Ebi.xyz Crypto Exchange Review: High-Risk Meme Coin DEX with Telegram Integration
Dec, 5 2025
Meme Coin Shorting Risk Calculator
Calculate your potential profit and loss when shorting meme coins using Ebi.xyz's FUD Market. Understand how leverage affects your position risk before trading.
If you're looking for a crypto exchange that lets you short meme coins without KYC, Ebi.xyz might catch your eye. But here's the truth: it’s not just another DEX. It’s a high-stakes gamble wrapped in sleek design and flashy partnerships. The platform promises easy access to volatile meme tokens through its unique FUD Market - the first perpetual futures market built solely for shorting meme coins. Sounds powerful? Maybe. But the red flags are loud enough to drown out the hype.
What Exactly Is Ebi.xyz?
Ebi.xyz is a decentralized exchange (DEX) built on Arbitrum Orbit, an Ethereum Layer 2 chain. Unlike most DEXes that use automated market makers (AMMs) like Uniswap, Ebi.xyz runs a limit order book - the same system used by centralized exchanges like Binance. That means if you’ve traded on a CEX before, the interface feels familiar. No slippage, no price impact from large trades. Just bids and asks, like the old days. But here’s what makes it different: it’s non-custodial. Your funds never leave your wallet. You connect your wallet - usually via Telegram’s HOT Wallet - and trade directly. No deposits. No withdrawals. Just sign, trade, and walk away. That’s great for privacy, but it also means there’s no customer support if something goes wrong. Launched in late 2021, Ebi.xyz has been around for about four years as of 2025. That’s not nothing, but in crypto time, it’s still a baby. Most top DEXes like dYdX and GMX have been running for over seven years. Ebi.xyz’s growth spurt came in September 2024, when it claimed over 145,000 new accounts in under a week. That kind of surge doesn’t happen by accident. It’s fueled by partnerships.The FUD Market: Shorting Meme Coins Without Holding Them
The real hook of Ebi.xyz is the FUD Market. It’s the only perpetual futures exchange that lets you short meme coins exclusively. Think of it as betting that a token like $WIF or $PEPE will crash - without ever owning it. Why does this matter? Because over 1.9 million meme coins have been launched on platforms like Pump.fun since 2023. Less than 10% of them survived past 30 days. Most traders who buy these tokens lose money. The FUD Market gives you a way to profit from that chaos. You don’t need to buy the token. You don’t need to hold it. You just open a short position, set your leverage (up to 20x), and if the price drops, you cash out. It’s like betting against a house of cards. And for traders who understand the meme coin cycle, it’s a powerful tool. But here’s the catch: you’re trading against other users, not a liquidity pool. That means if nobody else is shorting the same token, your trade might not fill. Liquidity is thin. And with no real market makers, slippage can be brutal during spikes.Telegram Integration: The Secret Weapon
Ebi.xyz’s biggest advantage isn’t its tech - it’s Telegram. The platform is the first DEX to fully integrate with Telegram’s HOT Wallet. That means you can trade Ebi.xyz directly inside the Telegram app. No need to switch to MetaMask or WalletConnect. Just open Telegram, tap your wallet, and start trading. This lowers the barrier for new users - especially those who came into crypto through Telegram games like Hamster Kombat. Hamster Kombat, which has over 125,000 YouTube subscribers, actively promotes Ebi.xyz as a place to cash out your $HOT tokens for USDT. And here’s the kicker: you don’t need KYC to claim those airdrops. For privacy-focused traders, that’s gold. No ID uploads. No address verification. Just connect your wallet and go. But this also makes Ebi.xyz a target for regulators. Most countries require derivatives exchanges to collect KYC data. If the SEC or EU regulators come knocking, Ebi.xyz could be shut down overnight - and your funds could vanish with it.
