Crypto Exchange Safety Checker
This tool helps you assess the safety of a cryptocurrency exchange by analyzing key factors that contributed to Nanu Exchange's collapse. Based on the article, exchanges need regulation, good liquidity, transparent customer support, and verifiable trading volume to be trustworthy.
Back in 2017, Nanu Exchange launched as a cryptocurrency trading platform focused on Brazilian users. It promised simple access to Bitcoin, Ethereum, Litecoin, and other popular coins with direct BRL deposits and withdrawals. For a while, it seemed like a solid local option - until it vanished without warning in November 2020.
What Nanu Exchange Actually Offered
Nanu Exchange wasnât trying to compete with Binance or Coinbase. It was built for one thing: serving Brazilian traders who wanted to buy and sell crypto without jumping through international hoops. The platform supported BTC, ETH, LTC, XRP, TRX, and DOGE. About half of its trading volume came from Bitcoin, with XRP and Ethereum making up most of the rest. Fees were standard for the time: 0.25% for takers, 0.15% for makers. Bitcoin withdrawals cost exactly 0.0008 BTC - matching the global average. Thatâs not impressive, but it wasnât a red flag either. The real draw? Fiat on-ramps. You could deposit and withdraw Brazilian reais directly. That mattered. At the time, few exchanges made it easy for Brazilians to move money in and out without third-party services. Nanu Exchange filled that gap - until it didnât.Why It Failed: Liquidity, Interface, and Trust
Nanu Exchange had two fatal flaws: low liquidity and a broken user experience. Traders reported that even small orders would move the price. If you wanted to buy 500 BRL worth of XRP, youâd get a worse rate than expected because there werenât enough buyers and sellers on the other side. Thatâs what low liquidity does - it makes trading expensive and unpredictable. The interface? Users called it confusing. One review from July 2021 described the site showing just the word âTabooâ when they tried to log in. That wasnât a glitch - it was a sign the site was dead. Others mentioned poor navigation, unclear guides, and an overall sense that no one was maintaining the platform. Trust scores tell the rest of the story. BeInCrypto gave Nanu Exchange a trust rating of 3 out of 10, ranking it 596th in reliability. By the time it shut down, that number had dropped further. CoinMarketCap labeled it âUntracked,â meaning they couldnât verify its trading volume. Thatâs not normal for a live exchange. Itâs a warning sign.No Regulation, No Safety Net
Nanu Exchange operated without any official financial license. Unlike Mercado Bitcoin or Foxbit - two Brazilian exchanges that still exist today - Nanu had no oversight. No insurance. No clear customer support channels. No public roadmap. When things went wrong, users had nowhere to turn. No email replies. No live chat. No social media updates. When the platform disappeared, people were left with empty accounts and no answers. Compare that to Kraken or Binance, which have legal teams, compliance officers, and public outage reports. Nanu Exchange was a black box. And when black boxes fail, you donât get an explanation - you just lose your money.
The Shutdown: No Warning, No Recovery
In November 2020, Nanu Exchange went offline. No announcement. No email. No social media post. Just silence. Users who tried to log in after that found either error pages or the word âTabooâ - a clear sign the servers had been turned off. No one ever explained why. No regulatory body issued a statement. No founder gave an interview. The platform just⌠stopped. Thatâs not an outage. Thatâs a shutdown. And in crypto, when an exchange vanishes without warning, itâs usually because the operators walked away - either because they ran out of money, got scared of legal trouble, or worse.What You Can Learn from Nanu Exchange
Nanu Exchangeâs collapse isnât just a footnote in crypto history. Itâs a lesson. First, size matters. Smaller exchanges often look cheaper or more convenient, but they lack the security, liquidity, and support of bigger players. When youâre trading crypto, youâre not just betting on price - youâre betting on the platform staying alive. Second, always check if an exchange is still active. If you canât find recent reviews, if its website looks outdated, or if trading volume data is marked as âuntracked,â walk away. Third, never put more money into an exchange than youâre willing to lose. Even if itâs based in your country, even if it accepts your local currency, even if it looks legit - if itâs not regulated and not transparent, itâs a gamble.
Where to Go Instead
If youâre in Brazil and looking for a reliable crypto exchange today, you have better options:- Mercado Bitcoin - The largest Brazilian exchange. Fully regulated, supports BRL, and has strong security.
- Foxbit - Popular, easy to use, and has been around since 2013.
- Binance - Global giant with low fees, deep liquidity, and a Brazilian version of its site.
- Kraken - Trusted internationally, supports BRL deposits via bank transfer.
