When you hear a crypto exchange says it’s fully transparent, you might think: finally, someone’s telling the truth. But when users are losing thousands of dollars and getting zero replies for weeks, transparency starts to look like a marketing lie. That’s the story of n.exchange.
n.exchange launched in 2016, registered in England & Wales, and pitched itself as a crypto swap platform built by traders, for traders. Its big selling point? Everything was open. The front-end code? 100% open source. The order books? Publicly visible via API. The coin reserves? Real-time, verifiable. It sounded like a breath of fresh air in a world full of black-box exchanges.
Back in 2019, Cryptowisser’s review painted it as a niche player with real potential. Compared to ShapeShift and Changelly, n.exchange offered better rates if you were selling crypto. If you were buying? ShapeShift was cheaper. The platform wasn’t trying to be Binance or Coinbase. It didn’t have hundreds of coins or low fees. It was trying to be different - honest, visible, accountable.
But here’s the problem: transparency doesn’t mean anything if your customer support vanishes when things go wrong.
What n.exchange Actually Did
n.exchange wasn’t a full trading platform. You couldn’t place limit orders, set stop-losses, or use margin. It was a swap service. You sent crypto from your wallet - usually Exodus - and got another coin back. Simple. Fast. That’s what they promised.
But behind that simplicity was a hidden wall: KYC. If your transaction looked "suspicious," they froze it. No warning. No explanation. Just silence.
One user, Sheel Shah, sent 1 BTC to swap for ETH. His wallet flagged it. n.exchange demanded proof: passport, utility bill, bank statement. He sent all of it. Two weeks passed. Christmas. New Year’s. No reply. Just automated copy-paste messages. He says he was too scared to leave his house. Shame. Depression. No one answered. His BTC? Still stuck.
Another user, Romeo, lost $5,000. No communication. No refund. Only after contacting a recovery service did they get their money back. That’s not a glitch. That’s a pattern.
The Transparency Trap
n.exchange bragged about its open-source front-end. That’s cool - if you’re a developer. But most users don’t care about GitHub repositories. They care about getting their money back.
Here’s the irony: if the platform was truly transparent, why did users have to dig through Reddit, Reviews.io, and scam forums just to find out what was going on? Why wasn’t there a public status page? Why didn’t they update users during delays? Why did support responses feel like they were written by bots?
Transparency isn’t just showing your code. It’s showing your actions. And n.exchange’s actions? They were hiding.
How It Compared to Other Exchanges
Let’s put this in perspective. In 2025, Coinbase supports 235 coins with clear fee structures. Kraken offers 350+ with fees as low as 0.03%. Gemini has a 4.3/5 rating on NerdWallet. These platforms have customer service teams, public outage logs, and verified support channels.
n.exchange? It doesn’t appear on any of those lists anymore. Not on Koinly’s "Best Crypto Exchanges USA 2025." Not on NerdWallet’s rankings. Not even on YouTube’s "Top Crypto Platforms 2025" video. It’s gone from the conversation.
Even ShapeShift and Changelly - the ones n.exchange used to compare itself to - have better support. They send emails. They give timelines. They admit when things go wrong.
n.exchange? Silence.
The Red Flags
Here’s what you should’ve seen before using n.exchange:
- No clear customer service hours - If you’re stuck with $5,000 in crypto, you need help now, not in 3 business days.
- No public response to complaints - No official blog posts, no Twitter replies, no YouTube comments addressed.
- No recent updates since 2019 - The last real review was five years ago. No new coins. No new features. No new team members.
- Verified user reports of fund freezes - Not one or two. Multiple users, same story: send crypto, get flagged, get ghosted.
- Disappeared from comparison sites - If a platform is still alive and trustworthy, it shows up on trusted lists. n.exchange doesn’t.
These aren’t minor issues. They’re signs of a platform that stopped caring.
Is n.exchange Still Operating?
As of February 2026, the answer is almost certainly no.
The website still loads. The domain is active. But the service? Dead. No one responds to emails. No one answers live chat. No one updates the platform. The API might still be live - but who cares if no one can trade on it?
Users who tried to reach out in late 2023 and early 2024 got no replies. That was over a year ago. If a company can’t fix its support for 12+ months, it’s not a company anymore. It’s a ghost.
And here’s the worst part: those user stories aren’t outliers. They’re the norm. One person’s $5,000 loss isn’t a mistake. It’s a system failure.
What You Should Do Instead
If you need to swap crypto, don’t gamble with a ghost. Use platforms that actually answer when you ask for help.
- For beginners: Coinbase or Crypto.com. Simple, regulated, responsive.
- For low fees: Kraken or Binance US. Transparent pricing, 24/7 support.
- For privacy: Bisq or LocalBitcoins. Decentralized, no KYC required.
None of these platforms have perfect records. But they all have something n.exchange lost: accountability.
Final Verdict
n.exchange didn’t fail because it was too small. It failed because it lied.
It promised transparency. It delivered silence.
It claimed to be open-source. It hid behind automated replies.
It said it was built for the community. Then it abandoned its users.
If you’re reading this because you lost money on n.exchange - you’re not alone. But you’re also not stuck. Document everything. Contact your local financial regulator. Reach out to recovery services. Don’t let them win by staying quiet.
And if you’re thinking of using it? Walk away. There are better options. Safer ones. Ones that actually care.
Is n.exchange still operational in 2026?
No, n.exchange is effectively non-operational as of 2026. While the website may still load, customer support has been silent since at least late 2023. Users report months of unanswered emails, zero updates to the platform, and no public communication. The lack of presence on major exchange comparison sites like NerdWallet and Koinly confirms its disappearance from the market.
Can I get my money back if I lost funds on n.exchange?
It’s possible, but extremely difficult. At least two users reported recovering their funds only after contacting specialized recovery services like RECOVERINGCOIN•COM. These services charge fees and have no guarantee of success. There is no official refund process from n.exchange. If you’re affected, document every transaction, save all communication, and report the incident to your country’s financial regulator.
Why did n.exchange ask for so much personal info?
n.exchange required full KYC (Know Your Customer) documents - passport, utility bill, proof of funds - when a transaction was flagged as "suspicious." This is standard practice for regulated exchanges, but n.exchange never explained why a transaction was flagged or how long verification would take. Unlike legitimate platforms, they provided no timeline, no status updates, and no way to appeal. This turned a routine process into a black hole.
Was n.exchange ever regulated?
n.exchange was registered in England & Wales under company number 10009845, but there is no public record of it holding any financial services license from the UK Financial Conduct Authority (FCA) or any other regulator. Registration as a company does not equal regulatory approval to operate as a crypto exchange. Without proper licensing, users had no legal protection if funds were lost or frozen.
Are there any legitimate alternatives to n.exchange for swapping crypto?
Yes. For simple swaps, use Coinbase, Crypto.com, or Kraken - all have clear fee structures, responsive support, and public status pages. For non-KYC swaps, try Bisq or LocalBitcoins. These platforms have track records of handling disputes, updating users, and maintaining service. Unlike n.exchange, they don’t disappear when things go wrong.
Why did n.exchange disappear from comparison sites?
Reputable comparison sites like NerdWallet, Koinly, and YouTube reviewers stopped listing n.exchange because it no longer met basic criteria for trustworthiness: responsive support, active development, and user safety. Platforms that disappear from these lists usually do so because they’ve failed users repeatedly. n.exchange’s absence since 2023-2024 is a clear signal it’s no longer a viable option.