# Is Pionex safe? Check before you connect | TradingAgentStack

> Pionex: worst case for your money, official links, freeze and key risks, incidents and a 3-step safe setup. Sourced, checked 2026-10-25.

Canonical: https://tradingagentstack.com/check/pionex/

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# Is Pionex safe to connect?

Exchange · Multi-asset centralized exchange with built-in trading bots (spot, perpetual futures). Checked 2026-10-25; every line links its source.

**Worst case:** Pionex holds your coins, so an exchange hack or insolvency, or an account restriction after a 'risk-control' review, could lock your balance and your running bots for an unknown time. The '100% reserve' claim is Pionex's own, and you would depend on Pionex's compensation decisions.

Already lost funds? [What to do if a bot or wallet is drained](https://tradingagentstack.com/trading-bot-drained-what-to-do/).

## Safe setup in 3 steps

1. Type pionex.com yourself or use a bookmark; treat any Telegram or X DM, 'support' contact or giveaway as a scam, and join only the group linked from the site (t.me/pionexen)

2. Create API keys under Account Settings, API Management, bind each key to your bot's IP as the docs recommend, and enable only the permissions the bot needs

3. Keep only trading capital on Pionex and check your balance against its Merkle tree page; hold savings in your own wallet

## What it can do with your money

| Who holds the keys | The exchange holds your funds Custodial exchange. Pionex says it keeps '100% reserve' and uses a Merkle tree plus an independent audit to show it; these are Pionex's own claims, and we did not find the audit report itself. [source](https://intercom.help/pionex/en/articles/14607875-what-is-merkle-tree) |
| --- | --- |
| Can funds be sent out to any address? | Yes. Pionex says 'users can withdraw their coins at any time', and its help center has withdrawal guides for web and app. Trustpilot reviewers report withdrawals blocked during Pionex 'risk-control' reviews or until KYC is completed (user claims, not verified). [source](https://intercom.help/pionex/en/articles/14607875-what-is-merkle-tree) |
| Can it hold or freeze your funds? | Pionex's terms of use could not be retrieved, so the exact wording is not confirmed here. In public replies on Trustpilot, Pionex cites 'risk-control measures' when users report funds being unavailable, and reviewers describe trading and withdrawal restrictions followed by requests for personal and trading records. [source](https://www.trustpilot.com/review/Pionex.com) |
| What a leaked API key can do | Pionex's API docs recommend setting up IP whitelisting along with the API key. Keys are created in the app or site under Account Settings, API Management (per CoinLedger's guide). The docs link to a separate 'API Key Permissions' page, which could not be retrieved, so whether keys have a withdrawal permission is not confirmed. Third-party guides say read-only keys are enough for tax and portfolio tools (CoinLedger, TradesViz). [source](https://www.pionex.com/docs/api-docs) |

## Official links

**Not fully confirmed.** Some of these links were confirmed in only one place, so treat them with care.

- Website: `pionex.com`

- Telegram: `@pionexen`

Where we confirmed these
- https://www.pionex.com/blog/ (site footer links Telegram t.me/pionexen, Twitter, Reddit, Facebook; navigation links Discord)

- https://coinmarketcap.com/exchanges/pionex (listing shows website pionex.com and Telegram t.me/pionexen)

- https://apps.apple.com/hn/app/pionex-crypto-trading-bots/id1485348891 (App Store listing, seller BitUniverse CO., Limited, names www.pionex.com as its support site)

## Incidents

Items marked "reported by users" are claims we could not confirm with the vendor or a security firm.

| Date | What happened | Amount | Outcome | Source |
| --- | --- | --- | --- | --- |
| 2025-05-28 | Four US state regulators (Nebraska, North Carolina, Ohio, South Dakota) issued a consent order against Pionex Inc., the US entity, over failing to collect sender and beneficiary information on transfers above $3,000, information-security and record-keeping deficiencies, and operating before licensing in North Carolina and Ohio. Pionex did not admit wrongdoing. (third-party report) | $20,000 penalty | Penalty plus two years of quarterly progress reports; no cease-and-desist | [source](https://dlr.sd.gov/banking/legal/documents/pionex-consent-order.pdf) |
| 2022-03-06 | Pionex was attacked and suspended deposits and withdrawals while it repaired and upgraded its wallet functions (Wu Blockchain report, per CoinCodeCap). The article does not say how much was lost. |  | Per the article, Pionex said it had fully compensated affected users and would reopen deposits and withdrawals after the upgrade. We did not find Pionex's own notice. | [source](https://coincodecap.com/crypto-exchange-and-trading-bot-provider-pionex-attacked) |
| 2026-10-25 | Pattern of user complaints: Trustpilot shows a 2.5/5 score from 636 reviews (40% one-star). Themes include stuck withdrawals, trading and withdrawal restrictions after profitable trades or deposits, KYC-gated withdrawals, slow support and disputed compensation. Trustpilot does not verify reviews. (reported by users) |  | Pionex replies to most negative reviews, often citing risk-control measures; compensation limited to verified platform issues | [source](https://www.trustpilot.com/review/Pionex.com) |

## Check a link

Got a link, @handle or repo that claims to be Pionex? Paste it to see if it's on the official list.

Checking links inside Telegram? Send them to [@TASCheckBot](https://t.me/TASCheckBot), or add it to your group so anyone can type `/check`. Alerts on new drains and fakes: [@tradingAgentStk](https://x.com/tradingAgentStk).

## Get an alert for Pionex

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Something wrong or out of date? [Send a correction](https://tradingagentstack.com/submit/) with a link to the vendor's docs. Not financial advice. [How we check](https://tradingagentstack.com/check/#method).

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