List of Fake Crypto Exchanges on Telegram in 2025: 10 Scams to Avoid

If you’ve spent time in crypto Telegram groups, you’ve seen the pitch: “Join this new exchange, zero fees, VIP copy trading, instant bonuses.” The website looks slick, deposits go through, and at first, it feels like you’ve discovered a hidden gem. Then the problems start. Withdrawals freeze, “tax fees” appear, and support disappears. Welcome to the world of fake crypto exchanges on Telegram, a growing scam ecosystem designed to drain traders.

In 2025, security researchers and regulators have flagged dozens of fake platforms that run almost entirely through Telegram funnels. These aren’t just phishing sites, they are fully developed fraudulent exchanges, complete with dashboards, “customer support,” and fake proof of trades. Victims around the world have lost millions of USDT and BTC to these operations.

This article ranks the Top 10 fake exchanges circulating on Telegram right now, explains how they work, and shows you how to spot them before it’s too late.

Why Telegram is a breeding ground for fake exchanges

Telegram is the crypto world’s town square, but its openness is also its biggest weakness. Here’s why scammers love it:

• Direct access: Telegram lets scammers DM traders directly, bypassing filters and moderation.
• Low cost of setup: It takes minutes to create a professional-looking channel or group.
• Community hype: Bots and fake members create the illusion of popularity and credibility.
• Disposable branding: If one scam name gets exposed, another one launches instantly with a fresh logo and domain.

Fake exchanges thrive in this environment. They don’t need years of brand building. All they need is a few Telegram channels, some bots for hype, and a cloned exchange UI.

How fake crypto exchanges scam users

Before we jump into the ranking, it’s important to understand their playbook:

• The hook: A Telegram “analyst” or VIP group shares a link to the “exchange.”
• Deposit stage: Victims are encouraged to deposit USDT, BTC, or ETH with the promise of fast returns.
• Dashboard theater: A fake trading dashboard shows balances increasing, trades executing, and “profits” piling up.
• The block: Withdrawals get delayed behind excuses: KYC verification, tax prepayment, “liquidity limits.”
• The squeeze: Scammers demand more deposits to unlock funds. Victims who pay see requests repeat until they stop.

With that in mind, here are the top 10 fake crypto exchanges on Telegram to avoid in 2025.

Top 10 Fake Crypto Exchanges on Telegram

1. Xinbi Guarantee: The $8.4 Billion Mega Scam

Xinbi Guarantee, also known as Xinbi, is one of the biggest fraud cases linked to Telegram. This Chinese-language platform promised traders “guaranteed” protection on transactions, using Telegram groups as its trust layer. In reality, it was part of a pig-butchering network that scammed users out of nearly $8.4 billion USDT before a crackdown in 2025.

The platform used slick Telegram bots for “escrow” and fake dispute resolution. Traders thought they were safe, but the guarantee itself was run by scammers. Even after Telegram banned Xinbi groups, spinoffs quickly appeared under new names.

Red flag takeaway: No exchange or marketplace can “guarantee” profits. If you see Telegram groups promising risk-free trades, walk away.

2. CoinWpro: The Impersonator Exchange

CoinWpro is a fake exchange that impersonates the legitimate global exchange CoinW. It spread heavily in Telegram groups in 2024 and 2025, tricking users with a cloned UI, fake app downloads, and a convincing dashboard.

Scammers allowed small early withdrawals to build trust, then blocked larger ones behind fake “taxes” and “electricity fees.” Victims often reported losing between $2,000 and $20,000 USDT before realizing the platform was fake.

Red flag takeaway: Always verify exchange domains through official sites or verified social links. A single extra word like “pro” or “vip” in the domain is often the giveaway.

3. BIPPAX: The Derivatives Trap

BIPPAX marketed itself in Telegram as a “next-generation derivatives exchange” with high leverage trading. The site had professional branding, copy-pasted from legitimate venues. Victims were invited into Telegram “VIP groups,” where admins showed screenshots of huge profits.

The catch? Deposits were accepted, but withdrawals never worked. Scammers invented reasons like “insufficient margin reserve” or “compliance fees” to block exits. Some victims even paid extra, thinking it was a solvable issue, only to lose more.

Red flag takeaway: If an exchange is only promoted inside Telegram groups and has zero independent coverage, it’s almost certainly a trap.

4. Dahua VIP: The “Withdrawal Tax” Scam

Dahua VIP, also called Dahuag VIP, is infamous for using fake withdrawal taxes to extort users. Victims reported receiving emails from “compliance teams” claiming they had exceeded tax thresholds and must pay upfront to unlock withdrawals.

One trader reportedly lost over $50,000 USDT by paying “tax fees” multiple times before realizing the funds were gone. Telegram groups promoting Dahua VIP often claimed it was an exclusive “Asia-only” exchange with hidden benefits.

Red flag takeaway: Legitimate exchanges never demand tax prepayment to release your own funds. Taxes are paid to governments, not to platforms.

