Crypto Exchange Legitimacy Checker
Is This Exchange Legitimate?
Check if a crypto exchange is real or a scam using key verification criteria from the article.
Verification Results
There’s no such thing as a legitimate crypto exchange called Piyasa. Not now, not ever. If you’ve seen ads for it, heard about it on social media, or got a message promising high returns through “Piyasa Crypto Exchange,” you’re being targeted by a scam.
The word “Piyasa” isn’t a brand name-it’s Turkish for “market.” Scammers use local language terms like this to trick people into thinking the platform is legitimate in their region. In Turkey, where this word is common, fake exchanges often pop up with names like “Piyasa,” “Pazar,” or “Borsa” to look trustworthy. But if it’s not listed on CoinMarketCap, CoinGecko, or any major exchange ranking, it’s not real.
Why Piyasa Doesn’t Exist
Every reputable crypto exchange-Binance, Kraken, Bybit, Coinbase-has a public record. They’re registered with financial authorities. They publish their company details. They show proof of reserves so you know your funds are actually there. Piyasa has none of that.
Check any of the top 10 exchange lists from NFTEvening, Coinspeaker, FXEmpire, or ChainPlay. Search for “Piyasa” in their 2025 reviews. You won’t find it. Not once. That’s not an oversight. It’s a red flag so loud it should be deafening.
Even the most obscure but real exchanges have at least one regulatory license. Binance holds 38. Crypto.com has 47. Kraken got a full banking charter in Wyoming. Piyasa? No registration. No legal entity. No address. No contact info. Just a website with flashy graphics and fake testimonials.
How Scammers Use Names Like Piyasa
Scammers don’t just pick random names. They study where people are looking for crypto services. Turkey has a large crypto-using population, but strict rules against unlicensed platforms. So scammers create fake exchanges with Turkish-sounding names to trick locals into thinking they’re safe.
Here’s how it works:
- You land on a site called “Piyasa Crypto Exchange.”
- You see “Trusted by 50,000+ Users” and fake 5-star reviews.
- You’re told you can earn 187% APY on your crypto-impossible on any real exchange.
- You deposit your Bitcoin or Ethereum.
- Then, the site disappears. Or you can’t withdraw. Or they demand more fees to “unlock” your funds.
This pattern shows up again and again in Reddit’s r/CryptoScams. In Q3 2025 alone, 217 reports matched this exact setup. Every single one used a localized name. Every single one vanished within six months.
What Real Exchanges Look Like
If you’re looking for a real crypto exchange, here’s what to check:
- Regulation: Does it list its legal entity? Binance is “Binance Markets Limited,” registered in Malta (C 70027). Crypto.com is “Crypto.com Pte. Ltd.” in Singapore (UEN 201830517W). Piyasa? Nothing.
- Proof of Reserves: Real exchanges show real-time audits. You can see on Blockchain Transparency Institute’s dashboard that Binance holds more than 100% of user funds. Piyasa? No dashboard. No proof.
- Trading Volume: Legit platforms have millions in daily volume. Kaiko and CoinMarketCap track this. Piyasa has zero recorded volume. Zero.
- User Reviews: Binance has over 18,000 reviews on Trustpilot with a 4.1 rating. Piyasa has zero authentic reviews. The few “reviews” you find are copied, generic, and posted within hours of each other.
Any exchange that doesn’t meet these four criteria is dangerous. Piyasa fails all of them.
The Bigger Picture: Why Scams Like This Are Rising
According to Chainalysis’ 2025 Crypto Scam Observatory, 72% of fake exchanges shut down within 18 months. 89% manipulate trading data to lure people in. And 63% of non-English named platforms turn out to be scams-especially those targeting Turkish, Russian, or Spanish-speaking users.
The Turkish government banned unlicensed crypto exchanges in October 2025. That didn’t stop scammers. It just made them smarter. Now they use Turkish names to appear local, even though they’re hosted on servers in Eastern Europe or Southeast Asia.
Meanwhile, global regulators are catching up. The Financial Action Task Force now requires exchanges to verify their names and locations. CoinGecko updated its listing rules in November 2025: any exchange must show $500,000 in verified reserves and 90 days of real trading volume to even be considered.
Piyasa doesn’t meet any of these standards. That’s not an accident. It’s proof.
