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Exchanges / Wider check / Phemex
WIDER CHECK · NO SCORE · 9 OCT 2026

Phemex: what the sources say

No MiCA authorization found Limited search: no Rigor score

Key facts

Regulation, reserves, fees

MiCANot foundNone found in the ESMA interim register
Italian residentsNot verifiedRegistry check pending
Proof of reservesPublished2026-04-02
Spot fees (base tier)0.1% / 0.1%maker / taker

Reserves note: April 2026 PoR release reports 131% total reserve ratio (BTC 133.11%, ETH 141.61%, USDT 103.61%, SOL 155.62%); no auditor named. Later monthly releases exist in search results but were not read.

Track record

Incidents and regulator actions found

Security incidents

  • 2025-01-23 Hot wallet breach across multiple chains; Phemex suspended withdrawals. Loss estimates differ by source: about USD 37 million (CryptoSlate, at time of announcement) and about USD 70-73 million (Halborn). CEO stated cold wallets, holding most funds, remained secure. Outcome: Phemex stated it was working on a compensation plan for affected users; completion not verified in sources read. Halborn says a Lazarus link was suspected but unconfirmed. source

Regulator and court actions

  • No regulator or court action found in our limited search.
Limits

What we could not verify

Not verified: operating entity, other licenses, Phemex's own EU/Italy terms and OAM register, whether the compensation plan was completed, legal/regulatory actions (search found none but results were headline lists only), products (spot/perps/staking not read from official page). Italy status relies on a third-party article.

Facts are as of 9 Oct 2026. We ran a limited number of searches per exchange, so an empty list is not proof that nothing happened. We did not check the Italian OAM register. Items from press or third parties are reports, not findings by an authority. If something here is wrong or out of date, send a correction with a source: corrections policy. Education only, not investment advice.

Sources

  1. [1] ESMA interim MiCA register - CASPs CSV accessed 2026-10-09
  2. [2] Halborn - Phemex hack January 2025 accessed 2026-10-09
  3. [3] CryptoSlate - Phemex compensation plan after hot wallet breach accessed 2026-10-09
  4. [4] Phemex April 2026 Proof of Reserves press release (Investegate) accessed 2026-10-09
  5. [5] Phemex help center - fee structure accessed 2026-10-09
  6. [6] Datawallet - Phemex supported and restricted countries (third-party) accessed 2026-10-09