This is an important notice for everyone in the Nexa community. As some of you may have already heard, XeggeX – a centralized exchange that listed Nexa is officially shutting down and filing for insolvency. This follows a hack in February and other recent operational issues that have left the platform unable to continue. According to their team, more information, including legal and contact details, will be shared soon. But the most important thing right now is this:
If you have any funds on XeggeX — withdraw them immediately.
We don’t know how long their systems will remain operational, and once a platform enters insolvency proceedings, access to your assets may become very difficult if not impossible.
Exchanges Are Not Blockchains
This is also a good moment to remind everyone of a truth that often gets overlooked:
Exchanges are middlemen. Not your keys = not your coins.
No matter how familiar or “safe” a platform feels, it’s not a wallet, it’s not a blockchain. When you leave your coins on an exchange, you’re trusting someone else to hold them for you — and as we’ve seen time and time again, even well-known platforms can vanish overnight.
What to Do Instead
If you’re holding Nexa, we strongly recommend moving your coins into a native or hardware wallet. Three solid options:
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Nexa Full-Node QT Wallet – Ideal for users who want full control and chain validation.
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Wally Wally – A user-friendly, lightweight option that still puts you in control of your private keys.
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OneKey Hardware Wallet – An open-source hardware wallet with multiple options for cold storage.
These wallets give you full ownership of your funds, no third party, no waiting on withdrawals. Just you and your coins, exactly how peer-to-peer money is supposed to work.
Use Exchanges for What They’re Meant For
We’re not saying don’t use exchanges. They’re useful tools for buying and selling, especially for newer users or those accessing different markets. But once the trade is done? Move your coins.
Trade on exchanges. Store on-chain.
That simple habit could save you a lot of headaches. We’ll keep the community posted with any official updates from XeggeX as they come out. In the meantime, stay sharp and if you need help setting up a Nexa wallet or have questions about withdrawals, just ask in the forum or community groups. Stay safe out there.