EXMO.com to Shut Down Following UK Sanctions

Crypto exchange EXMO.com has announced it will wind down its operations after UK sanctions targeted entities within the EXMO.com group. While the company disputes the sanctions, it says it is cooperating with authorities.

The sanctions, announced on May 26, 2026, led to the freezing of some user assets held by custodians and banking partners. As a result, EXMO has stopped new account registrations, deposits, and new trading positions, although users can still close existing trades.

According to the exchange, 29.4% of customer assets are currently unavailable due to frozen funds and losses from a 2020 hacking incident. To address the shortfall, EXMO has reduced all client balances by 29.4% and issued a non-transferable recovery token called USDRecover (USDRec), which represents a claim on any funds recovered in the future.

The platform will remain online temporarily to allow users to 
withdraw their remaining funds. EXMO urged customers to complete withdrawals as soon as possible, warning that processing times may be longer and additional restrictions or fees could be introduced during the wind-down process.