Crypto Asset Service Provider: What They Are and How to Spot Legit Ones

A crypto asset service provider, a company that offers tools or services to manage, trade, or store digital assets like Bitcoin or tokens. Also known as crypto platform, it can be a wallet, exchange, lending service, or even an airdrop organizer. But here’s the truth: most of them aren’t what they claim. In 2025, over $150 million in crypto assets were frozen in the Philippines alone because the platforms handling them had no license. That’s not a glitch—it’s the norm for unregulated providers.

Real crypto exchange, a marketplace where users buy, sell, or trade cryptocurrencies. Also known as crypto trading platform like Coinbase or Swyftx follow clear rules: they verify users, protect funds, and respond to support requests. Fake ones? They vanish after you deposit. Look at HomiEx or BIJIEEX—zero volume, zero reviews, zero legitimacy. Then there are airdrop scams, fake reward programs that trick you into handing over private keys or paying "gas fees" to claim free tokens. CKN and DSG tokens? Worthless. But the scam pages? Still active. They promise free money, but all they take is your security.

Even regulated-sounding names like BEX Mauritius Block Exchange or VAEX look official—until you dig. No trading volume. No user feedback. No transparency. These aren’t startups; they’re digital ghosts. Meanwhile, real crypto asset recovery, the process of retrieving lost or frozen digital assets through legal or technical means is rare and expensive. The best recovery? Never losing it in the first place.

What you’ll find below isn’t a list of hype. It’s a map of what’s real, what’s risky, and what’s outright fake. From auto-reward tokens like BonusCake to dead projects like XTblock, we’ve dug into every claim. You’ll learn how to tell if a platform is built to serve you—or to take from you. No fluff. No promises. Just what actually works in today’s crypto world.