CHAOEX Crypto Exchange Review 2025 - Fees, Risks & Legitimacy

When you’re hunting for a platform to trade Bitcoin or any of the dozens of altcoins, the first thing you check is whether the exchange is trustworthy enough to keep your funds safe. CHAOEX review pulls together everything you need to know about the CHAOEX crypto exchange - its fee schedule, asset selection, verification steps, and, most importantly, the red flags that have surfaced over the years.

Platform Overview

CHAOEX is a cryptocurrency exchange launched in 2017, registered in Hong Kong and primarily targeting Southeast Asian traders. The site claims a user‑friendly interface and a flat‑rate fee model, but its public footprint is thin. CoinMarketCap lists the exchange under an “Untracked Listing,” meaning there is no verifiable volume or liquidity data. The exchange’s leadership includes CEO Mark Hojgaard who was reported as the chief executive in the Revain.org profile. Despite the corporate veneer, multiple security‑focused outlets have labeled CHAOEX as an “exit scam,” a serious accusation that warrants careful scrutiny before any deposit.

Asset Offering

The platform advertises 54 digital assets, ranging from the biggest names to niche tokens. The most actively traded pairs historically included Bitcoin, Ethereum, Bitcoin Cash, Decent, TenX, Civic, and QTUM. While this list covers the core market, it pales in comparison to major exchanges that list hundreds of coins and tokens. The limited selection also reduces the chances of finding deep liquidity for smaller altcoins, which can translate into slippage during trades.

Fee Structure

CHAOEX’s most attractive headline figure is a flat 0.10% trading fee for both makers and takers. By contrast, many rivals charge a tiered schedule where makers enjoy a lower rate. The flat fee can be competitive for high‑volume traders, but it is offset by a steep withdrawal charge of 0.005 BTC per Bitcoin withdrawal, which is roughly ten times the industry average. Crypto‑focused reviewers such as Cryptowisser have warned that this fee makes the overall cost of trading on CHAOEX substantially higher than it first appears.

KYC Verification & Withdrawal Limits

CHAOEX implements a three‑tier know‑your‑customer (KYC) system:

1. KYC1: Allows deposits and trading, but withdrawals are blocked.
2. KYC2: Unlocks withdrawals up to 5 BTC per day and reduces the trading fee to 0.075%.
3. KYC3: Raises the daily withdrawal ceiling to 50 BTC and trims the fee further to 0.05%.

While a tiered approach is common, the fact that full withdrawal capability only opens at the highest verification level (KYC3) can be a hurdle for casual users. Moreover, the platform’s high withdrawal fee applies regardless of KYC level, meaning even fully verified accounts still face an outsized cost to move funds off‑exchange.

Security, Legitimacy & Controversies

The most troubling aspect of CHAOEX is its reputation among watchdogs. Cryptogeek has catalogued CHAOEX as an exit scam, alleging that the platform disappeared with user funds. This claim is reinforced by the exchange’s absence from reputable market data aggregators and its “Untracked Listing” status on CoinMarketCap, which signals that the platform does not meet transparency standards for reporting volume or order‑book depth.

Other review sites like Cryptowisser provided a mixed assessment-praising low trading fees but warning heavily about the high withdrawal costs and the overall lack of credibility. Fxstay listed 54 assets and highlighted the platform’s Southeast Asian focus, yet its analysis also noted the scarcity of recent activity and user reviews. The limited number of user ratings - a 2.6/5 score based on just eight reviews on Cryptogeek - suggests either a very small user base or possible manipulation of feedback.

User Experience & Community Feedback

Feedback from the few users who left comments is mixed. A solitary positive note on Affgadgets.com praised the “updated platform and user‑friendly interface,” but this single endorsement stands in stark contrast to the broader negative sentiment across security‑centric sites. The lack of Reddit threads, Trustpilot entries, or detailed complaint logs is atypical for a genuine exchange that has been operating since 2017.

Overall, the pattern points to a platform that either never achieved real market traction or possibly ceased legitimate operations years ago. The combination of untracked volume, high withdrawal fees, and explicit scam accusations creates a high‑risk environment for anyone considering an account.

Side‑by‑Side Comparison

Final Verdict & Recommendations

If you’re weighing whether to open an account on CHAOEX, the balance tips heavily toward “don’t.” The low trading fee is an attractive lure, but the platform’s high withdrawal cost, limited asset pool, and especially the “exit scam” label create a risk profile that dwarfs any potential savings. For traders focused on Southeast Asian markets, legitimate alternatives such as Indodax, Zipmex, or Binance’s regional hub provide transparent volume data, broader coin selections, and established compliance frameworks.

Should you already have funds locked in CHAOEX, consider the following steps:

• Verify your KYC level - only KYC3 permits sizable withdrawals.
• Calculate the exact BTC withdrawal fee; in many cases, the cost may exceed the value of the remaining balance.
• If the platform is still accessible, initiate the smallest possible withdrawal to test the process.
• Document all communications and prepare evidence for potential legal action or a claim with any relevant consumer protection agency.

In short, treat CHAOEX as a high‑risk, low‑trust platform. Prioritize exchanges with transparent reporting, strong community feedback, and a track record of safeguarding user assets.

Frequently Asked Questions