When you hear Koinex, a now-defunct Indian cryptocurrency exchange that once handled over $100 million in monthly volume. Also known as Koinex.io, it was one of the first platforms in India to let users trade Bitcoin, Ethereum, and dozens of altcoins without KYC — until it vanished overnight. Koinex didn’t fail because of bad tech or slow updates. It collapsed because of regulatory pressure, lack of banking access, and internal mismanagement. In 2019, after RBI’s banking ban crushed crypto-friendly banks, Koinex couldn’t process INR deposits or withdrawals. Users lost access to funds. The team disappeared. No official shutdown notice. No refunds. Just silence.
That moment changed everything. After Koinex fell, India’s crypto scene didn’t die — it adapted. Exchanges like WazirX, CoinSwitch Kuber, and ZebPay stepped in with full KYC, bank integrations, and compliance. They learned from Koinex’s mistakes: no one trusts a platform that can vanish with your money. Today, if you’re in India, you don’t look for unregulated exchanges. You pick one that’s licensed, has clear support, and keeps funds in segregated accounts. Even after the Supreme Court overturned the RBI ban in 2020, trust wasn’t rebuilt overnight. People still remember Koinex.
And it’s not just about India. Koinex’s collapse is a case study in every crypto market: when regulation and banking don’t align, even popular platforms can disappear. That’s why today’s top exchanges focus on legal clarity, not just trading volume. They work with lawyers, audit firms, and banks — not just developers. If you’re looking for a reliable place to trade crypto in 2025, you don’t want a platform that’s popular today but could be gone tomorrow. You want one with a track record, clear rules, and real customer support.
Below, you’ll find real reviews of exchanges that actually work in 2025 — some based in India, others that accept Indian users with stable banking paths. You’ll also see warnings about fake platforms that try to ride the Koinex name. No fluff. No hype. Just what happened, what changed, and where you can safely trade now.
11 November
Koinex was India’s top crypto exchange in 2018 but shut down after the RBI ban. This review explains why it failed, what it got right, and how today’s exchanges learned from its mistakes.