Final Verdict
Nanu Exchange was a short-lived experiment. It had the right idea - serving Brazilian crypto users with local currency support - but it lacked the execution. Low liquidity, a bad interface, no regulation, and zero transparency made it a ticking time bomb. Its shutdown in 2020 wasnât surprising to anyone who paid attention. Whatâs surprising is that people still search for it today, hoping it might come back. It wonât. The servers are offline. The domain is likely inactive. The team is gone. If youâre thinking of using Nanu Exchange, donât. Itâs gone. And if you held crypto there when it shut down - you lost it. No refund. No appeal. No second chance. The crypto world moves fast. Exchanges rise and fall every day. But the ones that last? Theyâre the ones you can trust - not the ones that look convenient.Is Nanu Exchange still operational?
No, Nanu Exchange shut down in November 2020. Its website no longer functions, and there has been no official communication or revival since then. Any site claiming to be Nanu Exchange today is likely a scam or phishing page.
What happened to the money people had on Nanu Exchange?
When Nanu Exchange shut down, users lost access to their funds. There was no recovery process, no customer support, and no official statement. Any crypto or BRL held on the platform was effectively lost. This is why using regulated, well-established exchanges is critical - they have legal obligations to protect user assets.
Why did Nanu Exchange fail when other Brazilian exchanges survived?
Nanu Exchange failed because it lacked liquidity, had a poor user interface, offered no regulatory compliance, and provided no customer support. Meanwhile, exchanges like Mercado Bitcoin and Foxbit invested in security, compliance, and customer service. They also had stronger funding and clearer business models. Nanu was a small, under-resourced operation that couldnât compete.
Were there any warnings before Nanu Exchange shut down?
Yes. Users reported declining liquidity, slow withdrawals, and a confusing interface months before the shutdown. By mid-2020, trading volume had dropped significantly. CoinMarketCap labeled it as untracked, and trust scores on review sites like BeInCrypto were falling. These were clear red flags that went ignored by most users.
Can I still access my old Nanu Exchange account?
No. The website is offline, and there is no way to log in or recover your account. Even if you saved your login details or private keys, the exchangeâs servers no longer exist. You cannot withdraw or access any assets that were held on Nanu Exchange after its shutdown.
Is Nanu Exchange listed on any major crypto tracking sites?
Nanu Exchange was previously listed on CoinMarketCap but was marked as an "Untracked Listing" due to unreliable volume data. After its shutdown, it was removed entirely. It does not appear on CoinGecko, CryptoCompare, or any other major tracking platform today.
What fees did Nanu Exchange charge?
Nanu Exchange charged a 0.25% taker fee and a 0.15% maker fee, which were average for its size and region. Bitcoin withdrawals cost 0.0008 BTC, matching the global average at the time. However, these fees became irrelevant once the exchange shut down and users lost access to their funds.
Was Nanu Exchange regulated?
No, Nanu Exchange was not regulated by any financial authority. It operated without a license, even in Brazil, where other exchanges like Mercado Bitcoin are fully licensed and monitored. This lack of oversight made it risky for users and contributed to its collapse.
SARE Homes
This is why you never trust some random crypto exchange just because it accepts BRL! No license? No support? Just vanishes? Pathetic. I told my cousin this exact thing last week when she was about to deposit into some 'local' exchange. She didn't listen. Now she's crying on Twitter. Classic.
SHASHI SHEKHAR
Honestly, Nanu wasn't even the worst - I've seen way sketchier platforms in India. But what kills me is how people still think 'local' means 'safe'. Look, liquidity isn't just about volume - it's about trust. If you can't even get your BTC out when you want, the platform is already dead. Nanu had a decent fee structure, sure, but no one was watching the backend. No audits, no transparency, no backup team. Just a guy with a WordPress site and a Stripe account. When the money started drying up, he just clicked 'shutdown' and booked a flight. Happens every 6 months somewhere. The real lesson? If it doesn't have a public team photo, don't touch it.
Vaibhav Jaiswal
I remember trying to use Nanu back in 2019. The interface felt like a 2012 Android app. I tried to withdraw 200 BRL in XRP and it took 3 days. Then it said 'insufficient liquidity'. I thought I was going crazy. Turns out, the order book was empty. I moved to Mercado Bitcoin after that. Best decision ever. Seriously, if you're in Brazil, just use Mercado or Foxbit. They're not sexy, but they don't vanish. Also, their customer service actually replies. đ
Abby cant tell ya
Ugh. Another crypto graveyard. I swear half these platforms are just pump-and-dump fronts with a 'BRL deposit' banner slapped on. People are so desperate for 'easy access' they ignore the red flags. Like, duh - if you're not regulated, you're not safe. It's not rocket science.
