STEX (stex.com, formerly Stocks.exchange) was an Estonian centralized crypto exchange that stopped working in June 2023: it announced a data loss, withdrawals stopped and users could not reach their balances. On October 23, 2026 stex.com showed only a placeholder page, and sites claiming to “relaunch” STEX carry classic recovery-scam signs.
Key Takeaways
- STEX ran from about 2017 as Stocks.exchange, later STEX, with hundreds of altcoin pairs.
- June 2023: operations stopped after a reported data loss; users lost access to funds.
- Now: stex.com is a placeholder; no official recovery process we can confirm.
- Red flag: a “new STEX” asking for a deposit to unlock old balances.
- Lesson: an exchange account is an IOU; a self-custodial wallet is not.
What STEX Was
STEX was a custodial exchange registered in Estonia that started as Stocks.exchange around 2017 and later rebranded to STEX. It listed many small-cap tokens that larger exchanges did not, which made it popular for altcoin trading and token listings. Like any centralized exchange, it held users’ funds and keys on its side; users saw balances in their accounts, not on-chain.
What Happened in 2023
In June 2023 STEX ceased operations. According to user reports, the exchange said it had suffered a data loss that left its records of balances and transactions fragmented and inconsistent, and that it could not continue operating (Traders Union). Before that, users had reported long withdrawal delays and unanswered support tickets. CoinTracking lists STEX as an Estonian exchange that ceased operations in 2023 (CoinTracking).
| Date | Event |
|---|---|
| ~2017 | launches as Stocks.exchange in Estonia |
| later | rebrands to STEX (stex.com) |
| before mid-2023 | complaints about delayed withdrawals |
| June 2023 | stops operations, cites data loss |
| Oct 23, 2026 | stex.com shows a placeholder page |
The “STEX Relaunch” Red Flag
Reports after the closure mention a site at stex.us.com that presented itself as a relaunch to help users recover funds, with users asked to deposit more money to reactivate accounts. That pattern, “pay to unlock what you already own”, is the most common recovery scam after an exchange collapse. On October 23, 2026 stex.us.com did not open at all.
How to recognise a recovery scam:
- It asks for a deposit, tax or fee before releasing your old balance.
- It reaches you first: a direct message, email or comment you did not ask for.
- It asks for a seed phrase or a wallet connection with broad approvals.
- It cannot point to a court, liquidator or regulator handling the case.
If You Had Funds on STEX
- Collect evidence: account email, deposit and withdrawal transaction IDs, screenshots of balances.
- Check official channels in Estonia, where STEX was registered, and your local police or financial regulator for any claim process.
- For taxes: exports from tools such as CoinTracking can still include old STEX history; a lost balance may be treated as a loss in some countries, so ask a tax adviser.
- Do not pay anyone who promises to unlock STEX funds.
Safer Ways to Swap Now
The STEX collapse shows the core risk of custodial exchanges: your balance is a promise. You can trade without that promise:
| Custodial exchange (like STEX) | Non-custodial swap | |
|---|---|---|
| Who holds funds | the exchange | you, in your wallet |
| Account and KYC | usually required | not needed for on-chain swaps |
| If the service closes | balance can be lost | tokens stay in your wallet |
| Fees | trading and withdrawal fees | network fees plus route or service fee |
Step Exchange is a non-custodial cross-chain swap: you sign each swap in your own wallet, funds go from your address to your address, and the service never holds them (fee 0.7%). Keep holdings in a self-custodial wallet such as Gem Wallet, an open-source wallet with built-in swaps across 100+ blockchains, or another wallet you control.
Limits
- Step Exchange is not connected to STEX and cannot access STEX accounts or balances.
- We could not confirm any official STEX recovery process; facts above come from public reports and user statements.
- Non-custodial swaps remove exchange custody risk but not smart contract, bridge or phishing risks: see crypto bridge safety.
Related: what is a DEX aggregator, cross-chain swap, Step Exchange history.