Trust Issues: Scam Alerts and Anonymous Ownership
Let’s talk about the elephant in the room: trust. ScamAdviser gives Ebi.xyz a “very low trust score.” They flagged the site as possible malware and noted it was identified by Gridinsoft as risky. Yet, DNSFilter says it’s safe. The SSL certificate is valid. So is it a scam? Not technically. But the signs are alarming. The domain owner hides their identity on WHOIS. That’s not illegal - many projects do it. But in crypto, it’s a red flag. Legitimate teams usually put their names out there. Ebi.xyz? No team page. No LinkedIn profiles. No GitHub commits. Just a website and a Twitter account that posts promotional content. Traders Union, a review aggregator, gave Ebi.xyz a 0.7 out of 5. Their report cites “poor user feedback, low engagement, and unresolved complaints.” That’s not just bad ratings - it’s a warning that users are leaving frustrated. On the flip side, promotional content from Hamster Kombat and Chainwire paints Ebi.xyz as an innovator. The disconnect is stark. Partner projects benefit from the traffic. Independent users? They’re left to figure things out alone.How It Compares to Other DEXes
| Feature | Ebi.xyz | dYdX | GMX | Uniswap |
|---|---|---|---|---|
| Type | Limit Order Book DEX | Limit Order Book DEX | AMM with Order Book | AMM Only |
| Chain | Arbitrum Orbit (Ethereum L2) | Arbitrum & Starknet | Arbitrum & Avalanche | Ethereum |
| Perpetuals | Yes (meme-focused) | Yes (major coins) | Yes (broad range) | No |
| KYC Required | No (for airdrops/trading) | No | No | No |
| Telegram Integration | Yes (HOT Wallet) | No | No | No |
| Trading Volume (Q2 2025) | Not disclosed | $54B | $38B | $287B |
| Operational Since | 2021 | 2017 | 2021 | 2018 |
Ebi.xyz doesn’t compete with dYdX or GMX on volume or liquidity. It competes on niche appeal. If you’re trading $BONK or $PEPE, and you want to short it fast, Ebi.xyz is one of the few places you can do it. But if you’re trading BTC or ETH futures? You’re better off on dYdX or Bybit.
Who Should Use Ebi.xyz?
This isn’t for beginners. If you don’t know what leverage, funding rates, or liquidation prices are, you shouldn’t be here. The interface is simple, but the risks aren’t. It’s for three types of traders:- Meme coin speculators who want to bet against tokens they don’t own.
- Telegram-native users who already use HOT Wallet and want to trade without leaving the app.
- Privacy-focused traders who refuse KYC and accept the risk of operating in a gray zone.
How to Get Started (If You Decide To)
If you still want to try it, here’s how:- Download Telegram and create an account if you don’t have one.
- Search for the HOT Wallet bot in Telegram and start it.
- Follow the prompts to create your wallet. You’ll get a seed phrase - write it down. Never share it.
- Go to ebi.xyz and click “Connect Wallet.”
- Select “Telegram HOT Wallet” and approve the connection.
- Deposit USDT into your HOT Wallet (you can buy it via the bot).
- Go to the FUD Market, pick a meme coin, and open a short position.
Remember: gas fees are low on Arbitrum Orbit, but if you disconnect your wallet or close the tab mid-trade, your position might get stuck. There’s no customer service to help you fix it.
The Bottom Line: High Risk, High Reward
Ebi.xyz is a product of its time. It thrives in the chaos of meme coin mania and Telegram’s crypto boom. Its FUD Market fills a real gap - giving traders a way to profit from the inevitable crashes of worthless tokens. But it’s also a house built on sand. No team. No transparency. No regulatory shield. One regulatory crackdown, one smart contract exploit, or one partner pulling out - and the whole thing could vanish. If you’re a seasoned trader who understands the risks and wants to play the meme coin game with leverage, Ebi.xyz gives you the tools. But if you’re looking for safety, stability, or long-term growth? Keep looking.As of October 2025, Ebi.xyz is still active. The website loads. The trades execute. The airdrops still drop. But the question isn’t whether it works - it’s whether it’ll still be here in six months.
Is Ebi.xyz safe to use?