What to Do If You’ve Already Used Piyasa
If you sent crypto to Piyasa:
- Stop sending more money. No matter what they say-“just one more fee to unlock,” “your funds are frozen,” “we need your ID”-it’s a lie.
- Document everything: screenshots, emails, transaction IDs. Even if you can’t recover funds, this helps authorities track the scam.
- Report it. Use the Cryptolegal.uk scam registry. File a report with your local financial regulator. Even if they can’t help you, they can warn others.
- Check your wallet. If you used a hot wallet connected to Piyasa, move any remaining funds to a hardware wallet like Ledger or Trezor immediately.
Recovery is unlikely, but reporting helps prevent others from falling for the same trap.
Safe Alternatives to Piyasa
Stick with exchanges that are listed, regulated, and transparent:
- Binance: Largest by volume. Licenses in 38 countries. Transparent reserves.
- Kraken: First U.S. exchange with a banking charter. Strong security and compliance.
- Bybit: Popular for derivatives. Licensed in France and UAE.
- Coinbase: Fully regulated in the U.S., EU, and UK. Easy for beginners.
All of these have real customer support, real legal teams, and real track records. None of them promise 200% returns.
Final Warning
If it sounds too good to be true, it is. If you can’t find it on CoinMarketCap, it’s not real. If the name sounds like a common word in your language, it’s probably a scam.
Piyasa isn’t a crypto exchange. It’s a digital trap. And it’s not alone. There are hundreds like it-changing names, shifting domains, targeting new regions every month.
Don’t be the next victim. Use only exchanges with a public record. Ask questions. Demand transparency. And if you’re unsure? Don’t deposit a cent.
Is Piyasa Crypto Exchange real?
No, Piyasa Crypto Exchange is not real. It does not appear on any major exchange rankings, has no regulatory licenses, and shows no proof of reserves. The name “Piyasa” is Turkish for “market,” a tactic scammers use to appear local. It is either a scam or a non-existent platform.
Why can’t I find Piyasa on CoinMarketCap or CoinGecko?
Because it doesn’t meet their listing requirements. Both platforms now require verified trading volume, proof of reserves, and regulatory compliance. Piyasa has none of these. Legitimate exchanges are listed. Scams are not.
What should I do if I deposited crypto into Piyasa?
Stop sending more money. Document all transactions and communications. Report the platform to Cryptolegal.uk and your local financial regulator. Move any remaining funds to a hardware wallet. Recovery is unlikely, but reporting helps prevent others from being scammed.
Are there any legitimate crypto exchanges with Turkish names?
No. Legitimate exchanges use clear, registered business names-not common words like “Piyasa” or “Borsa.” Even exchanges serving Turkish users, like Bitci or Paribu, have official legal registrations and are listed on CoinMarketCap. If it uses a generic word as its brand, it’s a red flag.
How can I spot a fake crypto exchange?
Check these five things: 1) Is it listed on CoinMarketCap or CoinGecko? 2) Does it show proof of reserves? 3) Does it have a legal entity and registration number? 4) Are user reviews authentic and numerous? 5) Does it promise guaranteed high returns? If any answer is “no,” walk away.
John Borwick
November 22, 2025 AT 23:09Just saw a friend get burned by something called Piyasa last week. He thought it was a local Turkish exchange because of the name. Dude lost 5 BTC. No one can help him. Don't be that guy.
Linda English
November 24, 2025 AT 00:34I really appreciate how thorough this breakdown is. It's not just about warning people-it's about giving them the tools to protect themselves. The part about checking for regulatory licenses and proof of reserves? That’s gold. So many people don’t even know those things exist, let alone how to look for them. I’ve shared this with my crypto study group, and we’re all going to use this as a checklist from now on. Thank you for taking the time to write this.