Ian Esche
This is why America needs to stop letting these foreign crypto scams slide. You think this is bad? Wait till you see the ones targeting Latin America with fake 'USDT stablecoin' apps. Nanu was just the tip of the iceberg. We need a global crackdown - not just 'be careful' memes.
Felicia Sue Lynn
The collapse of Nanu Exchange underscores a fundamental truth about decentralized systems: decentralization does not equate to safety. In fact, the absence of institutional oversight often creates a vacuum where trust is replaced by illusion. The human tendency to prioritize convenience over security is not unique to crypto - it is a recurring theme in financial history. From the South Sea Bubble to Lehman Brothers, the narrative remains unchanged: when the facade cracks, those without recourse suffer most. We must teach financial literacy not as a niche skill, but as a civic imperative.
Rachel Thomas
LMAO people still think Nanu was real? I remember seeing that 'Taboo' page and thinking it was a joke. Like, who names their site 'Taboo'? That's not a glitch, that's a middle finger.
Sierra Myers
I used Nanu for like 3 months. The app kept crashing. I tried to contact support - no reply. Then one day, boom. Gone. I lost $800. I didn't even bother reporting it. What's the point? No one cares. That's crypto. You win or you get owned.
SHIVA SHANKAR PAMUNDALAR
Nanu? That was a ghost town before it shut down. I remember checking the order book and seeing 0.00001 BTC bids on everything. It was like trading in a vacuum. People still blame the 'system' or 'regulation' - nah. It was just lazy. No dev team. No marketing. No nothing. Just a guy hoping to cash out before the heat came.
Shelley Fischer
The failure of Nanu Exchange is a textbook case of operational negligence masked as innovation. Regulatory compliance is not a burden - it is a foundational pillar of consumer protection. The absence of such structures does not signify freedom; it signifies vulnerability. Users who entrusted their assets to an unregulated entity must be educated, not ridiculed. The onus lies with the industry to elevate standards - not to exploit ignorance.
Puspendu Roy Karmakar
Man, I feel for anyone who lost money on Nanu. But here's the thing - if you're new to crypto, don't start with some random exchange. Start with Coinbase or Kraken. Even if they charge a little more, you sleep at night. I lost $200 on a sketchy site once. Never again. Just say no to 'easy' - go for 'safe'.
Komal Choudhary
I tried to log into Nanu last month just to see if it was back. Got a 404. Then I got a DM on Instagram from someone saying 'we're relaunching Nanu, deposit now!' I blocked them. So many scams now pretending to be dead exchanges. It's disgusting.
Tina Detelj
Nanu didn't just die - it evaporated like a puddle in the desert. And the worst part? People still Google it. Hoping. Praying. Believing. Like it's some lost city. But it's not Atlantis. It's a cautionary tale written in code and silence. The real tragedy isn't the lost coins - it's the blind faith that kept people coming back to a ghost.
Wilma Inmenzo
NANU WAS A GOVERNMENT STING OPERATION. I SWEAR. Why else would they vanish RIGHT after the Brazilian tax crackdown? CoinMarketCap 'untracked' it? That's a cover-up. They took the money, wiped the servers, and let the little people take the fall. The real exchange? Still running. Underground. They're laughing at us.
priyanka subbaraj
I lost everything on Nanu. No refund. No help. Just silence. Don't be stupid like me.
George Kakosouris
Nanu was a liquidity sinkhole wrapped in a 'Brazilian-friendly' marketing gimmick. Zero transparency, zero accountability. The whole thing was a front for laundering BRL through crypto. They never intended to be an exchange - just a one-way valve. Classic. And now the 'experts' are pretending this is a lesson in 'trust'. Nah. It's a lesson in greed.
Tony spart
Why do we keep letting these third-world crypto scams get away with it? In America, we'd shut this down in a week. No license? No servers? No lawyers? That's not a startup - that's a crime. And now people are still searching for it like it's a lost pet. Wake up. It's gone. And you were dumb enough to give them your money.
Mark Adelmann
I used Nanu for a few months in 2019 - it was okay, but honestly, the UI was a mess. I switched to Foxbit after my first withdrawal took 5 days. The real takeaway? Don't fall for 'local' as a safety signal. Safety comes from structure, not geography. Mercado Bitcoin has 24/7 support, insurance, and a real team. Nanu had a WhatsApp group and a dream. Guess which one survived?