
What is BKEX?
BKEX was once a high-volume crypto exchange launched in 2018 in the British Virgin Islands, offering thousands of coins, leverage and staking. But by mid-2023, it froze withdrawals and as of 2025 appears fully shut down.
Quick snapshot table
- Founded: 2018 (BVI)
- Status: Withdrawals frozen since May 2023
- Services: Spot, derivatives, staking, leveraged tokens
- Claimed assets: 1,200+ coins, 8M users
- Reported volume: ~$1.1B daily in 2020 (likely inflated)
- Trustpilot: ~2.2/5 with many scam flags
- Security: D score, ~24% on CER
- Major event: Hot-wallet loss in 2022, blocked withdrawals after
How BKEX rose and collapsed
At its height, BKEX claimed enormous daily turnover and millions of customers. But watchdogs flagged suspicious volume and wash trades. In 2022 it suffered a hot-wallet loss, then in May 2023 halted withdrawals citing a police probe. Since then, social channels went dark and the site shows no real activity.
Pros and cons in plain view
- Pros: Huge coin range, leverage, staking and no-KYC small accounts back when it ran.
- Cons: Now defunct, frozen funds, low security ratings, widespread scam reports.
User sentiment and trust
Trustpilot sits near 2.2 out of 5, dominated by one-star complaints about locked accounts. Traders Union and CER give it extremely low stability and security scores. No audits, no reserve proofs, and after freezing withdrawals, there’s no reason to consider it safe for any serious funds.
Liquidity and security concerns
Even before closing, BKEX volumes were questioned as inflated. Today there’s zero order book activity. Security was thin: no bug bounties, no published audits. After its hot-wallet breach, it simply shut down user withdrawals.
Final verdict
BKEX went from a flashy high-volume player to a clear cautionary tale. Its story is about fake liquidity, regulatory troubles and sudden collapse. Use it only if trying to chase old deposits. For everyone else, stick with active exchanges that show proof of reserves, pass audits and handle user funds with real safeguards.