Defx Reviews 16

when i started trading, i was not willing to let commissions eat up my profits. i then tried defx’s zero-commission account. it is a solid one for keeping my costs low, especially when i am placing small trades. with the tight spreads, my trades get balanced out! overall, i am happy trading on the zero-commission account.

Do not recommend. DefX leadership/management took my funds and scammed me.

Please do not interact with this company. These are fraudulent people, only out there to steal you're money. Better be safe then sorry folks.

To those considering utilizing Defx, a platform created and run by serial scammers Darshan Bathija and Sanju Sony Kurian…I beg of you to stop and reconsider.

Darshan and Sanju are responsible for destroying thousands upon thousands of lives through their failed crypto businesses over the years…most recently Vauld.

Vauld unexpectely froze all of its users funds on July 4, 2022 due to a severe lack of liquidity and its horrific financial situation. However…just days before this, CEO Darshan had emailed all Vauld users saying there was no liquidity crisis and that they were continuing business as usual.

As time went on, Vauld misled its customers into approving a recovery scheme that has recovered ZERO funds to this date, and has been milking all available funds to pay their own salaries and a new business. There has been a complete lack of transparency in the various legal battles Vauld is fighting, which have even included being accused by India’s Enforcement Directorate of assisting with money laundering through the Vauld platform.

It was also revealed that the collapse of Vauld was not the “crypto winter,” but rather Darshan and Sanju’s reckless behavior with creditors’ money…for example, they had advertised that all loans made with creditor funds were backed by 150% collateral, when in reality, it was ZERO collateral. This caused the majority of creditor funds to be lost and locked away with various counterparties.

To this day, Vauld creditors have not been repaid, and Darshan and Sanju are trying to start another scam business with Defx. As a victim of their Vauld scam, I beg of you to avoid them at all costs.

The founder is a scammer who was trading with user funds at his last venture.

And here he is again trying to loot people!

Would not recommend this product at all

Really an awful experience dealing with this company. Of course that is not a surprise, because one of the founders, Darshan Bathija, owes from Vauld, his most recent failure, millions of dollars. Everyone should be careful involving themselves in any way, shape or form with Darshan Bathija. He sent a letter to all Vauld creditors back in June 2022 telling them everything is perfectly fine. Everyone's funds were locked up just a couple weeks later. This has been devastating and hurtful to thousands upon thousands of people. And the only thing Darshan has done is skulk away and attempt to set up a new shop where he will undoubtedly try to defraud more people. Anyone can research this and check it out for themselves if they are so inclined. But be careful dealing with Darshan. He is not a legitimate businessman, is as dishonest as they come, and only thinks about and cares about himself. When you think about it, it's interesting that the letters for his new company literally spelled out the word Defects.

Darshan Bhatija is a Fraud. Used FinInfluencers to create a hype about Vauld and defrauded millions. Now he is hopping to another level and repeating his scam circus. Beware guys and do not participate in any which way with companies like DeFx

I cannot believe this team of scammers after losing thousands of Vauld's clients' money has started another venture. Please be extra careful dealing with such entity operated by team with such track record. Go research and verify the team credential online and you will know what I mean.

Vauld, Bank of Hodlers, Darshan Bathija the CEO has destroyed the lives of many of his customers. People lost their life savings putting their trust in Bathija. With the help of the firm Kroll, any assets left are being bled out to pay over $10 million since July 2022 while the creditors have received $0. DO NOT TRUST THESE PEOPLE.

Vauld, Bank of Hodlers, Darshan Bathija the CEO has bankrupted them all and lost investors 100's of billions. Do not invest anything with this guy or any business that is funding him.

Darshan and Sanju are two that scammed Vauld customers of their investment and still have not returned their funds. Two criminals!

These criminals are the same scum who stole countless funds from both Vauld and Bank of Hodlers. And they now have the audacity to open up their newest scam whilst not even settling their debts with Vauld creditors. Put your money here if you want to get scammed by these shameless thieves.

The founders Darshan Bathija and Sanju Kurian are the same team who defrauded Vauld customers out of millions of dollars of their crypto all the while lying about how their crypto was only loaned out to counter parties via 150 percent collateral loans and that it was secured by BitGo. All lies. Stay away from Defx .

This new "startup" is being run by Darshan and probably some of his older accomplices who managed to take away all the hard earned money from so many regular, normal people in another venture called "Vauld".
My sole purpose of this review is to make sure no one ever trusts them with their money and allows them another shot at stealing in broad day light.

The execs behind this crypto venture are the same who ran Vauld / Bank of Hodlers into bankruptcy causing a lot of people to lose 66% of their crypto holdings. There are strong signals it was a Ponzi scheme, though we don't know for sure. What we do know is that during the court proceedings the affidavits were riddled with lies, misinformation, and omissions and that the exec's actions severely undermined the prospective recoveries of the creditors, then they washed their hands of the whole ordeal and walked away to form DEFX. Absolutely no morals whatsoever in these people. If I had to rate the execs in terms of reputation it would be a zero. Total scammers. Beware!

The CEO of DEFX, Darshan Bathija, previously founded Bank of Hodlers and Vauld (DeFi Payments Pte), both of which collapsed, leaving 150,000 creditors waiting over 2.5 years for the recovery of their assets. Despite this, clever maneuvering during the restructuring, with the involvement of Kroll, allowed Bathija to emerge relatively unscathed.

I am writing this review to warn prospective DEFX customers about the risks of entrusting assets to this platform. DEFX takes custody of your assets for trading and in liquidity pools—a structure similar to Vauld’s. Bathija’s track record raises significant concerns about the security of customer funds under his control.

In 2022, as the crypto market crashed, Vauld reportedly had sufficient reserves to meet creditor obligations. However, Bathija secretly withdrew $202 million in customer assets under multiple Non-Disclosure Agreements and lent them to a third party—a move that caused immediate insolvency and, for undisclosed reasons, led to the ongoing arbitration. This decision not only lacked transparency but also inflicted severe financial and emotional distress on creditors, myself included.

In my opinion, such actions demonstrate a troubling pattern of prioritizing personal or company interests over those of creditors and customers. With DEFX offering liquidity pools for crypto deposits, I worry about the fate of customer assets in light of this history.

I urge anyone considering DEFX to carefully weigh the risks of depositing funds under the control of an individual whose previous ventures have left creditors in financial limbo. Protect your assets and think twice before trusting this platform.