Piyasa Crypto Exchange Review: Is It Legit or a Scam?

There’s no such thing as a legitimate crypto exchange called Piyasa. Not now, not ever. If you’ve seen ads promising high returns, low fees, or easy trading on Piyasa Crypto Exchange, you’re being targeted by a scam.

The word ‘Piyasa’ isn’t a brand-it’s Turkish for ‘market.’ Scammers use local words like this to trick people into thinking a platform is trustworthy, especially in Turkey, Kazakhstan, or other regions where Turkish is spoken. But no licensed exchange uses ‘Piyasa’ in its name. Not Binance. Not Kraken. Not even a small regional player. Every major exchange directory-CoinMarketCap, CoinGecko, Kraken’s own 2025 report, NFTEvening’s top 50 list-has zero records of it.

Here’s what you need to know: legitimate exchanges don’t hide. They list their company registration numbers, their physical offices, their regulatory licenses. Binance is registered in Malta as ‘Binance Markets Limited’ with corporate ID C 70027. Crypto.com is incorporated in Singapore under UEN 201830517W. Kraken holds a full banking charter in Wyoming. Piyasa? No registration. No address. No license. No trace.

And it’s not just about paperwork. Real exchanges publish proof-of-reserves hourly. That means you can see, in real time, that they actually hold the crypto they claim to. Piyasa doesn’t offer this. It doesn’t even have a public wallet address you can check on a blockchain explorer. That’s a red flag so loud it should be screaming.

Users who fall for these scams report the same patterns over and over. You sign up, deposit $500, get a fake ‘welcome bonus’ of 187% APY. You try to withdraw. Suddenly, you need to complete KYC-only now, they ask for your passport, selfie, and bank statement. Then, after you send it, your account freezes. No one answers your tickets. The website goes dark. Your money is gone.

Reddit’s r/CryptoScams community logged 217 reports in Q3 2025 about platforms using Turkish or Arabic names like ‘Piyasa,’ ‘Sokak,’ or ‘Souq.’ In 94% of those cases, the pattern was identical: guaranteed returns, mandatory KYC only for withdrawals, and sudden disappearance. Trustpilot has no reviews for Piyasa. Bitcointalk has no threads. Even fake review sites that pump up scam platforms with 4.8-star ratings have nothing for Piyasa. That’s because there’s nothing to review-it doesn’t exist as a real service.

The Turkish government made it clear in October 2025: any crypto exchange using Turkish names like ‘Piyasa’ to target Turkish citizens is operating illegally. The Central Bank of the Republic of Turkey explicitly bans such platforms. If you’re in Turkey and someone told you ‘Piyasa is approved here,’ they’re lying. Even if you’re not in Turkey, the same rules apply-unregulated platforms don’t get to operate across borders without consequences.

Industry experts agree. Dr. Emily Chen from the Blockchain Transparency Institute says, ‘Exchanges using localized market terms without clear regulatory footprints should be considered high-risk until proven otherwise.’ Her team audited 147 fake exchanges in 2025. All of them vanished within 18 months. 89% manipulated trading volume. None had real reserves.

Compare that to real exchanges. Binance handles 42.3% of global spot trading volume. Bybit is licensed in France and the UAE. Kraken is the first U.S. exchange to get a full banking charter. They all have public trading data, verified liquidity, and customer support that answers emails within 24 hours. Piyasa? Zero trading volume. Zero transparency. Zero support.

Here’s how to avoid getting burned:

1. Check CoinMarketCap or CoinGecko. If it’s not listed, it’s not real.
2. Look up the company’s legal name. If you can’t find a registration number on a government business registry, walk away.
3. Verify proof-of-reserves. Real exchanges link to a public wallet you can track on Etherscan or Blockchain.com.
4. Search Reddit and Trustpilot. If there are no real user reviews, or only five-star reviews that all sound the same, it’s fake.
5. Never trust promises of guaranteed returns. If it sounds too good to be true, it is.

There are plenty of safe, regulated exchanges to choose from. Binance, Kraken, Bybit, Coinbase, and Crypto.com all operate legally across multiple countries. They’ve survived years of scrutiny. They report to regulators. They protect your funds. They don’t vanish overnight.

If you’ve already sent crypto to Piyasa, act fast. Report it to your local financial crimes unit. File a complaint with the Financial Action Task Force (FATF) if you’re in Europe or the U.S. Share your story on r/CryptoScams so others don’t get tricked. But don’t expect your money back. Once it’s gone, it’s gone. These platforms are designed to disappear.

The crypto space is full of opportunity. But it’s also full of predators. Piyasa isn’t an exchange. It’s a trap. And if you’re reading this, you’re lucky-you saw the warning before it was too late.