THDax Crypto Exchange Review: Is It a Scam or Legit in 2025?

If you're thinking about using THDax to trade cryptocurrencies, stop. Right now. This isn't a recommendation. This is a warning.

THDax looks like a real crypto exchange. It has a website. It has mobile apps for iOS and Android. It claims to use AI to speed up trades and handle two million transactions per second. Sounds impressive, right? But appearances are deceiving. Behind the polished interface is a platform that experts, users, and industry watchdogs have labeled a scam. And if you deposit money there, you won't get it back.

What THDax Claims vs. What It Actually Does

THDax says it's a centralized crypto exchange launched in January 2020, based in Kuala Lumpur, Malaysia. It markets itself as a fast, AI-powered trading platform. But when you dig deeper, none of those claims hold up.

First, there's no proof of that AI. No technical documentation. No whitepaper. No engineers named. Just buzzwords. Then there's the claim of two million transactions per second. That's more than Binance or Coinbase can handle. No independent source has ever verified it. And CoinMarketCap, the industry's go-to data source, lists THDax as Untracked. That means no trading volume, no liquidity, no real activity. If no one's trading on it, how can it be a real exchange?

Even worse, the 'About Us' page disappeared from their website. Legitimate exchanges don't delete information about their team, history, or legal structure. They make it easy to find. THDax made it impossible. That's a classic red flag - the kind you see right before a platform vanishes with users' money.

Why Experts Call THDax a Major Scam

Revain.org, a trusted crypto review platform, published a detailed warning in May 2021 calling THDax a major scam exchange in which you can lose your funds. They found zero positive aspects. No security features. No customer support logs. No verifiable trading history. Just empty promises.

The review pointed out something even more alarming: reports that the founders had run off with traders' funds. That's not speculation - it's a pattern. Exit scams like this are common in unregulated crypto spaces. A platform looks legitimate for months, lures in deposits, then shuts down overnight. No warnings. No refunds. Just silence.

Since that review, nothing has changed. No regulatory filings. No audits. No new team members. No transparency. CoinMarketCap still shows THDax as untracked. No one is trading there. The platform is a ghost.

How THDax Compares to Real Exchanges

Compare THDax to NDAX, a regulated Canadian exchange. NDAX is licensed by CIRO, the Canadian investment regulator. It holds $5 million in cold wallet insurance. It publishes monthly reserve audits. Its fees are clear. Its team is public. Its support responds within hours.

THDax has none of that. No license. No insurance. No audits. No team names. No contact info that works. The only thing it has in common with real exchanges is the logo and the trading interface - both of which can be copied in a weekend by anyone with basic web skills.

Legitimate exchanges compete on security, speed, and customer trust. THDax competes on deception. It uses flashy design to hide the fact that it's not doing anything real.

Security Risks: No Cold Storage, No Protection

When you deposit crypto on a real exchange, your coins are stored in cold wallets - offline, encrypted, and protected by multi-signature keys. Reputable exchanges also carry insurance in case of hacks.

THDax says nothing about how they store funds. No mention of cold storage. No insurance policy. No multi-sig setup. That means if their servers get hacked - and they likely aren't even properly secured - your Bitcoin, Ethereum, or Solana could vanish instantly. And you'd have no recourse.

Malaysia, where THDax claims to be based, doesn't have strong crypto regulations. That’s not a problem by itself - many good exchanges operate in less-regulated countries. But when combined with zero transparency, no audits, and a deleted 'About Us' page, it becomes a recipe for disaster.

User Feedback: Zero Positive Reviews

Search for THDax on Reddit, Twitter, or crypto forums. You won't find anyone saying, 'I made money with THDax.' You'll find warnings. You'll find people asking, 'Is this still active?' You'll find comments like, 'Don't even open an account.'

There are no success stories. No testimonials from real traders. No verified user reviews on Trustpilot or SiteJabber. That's not normal. Even new, small exchanges get some real feedback. THDax has none. That’s because there are no real users - only people who deposited and lost everything.

Is THDax Still Operating?

As of October 2025, the THDax website still loads. The interface still works. But that doesn't mean it's safe. Scam exchanges often keep their sites up for years after the founders disappear - just to confuse people into thinking they're still real.

If you try to withdraw funds now, you'll likely get stuck. No response from support. No processing time. Just a spinning wheel or an error message. That's the endgame of an exit scam: make deposits easy, withdrawals impossible.

There's no evidence THDax has ever processed a real withdrawal. No blockchain records show coins moving out to verified wallets. Only deposits - and lots of them.

What to Do Instead

If you want to trade crypto safely, use platforms that are regulated, audited, and transparent. Here are a few trusted alternatives:

• NDAX - Canadian-regulated, $5M insurance, public team
• Kraken - U.S.-based, strong security, transparent fees
• Binance - Global leader, high liquidity, clear audit reports
• Bybit - Reliable derivatives and spot trading, strong track record

All of these exchanges have public team members, regulatory licenses, and verifiable trading volumes. You can check their reserves. You can contact support. You can trust them with your money.

THDax has none of that. And trusting it is like handing your wallet to a stranger on the street and saying, 'Keep it safe for me.'

Final Verdict: Avoid THDax at All Costs

THDax is not a crypto exchange. It's a trap. It's designed to look real so you'll deposit your funds. Then it disappears. There's no recovery. No legal recourse. No refund.

If you've already deposited money on THDax, you're likely out of luck. But if you're thinking about it - don't. Walk away. Delete the app. Block the website. Your crypto is safer in a hardware wallet than on THDax.

The crypto space is full of scams. THDax is one of the most obvious. Don't be the next victim.