DefxReviews of defx.com

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.