N.exchange holds 6,000 USDT for 4 years after sending them to Binance in 17 min

[Slavinn]

Introduction

I am posting this scam accusation against N.exchange to warn other users. My funds (6,000 USDT) have been frozen since December 16, 2022. I have completed KYC and provided all the information I could, but N.exchange continues to hold my money without a valid legal basis.

Timeline of events

    September – November 2022: I made several exchanges through Exodus to N.exchange (518.55 USDT, 250 USDT, 550 USDT). All transactions went through without any issues.

    December 16, 2022, 4:08 PM: I sent 6,000 USDT to N.exchange deposit address: 0xE291cc3e5b9e0C9b37c9FBDd549aBf3B5c0ad342.

    December 16, 2022, 4:25 PM (17 minutes later): N.exchange transferred 59,000 USDT to Binance. In total that day, they sent 186,000 USDT to Binance across several transactions, which included my funds. The Binance transactions were sent to address: 0x1bb9192107345e2c449b7605f1342f020786afe6.

    2022–2026: After the freeze, I was afraid that my coins might have "dirty" origin, even though all funds came from public exchangers. I found information online that I was not the only one affected by this exchanger. I temporarily did not contact them.

    July 2026: I contacted them. They requested KYC, which I completed, and I provided a wallet video. After this, they started requesting documents to verify the source of funds: exchange IDs, receipts, emails. Everything was stored on my old email, which I lost access to over 4 years. It cannot be recovered. All exchanges I made before the freeze were tied to this email — through it, I could see exchange IDs and confirmations. But without access to the email, I cannot provide anything. I admit that I lost access, but this is not a reason to gift my funds to an exchanger that simply sent them to Binance and could do whatever they wanted with them.

    July 2026: N.exchange confirmed in writing that no external criminal case or law enforcement instruction exists, and that the freeze is based solely on their internal review. When I asked what will happen next with my funds, they gave no answer. They offer no alternative solutions, do not explain the procedure, and simply repeat the same request over and over.

About the company

    N.exchange is registered in London but does not hold an FCA license.

    Their website lists an address in Costa Rica: Plaza Florencia, Local 10, 10203, San José, Costa Rica.

    The company uses different jurisdictions, making it unclear what their real regulatory status is.

    They position themselves as an exchange intermediary, but they act like a strange service that holds funds indefinitely without explanation.

Evidence

    Order ID: ORPY5T

    My deposit TXID: 0x9498df41f271483f00ce50c97420125fc7a36b85cd16080bf008950841683f92

    N.exchange address: 0xE291cc3e5b9e0C9b37c9FBDd549aBf3B5c0ad342

    Binance receiving address: 0x1bb9192107345e2c449b7605f1342f020786afe6

    My Exodus address: 0xadaf7f63be47608723431dda6c718d2b3aca62f1

Actions taken

    I have filed complaints with the FCA (Case Ref: 212422640) and the Financial Ombudsman Service (FOS Case Ref: PNX-6076443-N8K9).

What I want

I demand the immediate return of my 6,000 USDT to my Exodus address: 0xadaf7f63be47608723431dda6c718d2b3aca62f1.

I understand that I am at fault for losing access to my email, and I cannot provide the documents they are requesting. But I cannot think of an alternative solution — they offer no other options, do not explain what will happen to my money next, and give no guarantees. If they cannot complete the review, they should return the funds. If they believe there are grounds to hold them, they should provide an external case number. But endless holding without resolution is just a way to keep my money for themselves.

[Rikafip]

N.Exchange already has a shitty reputation on this forum, as several members before you got screwed in a similar way (Exodus users whose crypto was held up by N.Exchange).

It sucks that you had to pay $6k for a lesson not to use Exodus (at least I hope you did). They rely on a dodgy exchange that regularly freezes users funds for whatever bullshit reason they come up with.

[logfiles]

The service is notorious for holding users funds and if you just do a simple forum search you will see quite a number of accusations about them. Even bestchange to usually takes so long to delist search service eventually gave up and delisted them. This means there reputation is just so bad

My question though is, why did you take so long to have your issue worked out? Now they are going to look for every other issue to hold onto those funds.

[Slavinn]

The service is notorious for holding users funds and if you just do a simple forum search you will see quite a number of accusations about them. Even bestchange to usually takes so long to delist search service eventually gave up and delisted them. This means there reputation is just so bad

My question though is, why did you take so long to have your issue worked out? Now they are going to look for every other issue to hold onto those funds.

    After the freeze, I was genuinely afraid. I didn't know much about blockchain tracing at the time, and when they mentioned AML checks, I panicked. I thought my coins might really be "dirty," even though all my funds came from public exchangers.

    I found information online that others had similar problems with N.exchange. That made me even more hesitant — I thought there was nothing I could do.

    I also lost access to my old email, where all my exchange records were stored. Without that, I felt I had no proof of anything.

Looking back, I should have acted sooner. But I didn't know then what I know now — that N.exchange sends funds to Binance within minutes, that they have no external case, and that they just keep repeating the same requests without any real resolution.

I came forward as soon as I understood the full picture. Better late than never.

[rat03gopoh]

Afaik, they haven't even had a license in the first place. I don't know why Exodus chose to integrate with that fraudulent exchanger. I'm sorry to say, you have little chance of recovery even if you report it to multiple authorities. I think taking 3+ years to speak up is a bad decision.

The party you need to put pressure on is Exodus. I'm not sure they don't know the real team information for that exchanger, as they've been partners for quite some time, and some of the victims of the suspension cases are Exodus users.

[Nathrixxx]

I am posting this scam accusation against N.exchange to warn other users. My funds (6,000 USDT) have been frozen since December 16, 2022. I have completed KYC and provided all the information I could, but N.exchange continues to hold my money without a valid legal basis.

A lesson to be learned is that don't use a platform that is not well reputed or recognized by many crypto community users, some platforms do have more reasons to why they are denying us withdrawal of our assets because we violated their rules of which we may not be aware of some of them, that you passed the KYC and stage does not mean everything is still in place to make you enjoy every offer of their services, but I hope that there should be clear reason to why such is being denied by their team and be well communicated as expected.