After an old exchange closes, you may get stuck when trying to deposit into a new platform. Compliance checks need you to confirm the legal source of the funds before you moved them into that closed exchange. As long as you can prove where the funds came from when they were sent to the closed platform, there is a way to pass the review. You can use three types of alternative materials, depending on your situation.
Option 1: Provide proof of the source before the funds entered the old exchange
This is the most direct path. The core of the compliance review is to trace the original legal source of the funds, not to prove whether the old exchange failed. If you kept source records when you first moved assets into that old platform, submit them directly:
If the assets came from salary or income: submit pay stubs, bank statements to prove the source of funds is legal.
If the assets came from a withdrawal from another exchange: provide screenshots of that withdrawal record (showing the amount, time and TxID), proving the assets came from another already verified account.
If the assets came from an OTC trade or a private transfer: provide the trade records, chat screenshots, or any evidence that explains the nature of the transfer.
These materials can directly replace a "withdrawal record from the old platform" and show the reviewer that the funds already had a clean source before they were moved into the old exchange.
Option 2: Use historical records from the old exchange (if you can still log in partially)
If the old platform hasn't fully shut down its interface and you can still log in to some extent, log in first and capture the following information:
Screenshot of the KYC verification page (showing your identity verification status)
Screenshot of the deposit or trade history (showing when and from where the funds entered that platform)
Screenshot of the account balance (proving you actually held assets there)
Use these screenshots as supporting proof that "the funds indeed came from that platform." If you cannot log in at all, skip this option.
Risk warning: If during the deposit review you are asked "Have you ever interacted with a sanctioned address (e.g., Tornado Cash)?" you must answer truthfully. The OKX CEO has publicly stressed that if a user deposits funds originating from a sanctioned entity, compliance and risk control mechanisms will be triggered and the account will be removed. Hiding or falsifying information only makes the review harder.
Option 3: Use on-chain tracing tools to map the fund flow
Use a blockchain explorer (such as Etherscan, BscScan, etc.) to check the transaction history of your deposit address. Trace the full flow of the current assets before they were sent to the old exchange:
Copy your deposit address and search it in a blockchain explorer.
Find the transaction when the funds entered the old exchange and note the source address.
Keep tracing the source address backward, one step at a time, until you reach a source that can be explained.
Organize the flow into a chart with arrows and label each address's identity.
If the fund source is a hot or cold wallet address of another exchange, your withdrawal record should match. If the path is more complex (involving multiple intermediate addresses), the more complete the chain and the clearer the labels, the higher the chance of passing the review.
Common reasons for failure
The most common mistake is providing only a screenshot of the "old exchange closed" announcement without any fund source proof. The platform needs evidence of a legal source, not proof that an exchange shut down. Another problem is mismatched dates on the materials—for instance, you provide a bank statement from 2023, but the funds entered the old exchange in 2024, making it impossible for the reviewer to connect them.
Next steps
We recommend preparing the Option 1 materials first (proof of the source before the funds entered the old exchange). This is the most convincing. If those materials are incomplete, then add Option 2 and Option 3 materials as support. When submitting, attach a written explanation that clearly walks through the fund flow so the reviewer can quickly understand it. If the review takes longer than 48 hours, be ready to keep your contact method available—the compliance team may need additional details.
