Unreliable Crypto Exchange: Spot Scams and Avoid Losing Your Money

When you trade crypto, you’re trusting a platform with your money—and not all platforms are worth that trust. A unreliable crypto exchange, a platform that lacks transparency, regulatory oversight, or verifiable security practices. Also known as fake crypto platform, it often disappears after collecting deposits or drains accounts through hidden fees and rigged prices. These aren’t just risky—they’re dangerous. In 2025, over 120 unregulated exchanges were exposed as scams, many of them using fake reviews, cloned websites, and promises of guaranteed returns to trap new users.

How do you tell the difference? Look for three red flags: no public team or company info, zero third-party audits, and no record on official financial registries like FinCEN or FCA. Platforms like SOLIDINSTAPAY, a crypto exchange with no user reviews, no proof of funds, and zero regulatory licensing, and GoodExchange, a non-existent platform with no credible traces online, are textbook examples. They copy names from real exchanges, use stock photos of teams, and vanish after a few months. Meanwhile, legitimate platforms like Gemini or Kraken publish their licenses, audit reports, and customer support records openly.

Unreliable crypto exchanges often tie into other scams—like fake airdrops, dead tokens, or fake DeFi projects. Look at YOTSUBA Koiwai (YOTSUBA), a meme coin that doesn’t exist but was promoted on social media as real, or SUIA, a token with zero circulation and no website. These are not just low-value coins—they’re bait. Scammers use them to lure people into trading on shady exchanges that then lock withdrawals or demand more fees to "release" your funds. Even platforms that look legit, like RadioShack Swap, a DEX with shallow liquidity and unclear data, can be traps if you’re not checking volume and history.

You don’t need to be a pro to stay safe. Start by asking: Is this exchange listed on CoinMarketCap or CoinGecko with real trading volume? Does it have a public address for customer support? Are there real user complaints on Reddit or Trustpilot? If the answer is no to any of those, walk away. The posts below show you exactly how these scams operate—from fake IDOs to dead DEXs—and how to avoid them in 2025. You’ll see real cases, real losses, and real fixes. No fluff. Just what works.