Security Compliance
CoinField marketed itself as a highly secure exchange using cold storage, multi-signature wallets and encryption. The regulatory record tells a different story: the OSC found the platform did not have sufficient crypto assets in custody to satisfy investor withdrawal requests and misled both investors and the regulator about why withdrawals were delayed. Whatever its technical security, customer funds were not safe. This is a textbook example of why we recommend holding your own coins in your own crypto wallet rather than leaving them on any exchange.
Crypto.com is a highly secure exchange by industry standards: cold storage custody, two-factor authentication, encrypted user data, mandatory withdrawal address whitelisting with email confirmation, and substantial insurance coverage on custodied assets. For balance, it did suffer a hack in January 2022, when roughly $34 million was taken from around 483 accounts, but Crypto.com fully reimbursed affected users and overhauled its security in response, and there have been no comparable incidents since. As always, we recommend moving long-term holdings to your own crypto wallet.
CoinField marketed itself as a highly secure exchange using cold storage, multi-signature wallets and encryption. The regulatory record tells a different story: the OSC found the platform did not have sufficient crypto assets in custody to satisfy investor withdrawal requests and misled both investors and the regulator about why withdrawals were delayed. Whatever its technical security, customer funds were not safe. This is a textbook example of why we recommend holding your own coins in your own crypto wallet rather than leaving them on any exchange.
Crypto.com is a highly secure exchange by industry standards: cold storage custody for the majority of assets, two-factor authentication, encrypted user data, mandatory withdrawal address whitelisting with email confirmation, and substantial insurance coverage on custodied assets. For balance, it did suffer a hack in January 2022, when roughly $34 million was taken from around 483 accounts, but Crypto.com fully reimbursed affected users and overhauled its security in response, with no comparable incidents since. As always, we recommend moving long-term holdings to your own crypto wallet.
CoinField marketed itself as secure but the OSC found it misled investors about the state of customer funds. Crypto.com holds SOC 2 and ISO certifications, mandates MFA and withdrawal whitelisting, and carries substantial third-party insurance — with the 2022 hack fully reimbursed and no comparable incidents since. Only Crypto.com is relevant for Canadian users here.
Regulatory Compliance
CoinField's FINTRAC registration was ceased, and the company was never registered with Canadian securities regulators. In August 2024, Ontario's Capital Markets Tribunal found it violated securities law through unregistered trading, illegal distribution and misleading investors, and in 2025 it was permanently banned from Ontario's capital markets with over $3 million in combined penalties, disgorgement and costs. CoinField did not participate in the proceedings.
Crypto.com is among the most regulated crypto platforms available to Canadians. It was the first platform to sign a Pre-registration Undertaking with the CSA and OSC in August 2022, and in May 2025 it received restricted dealer registration in every province and territory, making it only the second major global exchange after Coinbase to reach this status. It's now working toward full investment dealer registration and CIRO membership. It's also registered with FINTRAC, and globally holds a MiCA license in the EU, US money transmitter licenses, and licenses in Singapore, the UK and Dubai.
CoinField's FINTRAC registration was ceased, and the company was never registered with Canadian securities regulators. In August 2024, Ontario's Capital Markets Tribunal found it violated securities law through unregistered trading, illegal distribution and misleading investors. In 2025 it was permanently banned from Ontario's capital markets with over $3 million in combined penalties, disgorgement and costs. CoinField did not participate in the proceedings.
Crypto.com is among the most regulated crypto platforms available to Canadians. It was the first platform to sign a Pre-Registration Undertaking with the CSA and OSC in August 2022, and on May 8, 2025, it received restricted dealer registration in every province and territory in Canada — only the second major global exchange after Coinbase to reach this status. It's currently working toward full investment dealer registration and CIRO membership as the next step. It's also registered with FINTRAC, and globally holds a MiCA licence in the EU, US money transmitter licences, and licences in Singapore, the UK and Dubai.
CoinField had its FINTRAC registration ceased, was never registered with Canadian securities regulators, and was permanently banned from Ontario's capital markets in 2025 for securities violations. Crypto.com is registered with FINTRAC and operates as a CSA Restricted Dealer in every Canadian province and territory.
Customer support
There is no customer support because there is no company left to contact. Former customers with unfulfilled withdrawals were harmed when the platform collapsed, and the tribunal noted the total harm to investors remains uncertain. If you were affected, you can report your experience to the OSC. If anyone contacts you claiming to recover your lost CoinField funds for a fee, that is a recovery scam, a common second-wave fraud targeting victims of collapsed exchanges.
Crypto.com's customer support remains its weakest area: users love the app, security and coin range, but support is chat and ticket-based and can be slow for complex issues. On the education front, the platform now offers Crypto.com University with courses and articles for beginners, so our earlier criticism about missing educational resources no longer applies.
There is no CoinField customer support because there is no company left to contact. Former customers with unfulfilled withdrawals were harmed when the platform collapsed, and the tribunal noted the total harm to investors remains uncertain. If you were affected, you can report your experience to the OSC. If anyone contacts you claiming to recover your lost CoinField funds for a fee, that is a recovery scam.
Crypto.com's customer support remains its weakest area: users love the app, security and coin range, but support is chat and ticket-based and can be slow for complex issues. On the education front, the platform now offers Crypto.com University with courses and articles for beginners.
Crypto.com's 24/7 live chat is the only relevant support option for Canadians. CoinField has no support function at all.
Conclusion
CoinField is not a legitimate operating exchange. It collapsed in 2023 with unfulfilled customer withdrawals, was permanently banned from Ontario's capital markets in 2025, and impostor scam sites now operate under its name. Avoid any site presenting itself as CoinField. If you were a CoinField customer with unmet withdrawals, report your experience to the OSC. If anyone contacts you offering to recover your funds for a fee, that is a recovery scam.
Crypto.com is the clear choice for Canadians. As one of only two major global exchanges with restricted dealer registration across every Canadian province and territory (since May 2025), it offers 400+ coins, free Interac deposits, a polished beginner app, CRO Visa card with cashback, staking, and Crypto.com University for newcomers. The main trade-offs are slower customer support and a spread built into app pricing — use the Exchange for better fees on volume.
We recommend choosing Crypto.com over CoinField for your cryptocurrency trading needs. By using our referral link, you support us in conducting comprehensive independent analyses of crypto trading options for Canadians.
If you find that Crypto.com doesn't meet your requirements, we encourage you to explore our monthly-updated list of the best exchanges for Canadians to trade crypto.
