilebit were shut down by their respective governments. This is just a glimpse on how no one can trust any exchange with their money. In 2022 we know which one was the star of this row. # The day with most closures was 11th Jan 2021, with 16 exchanges going down On this day, 11 exchanges just disappeared, 3 closed down due to business reason, 1 was a scam and 1 was a rebranding. Disappeared: BEPSwap DEX, BitRabbit CEX, LOEx CEX, Daubit CEX, BiONE CEX, Looprind DEX, MixCoins CEX, Saturn Network DEX, Bitinfi CEX, <a rel="noreferrer nofollow noopener" href="http://1nvity.io" target="_blank">1nvity.io</a> DEX, Linkswap DEX Scam: World Markets FX Crypto Brokers Business reasons: Poloni DEX, Braziliex CEX Rebranding: RADAR DELAY DEX # TL;DR and advice Most exchanges that closed down &quot;just disappeared&quot;. We&#039;re entering a bull run phase after next halving, scheduled for Q2 2024. Many new exchanges will appear, as well as hedge funds of the sorts of 3AC and &quot;promising&quot; projects of the likes of Celsius. This latter I remember that was advertised north and south at this sub, as well as by &quot;influencers&quot;. We know how it went. **Use exchanges as exchanges** and take control of your keys by having a cold storage. Heck, if you don&#039;t have the money just use a hot wallet of your choice. Make sure we avoid repeating 2022.