My1Ex Crypto Exchange Review: Why This Platform Is Dangerous and Likely Dead

If you’re considering using My1Ex to trade cryptocurrency, stop. Right now. This isn’t a slow platform or one with a few bugs-it’s a known danger zone. As of January 2026, multiple independent reports confirm that My1Ex has serious, systemic problems that make it unsafe for anyone who wants to protect their money. Users can’t withdraw funds. Customer support doesn’t respond. And the platform itself may no longer even be running. This isn’t speculation. It’s documented history.

My1Ex Was Never a Real Exchange

My1Ex never built the kind of infrastructure that trustworthy crypto exchanges rely on. There’s no public record of its founders, no registered business address, no licensing from any financial authority. Compare that to platforms like Bybit, which is ISO 27001 certified and publishes regular proof-of-reserves audits. My1Ex offered none of that. No transparency. No accountability. Just a website with a trading interface and a promise you couldn’t trust.

What little information exists comes from user complaints and third-party watchdogs. Revain.org listed My1Ex alongside other low-tier platforms like OOOBTC and DragonEX-exchanges known for obscurity, poor security, and eventual collapse. My1Ex didn’t even offer a meaningful selection of coins. It didn’t list Bitcoin or Ethereum as primary pairs. Instead, it pushed obscure tokens with no market demand, making it easy for operators to manipulate prices or vanish with liquidity.

Withdrawal Issues Are the Smoking Gun

The biggest red flag? Withdrawal issues. This isn’t a minor complaint-it’s the core failure of the entire platform. Multiple sources, including Libpa.org’s January 12, 2026 report, explicitly state that users were locked out of their funds. People deposited Bitcoin, Ethereum, or altcoins, traded them, and then couldn’t pull their money out. Not after a few hours. Not after a few days. After weeks. After months.

That’s not a technical glitch. That’s how scams work. Legitimate exchanges process withdrawals in minutes or hours, even during high volume. Bybit handles over 100,000 withdrawals daily with 99.9% success. My1Ex? Users reported being told to wait, then given excuses, then ignored. Some accounts were frozen without explanation. Others vanished entirely when users tried to log in.

There’s no record of My1Ex ever publishing proof-of-reserves. No audits. No third-party verification. That means there’s no way to know if the platform ever held the funds it claimed to. In crypto, if you can’t withdraw, you don’t own your money. And if you don’t own your money, you’re not trading-you’re gambling with a rigged table.

No Support, No Documentation, No Trust

When users reached out for help, they got silence. No live chat. No email replies. No phone number. No Twitter response. That’s not poor customer service-that’s abandonment. Reputable exchanges invest in support teams because they know trust is everything. Finst, for example, offers 24/7 multilingual support and detailed educational content for new traders. My1Ex offered nothing but a login screen.

There’s also zero documentation. No guides on how to deposit. No tutorials on trading pairs. No FAQ section that actually answers questions. That’s not an oversight. It’s a sign the platform wasn’t built for users-it was built to collect deposits and disappear. The lack of educational resources isn’t just inconvenient-it’s dangerous. New traders get confused, make mistakes, and lose money. On a real exchange, you learn. On My1Ex, you’re left to figure it out alone… while your funds sit frozen.

Why It’s Likely Dead Now

As of early 2026, My1Ex.com appears unreachable or redirects to unrelated pages. Domain records show no active hosting. No social media accounts have posted since late 2024. No news outlets have covered it positively. Even scam watchdogs have moved on-because the case is closed.

Platforms like DragonEX followed the same path: short-lived, no transparency, withdrawal problems, then gone. And just like DragonEX, scam sites are now impersonating My1Ex to trick new users. That’s the final nail in the coffin. When criminals start using your name to run their own scams, your brand is dead-and so are your users’ funds.

There’s no comeback story for My1Ex. No roadmap. No team announcement. No audit. No recovery plan. The silence speaks louder than any review ever could.

What to Use Instead

If you want to trade crypto safely, stick with platforms that have proven track records. Bybit, for example, serves over 850,000 users, offers 156 cryptocurrencies, and maintains SOC 2 compliance. Its trading fees start at 0.1% and drop to 0.03% for active traders. It also publishes monthly proof-of-reserves audits so you can verify your funds are real.

Another solid option is Finst, which supports over 2,600 assets-including stocks, commodities, and crypto-all in one place. Its fees are flat at 0.15%, with no hidden charges. And unlike My1Ex, Finst has real customer support, mobile apps, and educational content for every skill level.

These platforms didn’t get where they are by promising fast profits. They got there by being reliable, secure, and transparent. My1Ex promised nothing but access-and took everything else.

What You Should Do Right Now

• If you still have funds on My1Ex: Stop hoping. Document everything. Report the issue to your local financial regulator and crypto watchdog groups.
• If you’re thinking of signing up: Don’t. Not even to look around. The moment you deposit, you’re risking your money.
• If you’ve already lost money: You’re not alone. But recovery is nearly impossible. Focus on preventing future losses by switching to a verified exchange.

There’s no shortcut to safety in crypto. No hidden gem exchange that skips the basics. If a platform doesn’t let you withdraw, doesn’t answer support tickets, and doesn’t publish audits-it’s not an exchange. It’s a trap.

My1Ex Is a Warning, Not a Choice

This isn’t about whether My1Ex was “bad” or “not good enough.” It’s about whether you’re willing to risk your money on a platform that has already failed every basic test of trust. The crypto space is full of scams. My1Ex isn’t one of the obscure ones you might stumble into by accident. It’s one of the well-documented ones. The ones that have already been warned against.

Don’t be the next person who says, “I didn’t know.” You know now. And knowing is the first step to staying safe.