asher malik
November 25, 2025 AT 15:23kinda wild how scammers just repurpose common words right? like pazar borsa piyasa… it’s not even clever, it’s lazy. but it works. people want to trust something that sounds familiar. and that’s the real vulnerability here. not ignorance. just… humanity. we’re wired to feel safe with the familiar. even if it’s fake. weird how that plays out in finance huh
Tyler Boyle
November 26, 2025 AT 06:58Let me break this down for you because clearly nobody else has. CoinMarketCap doesn't list Piyasa because it's not a real entity. That's not a coincidence. That's a requirement. Every legitimate exchange has to submit KYC docs, proof of reserves, and a legal registration number. Piyasa has none. Zero. Zip. Nada. And the fact that it uses Turkish terminology is textbook localization fraud. Chainalysis data shows 63% of non-English named platforms are scams. That's not a rumor. That's a statistic. And if you think you're smart enough to outsmart them, you're already in the victim pool. The only safe exchange is one you can verify on CoinGecko with a public company registration. Everything else is gambling with your life savings. And no, 'I just got lucky once' doesn't count as a strategy.
Jane A
November 28, 2025 AT 01:16Ugh I can't believe people still fall for this. It's 2025. You don't just deposit crypto into some random site with a flashy logo and a Turkish word. That's not investing, that's handing cash to a stranger on the street and hoping they don't run off. Grow up. If you didn't know this was a scam, you shouldn't be touching crypto at all.
Lisa Hubbard
November 29, 2025 AT 15:36It’s kind of sad, really. Like, people spend hours researching which phone to buy, but when it comes to their entire life savings? They just click a link because it says ‘trusted by 50,000+ users.’ No verification. No due diligence. Just… hope. And then they’re surprised when it vanishes. I mean, I get it. Crypto’s confusing. But this? This isn’t confusing. This is obvious. And yet… here we are.
Belle Bormann
December 1, 2025 AT 05:22just a heads up-dont forget to check if the website has an https and a valid ssl cert. lots of these scam sites use fake https or expired certs. i saw one last week with a cert from 2019. lol. also, if the contact email is gmail or yahoo, run. real companies use their own domain. just saying
Jenny Charland
December 1, 2025 AT 22:08OMG I KNEW IT!! I told my cousin not to use Piyasa and she laughed at me!! Now she’s crying in DMs saying she lost $12k 😭😭😭 I’m so mad for her but also like… why?? Why do people ignore the red flags?? I literally sent her a screenshot of this exact post and she still did it!! #ScamVictim #CryptoWoes
preet kaur
December 2, 2025 AT 23:38I’m from India, and we’ve had the same problem with fake exchanges using words like ‘Bazaar’ or ‘Dukaan’. It’s the same playbook. Scammers are global, but they dress local. I’ve started a small group in my community to teach older folks how to spot these. Simple stuff: check CoinGecko, look for legal info, don’t trust promises. Small steps, but it helps. Thanks for the clear breakdown.
Emily Michaelson
December 3, 2025 AT 17:34One thing people forget: even if a site looks professional, if it doesn’t have a verifiable legal entity, it’s not safe. I used to think flashy design = legitimacy. Big mistake. Real exchanges don’t need to look like Apple to be trustworthy. They just need to be transparent. Piyasa fails that basic test. No name, no address, no license. That’s not a startup. That’s a shell game.
Anne Jackson
December 5, 2025 AT 14:05Americans think they’re immune to this because they’re ‘smart’. Newsflash: scammers target YOU too. You think your dollar is safe? Piyasa doesn’t care where you’re from. It cares that you have crypto. And if you’re dumb enough to trust a name that sounds like ‘market’ in another language? You deserve to lose it. This isn’t a warning. It’s a public service announcement for the people who still think ‘it won’t happen to me’.
David Hardy
December 6, 2025 AT 12:29bro this is why i only use coinbase and kraken. no hype, no promises, no turkish-sounding names. just cold hard facts and real security. if you’re still using some sketchy exchange, just stop. go buy a book. learn something. your wallet will thank you 🚀
Matthew Prickett
December 8, 2025 AT 09:31Okay but what if Piyasa is a government operation? What if the whole thing is a psyop to track crypto users? I’ve seen patterns. All these ‘scam’ sites disappear right before a new regulation drops. CoinGecko updates their rules, boom-Piyasa vanishes. CoinMarketCap bans it, and suddenly the Feds start investigating ‘unlicensed platforms’. Coincidence? I think not. This isn’t a scam. It’s a honey pot. They’re letting people deposit so they can map the entire crypto network. You think you’re being scammed? You’re being monitored. And if you report it? You’re just feeding the algorithm.