Crypto Exchange Checker
Analysis Result
TL;DR
- THDax launched in 2020 in Kuala Lumpur and claims AI‑powered spot trading.
- CoinMarketCap lists it as an “Untracked” exchange - no verifiable volume.
- Multiple user reviews (notably Revain) label THDax a major scam.
- Security details are missing: no insurance, cold‑storage info, or regulator oversight.
- Stick with regulated platforms like NDAX for a safer trading experience.
THDax review aims to separate hype from reality so you can decide whether to keep your crypto safe or walk away.
What THDax Says It Is
When you first land on the site, THDax is a centralized cryptocurrency exchange launched in January 2020. It markets itself as a fast, AI‑driven spot trading platform with mobile apps for iOS and Android. The headline claim is “2million transactions per second,” a figure that sounds impressive but lacks any technical whitepaper or third‑party audit.
The platform’s UI mimics reputable exchanges: real‑time price tickers, order‑book depth, and a charting area. Yet users repeatedly report slow page loads and occasional crashes, which contradict the “instant” narrative.
Where THDax Operates
The corporate address points to Kuala Lumpur, Malaysia. While Malaysia is not a banned jurisdiction for crypto services, its regulatory framework is still evolving. The exchange provides no licensing numbers, no AML/KYC policy documents, and the “About Us” page vanished in early 2021, a red flag for any serious platform.
The “AI” Angle - Fact or Fancy?
THDax boasts an “AI‑powered trading engine” that supposedly optimizes order execution. In reality, there is no disclosed algorithm, no research paper, and no independent verification. The term “AI” is often used as marketing fluff in the crypto world; without code audits or performance benchmarks, it remains an unsubstantiated claim.
What the Data Says
On CoinMarketCap, THDax appears under the “Untracked Listing” category. That status means the site cannot verify trading volume, order book depth, or reserve balances. In contrast, legitimate exchanges show daily volume, liquidity ratios, and market share.
Without transparent data, you can’t gauge whether the exchange is handling real orders or merely simulating them.
Community Verdict - The Scam Warning
One of the most detailed public warnings comes from Revain. On May202021 the site published a review labeling THDax a “major scam exchange in which you can lose your funds.” The reviewer pointed out several red flags:
- Removal of the “About Us” page.
- No measurable trading volume.
- Reports that the founders disappeared with users’ deposits.
Since that review, no credible success stories have surfaced. Forum threads across Reddit, BitcoinTalk, and local crypto groups echo the same warnings.
Security Gaps You Won’t Find in a Legit Exchange
Reputable platforms publish details about cold‑storage percentages, multi‑signature wallets, and insurance coverage. THDax offers none of these. There’s no mention of a cold‑wallet reserve, no third‑party audit, and no insurance policy to protect user funds.
Compared to a Canadian exchange like NDAX, which operates under CIRO regulation, provides $5million insurance for cold wallets, and publishes transparent fee schedules, THDax looks starkly under‑protected.
Side‑by‑Side Comparison
| Feature | THDax | NDAX |
|---|---|---|
| Year launched | 2020 | 2014 |
| Headquarters | Kuala Lumpur, Malaysia | Toronto, Canada |
| Regulatory oversight | None disclosed | CIRO‑regulated |
| Trading volume transparency | Untracked (CoinMarketCap) | Verified daily volume |
| Security features | No public cold‑storage or insurance info | Cold‑wallets + $5M insurance |
| AI claim | Unverified AI engine | Standard matching engine |
| User sentiment (as of Oct2025) | Widely flagged as scam | Positive, regulated |
Real‑World Impact - What Users Have Lost
Because THDax never published a transparent audit, exact loss figures are hard to pin down. However, anecdotal reports on crypto forums suggest that dozens of users collectively lost upwards of $250000 in BTC, ETH, and stablecoins. Many users describe the withdrawal process as “stuck” - requests are either denied or never receive a response.
If you’ve already deposited funds, the safest bet is to stop further deposits and request a withdrawal immediately. Be prepared for silence; the platform’s support channels have a history of disappearing.
How to Spot a Scam Exchange (Quick Checklist)
- Check if the exchange appears on a reputable data aggregator (CoinMarketCap, CoinGecko) with verified volume.
- Search for licensing information or regulator IDs.
- Look for an audit report or third‑party security assessment.
- Read community reviews on platforms like Revain, Trustpilot, or Reddit.
- Verify that the “About Us” page lists real people, addresses, and contact methods.
If any of these points raise doubts, treat the platform as high risk.
Safer Alternatives for Cryptocurrency Trading
When it comes to protecting your crypto, regulated exchanges are the low‑risk choice. Apart from NDAX, other well‑known options include Coinbase (US‑regulated), Kraken (global compliance), and Binance (licensed in several jurisdictions). These platforms publish:
- Clear fee structures.
- Real‑time trading volume.
- Security certifications (ISO, SOC 2).
- Customer support with verified response times.
Choosing a platform that checks these boxes dramatically reduces the chance of waking up to an empty wallet.
Final Takeaway
THDax markets itself as a futuristic AI‑driven exchange, but the lack of transparent data, regulatory oversight, and credible security measures tells a different story. The consensus across multiple review sites and user forums is clear: treat THDax as a scam and move your assets to a regulated, audited exchange.
Frequently Asked Questions
Is THDax still operating in 2025?
The public interface still loads, but the exchange is listed as “Untracked” on CoinMarketCap and has no verifiable volume. Most users consider it effectively non‑functional for legitimate trading.
Can I retrieve funds I deposited on THDax?
Withdrawal requests are often ignored. If you still have access to the account, file a withdrawal immediately, but be prepared for no response. Legal recourse is limited given the lack of regulation.
What does the “AI‑powered” claim actually mean?
THDax has not published any technical documentation, code audits, or performance metrics for its AI engine. The claim appears to be marketing hype rather than a verifiable feature.
How does NDAX differ from THDax?
NDAX operates under CIRO regulation in Canada, offers insurance for cold wallets, publishes transparent trading volumes, and undergoes regular security audits. THDax lacks any of these safeguards.
Where can I find reliable crypto exchange reviews?
Websites like CoinMarketCap, CoinGecko, Trustpilot, and independent crypto blogs provide aggregated data and user feedback. Look for exchanges that have third‑party audit reports and clear regulator IDs.
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