Ethfinex Review: What Happened to This Crypto Exchange and What You Need to Know

When you hear Ethfinex, a now-defunct cryptocurrency exchange that once ranked among the top platforms for Ethereum trading and OTC deals. Also known as Ethfinex Exchange, it was a favorite among traders who wanted deep liquidity and low fees—but it vanished without warning. Ethfinex didn’t just disappear. It merged with EQONEX, a crypto exchange that later filed for bankruptcy in 2022 after losing user funds and failing audits. That merger was supposed to make things better. Instead, it buried Ethfinex under layers of mismanagement, lack of transparency, and eventually, legal collapse.

What happened to Ethfinex isn’t just a story about one platform failing. It’s a warning about how exchanges can look solid until they’re not. Ethfinex had strong tech, a clean interface, and decent trading volume. But it never fully separated from its parent company’s shaky finances. When EQONEX collapsed, Ethfinex users couldn’t withdraw. No refunds. No answers. Just silence. And today, if you search for Ethfinex, you’ll find redirects to dead pages or scam sites pretending to be the real thing. That’s why knowing the difference between a real exchange and a ghost is critical. Regulated platforms like Coinbase, a U.S.-based exchange with clear compliance, insurance, and user protection or Kraken, a long-standing exchange with transparent audits and strong security don’t vanish overnight. They’re built to last.

If you’re looking at old Ethfinex reviews, be careful. Many are outdated, rewritten by bots, or planted by copycat sites trying to trap new users. The real lesson isn’t about Ethfinex’s features—it’s about what to look for before you deposit any money. Does the exchange publish regular audits? Is it registered with a financial authority? Do real users talk about withdrawals working? If the answers are no, walk away. Below, you’ll find real reviews of exchanges that actually delivered—some good, some terrible—and the red flags that made them fail. You won’t find fluff here. Just facts about what works, what doesn’t, and how to protect your crypto from the next Ethfinex.