Koinex - Exchange Review

First look

Koinex flourished in 2017–2018. At that time, it seemed to be the largest player in the cryptocurrency market in India. Signup was decent, coins were available, and BTC pairs traded actively. The exchange grew fast - on peak days, trading volumes hit hundreds of millions. Then in 2018 RBI issued its crypto banking ban. Things fell apart quickly. Koinex announced closure on June 27, 2019. They said funds would be returned by July 15, and wallets would remain alive for a while. After that, it all faded.

Now the site still shows as an exchange listing, but no markets or volume recorded. Status: untracked, inactive.

What they say

Long ago the site bragged about being India’s trusted exchange. Transparency, data alliance, visible volumes, easy deposits and withdrawals. Now none of that shows - only an empty listing and stale archive pages. Most mentions online now just show its shutdown post and how the team promised refunds before leaving.

What I saw

I opened the Koinex link. Interface still loads but charts blank. No trading panels, no coins, no order books, no volume. Trades tab is empty. Deposit and withdraw options don’t exist. It’s like landing at an airport with no flights or staff.

Scrolling around - they once had blog posts, live chat, support emails. All gone or broken. Search results mostly historical posts and news archives. Few Reddit mentions - a handful of users saying they got their refunds, others saying long delays.

Looking around

Crypto trackers list Koinex as inactive or untracked, zero volume or pairs. No traffic metrics. No GitHub. No social activity. The overall footprint looks erased.

Articles mention regulatory blockage as the key reason - banking partners pulled out after the RBI ban, liquidity vanished, infrastructure costs remained too high. Most users got withdrawal windows, but that ended in mid-July 2019. After that, Koinex just shut trading and left.

What still works

The site page loads.
It still says “exchange” but there’s no function.
Layout looks like a template - but no real items.

That’s all.

Why it’s empty

Because it closed permanently. After regulatory pressure, banking support disappeared. Without deposits and withdrawals, users left. Liquidity dried up. The team shut it down. Now there’s only a listing in archives.

An exchange without traders or assets is just an empty catalog. Koinex fell into the pit of regulatory uncertainty and never pulled out.

Who might use it

Honestly? Only someone researching old Indian exchanges. Or someone misclicking expecting to trade. You can’t deposit, won’t trade, won’t withdraw. It’s pointless for anyone today.

Status in 2025

Koinex lives in history. Still technically online in directories, but dead as a trading venue. No updates, no community, no market. Just a ghost in the archive.

Should you try

No. Zero reason. If you somehow find funds there (unlikely after years), you can’t trade. Withdrawals ended long ago. Support doesn’t exist. Better not drop a coin there at all.

Final thoughts

Koinex had a quick run and made a mark in India’s early crypto era. Then RBI’s ban, banking closures, uncertain policy collapsed it. Now it exists only on old screenshots and listings. As an exchange, it died six years ago. There’s no market, no trades - it’s just a name and an empty shell.