CPDAX was a defunct South Korean crypto exchange that shut down in 2020. Learn why it failed, why you should never use it, and what reliable exchanges to choose instead in 2025.
Defunct Crypto Exchange: Why They Fail and How to Avoid Them
A defunct crypto exchange, a cryptocurrency trading platform that has shut down, vanished, or stopped operating without warning. Also known as a failed crypto exchange, it’s not just inactive—it’s gone, often with user funds still locked inside. These aren’t just quiet closures. They’re exits scams, regulatory crackdowns, or outright frauds that leave traders with nothing but a dead website and a broken promise.
What makes a crypto exchange, a platform where users buy, sell, or trade digital assets turn into a ghost? Look at VAEX and YodeSwap. VAEX never even got its Hong Kong license. YodeSwap drained its liquidity and vanished. Both promised low fees and easy trading, but neither had real oversight, transparent teams, or verified users. A unregulated exchange, a platform operating without official financial licensing or compliance is a ticking time bomb. No license means no accountability. No audits mean no trust. And when the team disappears, so does your money.
Some defunct exchanges pretend to be something they’re not. Nivex claimed AI-powered profits. UPTX hid its trading volume. XREATORS didn’t even have a blockchain. These aren’t technical failures—they’re deception. The defunct crypto exchange often starts with hype: airdrops, fake reviews, celebrity shills, or promises of insane returns. But if you can’t find a real team, a live community, or a history of customer support, walk away. You don’t need to be a tech expert to spot this. Just ask: Is this exchange still doing anything? Or is it just a website with a logo and a countdown timer?
The list below dives into real cases—exchanges that vanished, tokens that never existed, and airdrops that led nowhere. You’ll see how VAEX disappeared after filing for a license it never got. How YodeSwap’s entire liquidity pool evaporated. How Nivex’s AI promises were just smoke and mirrors. These aren’t hypotheticals. These are the stories of real people who lost money because they trusted a platform that had no intention of staying around.