5. I Texus Trade: The High-Yield Ponzi Exchange

I Texus Trade has been flagged across Telegram for its Ponzi-style promises. It advertises “guaranteed daily returns” of 3–5%, luring victims into group chats where bots post fake withdrawals and “profit” screenshots.

The site encourages users to “upgrade tiers” with higher deposits. Eventually, withdrawals freeze and the entire Telegram channel disappears, replaced by a new brand. This cycle has been repeated multiple times under variations of the I Texus name.

Red flag takeaway: Any exchange offering fixed daily returns is a Ponzi dressed as a trading platform.

6. Bitorn: The Fake Arbitrage Hub

Bitorn presents itself as an “arbitrage exchange,” claiming to exploit price differences across markets. Telegram groups hype it as a “secret weapon” for traders looking for passive income.

Once users deposit funds, the dashboard shows fake arbitrage trades generating profits. When they attempt to withdraw, they’re told to pay a “liquidity fee” or upgrade to a premium account. Predictably, payments vanish and withdrawals never arrive.

Red flag takeaway: Real arbitrage exists but no legitimate platform offers guaranteed arbitrage profits, and certainly not through Telegram links.

7. Odibit: The P2P Ghost Platform

Odibit claims to be a P2P (peer-to-peer) exchange, similar to Binance P2P or Paxful. Telegram groups promote it as a “low-fee global trading hub.”

In reality, sellers never deliver funds, and disputes are resolved by fake moderators who always side with the scammer. Victims lose both their crypto and their fiat, with no recourse.

Red flag takeaway: Stick to well-known P2P exchanges with strong escrow protection. Unknown Telegram-linked platforms are designed to ghost you.

8. Gonadex: The Balance Freeze Scam

Gonadex, another fake exchange, lures users in with sign-up bonuses advertised in Telegram groups. Traders report seeing their balances double after depositing, only to find withdrawals frozen.

The platform typically invents reasons like “anti-money laundering verification” or “regional restrictions,” demanding additional deposits to unlock accounts. In some cases, victims sent multiple deposits, thinking they were clearing a compliance hurdle.

Red flag takeaway: If your “profits” only grow inside a dashboard but can’t leave the exchange, it’s not real money, it’s a trap.

9. AltLex & DON CRYPTON: Token Pump Exchanges

AltLex and DON CRYPTON are Telegram-linked brands that promote fraudulent token launches and exchange listings. They pay actors to record testimonials and seed hype in trading groups.

Users are told to deposit funds to access “early listings” on their exchange platforms. In reality, the tokens are worthless, and the exchanges vanish once liquidity dries up.

Red flag takeaway: Paid actors and testimonials are a red flag. If the main promotion happens through Telegram influencers, be cautious.

10. SZ Trades: The Paid Actor Exchange Scam

SZ Trades is a fake exchange that gained traction in late 2024. Investigations revealed it hired actors to pose as analysts and “successful traders,” using Telegram videos to lure investors.

Its exchange dashboard mimicked legitimate platforms, but all balances were fabricated. Once enough deposits flowed in, the Telegram group shut down, leaving users stranded.

Red flag takeaway: Professional-looking videos don’t mean legitimacy. Always verify exchange registration and regulatory licenses.

How to protect yourself from fake exchanges on Telegram

• Verify domains: Always type exchange URLs manually or use bookmarks.
• Test withdrawals: Deposit a tiny amount first and attempt withdrawal immediately.
• Never prepay taxes: Exchanges don’t charge taxes before releasing funds.
• Research reputation: Search for independent reviews outside of Telegram.
• Avoid Telegram-only platforms: If a platform only exists in Telegram chats, it’s likely fake.

Safer alternative: Trade with CoinEx

Instead of risking funds on unknown platforms, use a regulated, battle-tested exchange like CoinEx. CoinEx offers:

• Global coverage with strong security infrastructure.
• Fast execution for both spot and futures markets.
• Transparent fees and no hidden withdrawal charges.
• User-first safety standards, including 100% reserve backing.

Open a free CoinEx account today and trade with confidence, knowing your assets are secure and your withdrawals are always honored.

FAQ

1. What is a fake crypto exchange on Telegram?

It’s a fraudulent trading platform promoted through Telegram groups that accepts deposits but blocks withdrawals using fake fees or excuses.

2. How do fake exchanges trick users?

They use professional-looking dashboards, fake profits, and social proof in Telegram groups to build trust before freezing funds.

3. What are the biggest fake exchanges in 2025?

Notable names include Xinbi Guarantee, CoinWpro, BIPPAX, Dahua VIP, I Texus Trade, Bitorn, and Odibit.

4. How much have traders lost to Telegram fake exchanges?

Losses range from a few thousand USDT per trader to billions collectively, with Xinbi Guarantee alone linked to $8.4 billion.

5. Can you recover funds from a fake exchange?

Recovery is rare, but reporting early to exchanges, regulators, and authorities can sometimes trigger freezes.

6. How do I stay safe on Telegram?

Avoid unknown exchange links, verify official domains, and stick to trusted exchanges like CoinEx.