diff --git a/src/subdomains/core/liquidity-management/adapters/balances/exchange.adapter.ts b/src/subdomains/core/liquidity-management/adapters/balances/exchange.adapter.ts
index 4764b6cef8..10a86d9a68 100644
--- a/src/subdomains/core/liquidity-management/adapters/balances/exchange.adapter.ts
+++ b/src/subdomains/core/liquidity-management/adapters/balances/exchange.adapter.ts
@@ -62,14 +62,15 @@ export class ExchangeAdapter implements LiquidityBalanceIntegration {
   async getForExchange(exchange: string, assets: LiquidityManagementAsset[]): Promise<LiquidityBalance[]> {
     const exchangeService = this.exchangeRegistry.getExchange(exchange);
 
-    // not configured (no API credentials) -> skip gracefully, warn once
+    // not configured (no API credentials) -> skip, warn once. No balances are reported on purpose:
+    // a zero balance would be persisted and could trigger liquidity rules, masking a config error
     if (!exchangeService.isConfigured) {
       if (!this.unconfiguredWarned.has(exchange)) {
         this.unconfiguredWarned.add(exchange);
         this.logger.warn(`Exchange ${exchange} has no credentials configured — skipping liquidity balance`);
       }
 
-      return assets.map((a) => LiquidityBalance.create(a, 0, 0));
+      return [];
     }
 
     try {