CoinwEx Scam Warning: Fake Crypto Exchange, No Withdrawals

Savun Law & Consultancy · Updated 14 November 2026

CoinwEx is a trading platform set up with a name that recalls two well-known crypto exchanges; it accepts user money and leaves withdrawal requests without result. The name was chosen to create a deliberate confusion between "CoinW" and "CoinEx".

In short: CoinwEx is not authorised in Türkiye by the Capital Markets Board (SPK) and has no permission to provide crypto asset services in Türkiye. The inability to withdraw the balance accumulated in the account is the platform's main point of complaint. In cases of this kind, tracing the transfers and pursuing the legal process is possible.

What this article covers

The name confusion and domain traces
Why does the withdrawal not go through?
Platforms following the same model
Outline of the legal process
Frequently asked questions

🔍 The Name Confusion and Domain Traces

The domain coinwex.net was registered on 8 September 2025 through NiceNIC; today its name servers point to "expired" addresses, meaning the site has been suspended. coinwex.com is an empty domain put up for sale. A short-lived address and a quick shutdown are a pattern often seen with fake exchanges.

This article is not about the licensed exchanges CoinW and CoinEx; the similarity of names is a tool CoinwEx uses to gain credibility.

🚩 Why Does the Withdrawal Not Go Through?

In schemes of this kind, the user is first made to trade small amounts and quick profits are shown on the panel.
The withdrawal request is held up on grounds of "review", "risk control" or "account freeze".
An extra deposit or commission payment is demanded to open the account.
After the payment is made, a new obstacle appears and the platform's address is changed.

The provisions added to Capital Markets Law No. 6362 by Law No. 7518 made providing crypto asset services in Türkiye subject to SPK permission.

🔗 Platforms Following the Same Model

Cases of fake exchanges that block withdrawals have been covered separately on our site; the flow at CoinwEx follows the same line.

🧭 Outline of the Legal Process

The roadmap a victim faces is summarised in the article on the process followed by investment victims. In the investigation, seizure and confiscationTR measures for wallets and accounts are considered together with the money laundering dimension of the proceeds of crimeTR.

For detailed information and legal support, you can contact Savun Law & Consultancy.

❓ Frequently Asked Questions

Are CoinwEx and CoinW the same exchange?

No. CoinwEx is a separate scheme whose name recalls CoinW and CoinEx; the findings in this article do not concern those two exchanges.

Why does coinwex.net not open?

The domain's name servers have been pointed to expired addresses; the site has been taken offline.

If the deposit requested for withdrawal is paid, will the money arrive?

In schemes of this kind, a new condition is raised after every payment; the deposit demand is a way of collecting new money.

Can I get back the money I deposited with CoinwEx?

For detailed information and legal support, you can contact Savun Law & Consultancy.

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This page is an English adaptation of our Turkish article CoinwEx Sahte Kripto Borsası Dolandırıcılığı.

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