Ebi.xyz has a valid SSL certificate and doesn’t contain obvious malware, but security tools like ScamAdviser flag it as high-risk due to anonymous ownership, lack of team transparency, and negative user feedback. It’s not a scam in the traditional sense, but it operates without accountability. Use it only with funds you’re willing to lose.
Does Ebi.xyz require KYC?
No, Ebi.xyz does not require KYC for trading or for claiming airdrops from partners like Hamster Kombat. This is a major draw for privacy-focused users. However, this also puts the platform in legal jeopardy, as most jurisdictions require derivatives exchanges to verify users.
Can I trade Bitcoin or Ethereum on Ebi.xyz?
No. Ebi.xyz focuses exclusively on meme coins like $BONK, $PEPE, and tokens created on Pump.fun. It does not offer trading pairs for major cryptocurrencies like BTC or ETH. If you want to trade those, use dYdX, GMX, or a centralized exchange.
What is the FUD Market?
The FUD Market is Ebi.xyz’s signature product - a perpetual futures market that allows traders to short meme coins only. You can’t go long. You can’t buy the token. You can only bet that it will crash. It’s designed for traders who believe most meme coins are worthless and want to profit from their collapse.
Why does Ebi.xyz integrate with Telegram?
Telegram has over 800 million active users, and its HOT Wallet makes it easy for non-technical users to access crypto. By integrating with HOT Wallet, Ebi.xyz taps into a massive, already-engaged user base - especially those coming from Telegram-based games like Hamster Kombat. This lowers the barrier to entry and fuels rapid user growth.
Is Ebi.xyz better than Uniswap or dYdX?
No, not overall. Uniswap and dYdX have far greater liquidity, longer track records, and more robust security. Ebi.xyz only beats them in one area: meme coin shorting with no KYC. If that’s your goal, it’s unique. For everything else - stable trading, major assets, reliability - it’s not a replacement.
What happens if Ebi.xyz shuts down?
If Ebi.xyz shuts down, your funds remain in your HOT Wallet - you still control them. But any open positions might not be able to close, and you’ll lose access to the platform’s interface. You’d need to manually withdraw your USDT from your wallet and move it elsewhere. There’s no support team to help you.
Jon Visotzky
December 6, 2025 AT 02:05So Ebi.xyz is basically a meme coin casino with a fancy UI and zero accountability
Love that it uses Telegram though - no KYC means I can short $WIF while eating tacos at 3am without some bureaucrat asking for my birth certificate
Mairead Stiùbhart
December 6, 2025 AT 11:57Oh sweet mother of decentralization - you mean to tell me this platform doesn’t even have a GitHub repo?
Bro, if your entire business model is built on betting that people will lose money on shitcoins, at least put your name on the damn website.
Glenn Jones
December 7, 2025 AT 02:53YALL ARE MISSING THE POINT
THIS ISN’T A PLATFORM IT’S A CULTURE
THE FUD MARKET IS THE ONLY THING KEEPING MEME COIN MANIA FROM COLLAPSING INTO A SINGLE 100B PUMP AND DUMP
IF YOU’RE NOT SHORTING $BONK YOU’RE JUST A LATE ENTRY GUY WHO GOT RUGGED BY HIS OWN FOMO
Madison Agado
December 8, 2025 AT 14:30There’s something deeply human about betting against the inevitable collapse of something that was never meant to last
It’s not gambling - it’s anthropology. We’re watching a digital folklore unfold in real time, and Ebi.xyz is just the stage where the last act plays out
People don’t trade here for returns - they trade because they need to believe someone else is dumb enough to buy $PEPE at $0.0000012
Krista Hewes
December 9, 2025 AT 17:43i tried this once and my position got stuck for 12 hours
no one responded
just sat there watching my margin get eaten alive
then i closed the tab and never looked back
never again
Tara Marshall
December 10, 2025 AT 09:07Bottom line: if you’re using HOT Wallet and trading meme shorts, you already know the risks
no need for a 10-page review
just don’t put more in than you’re willing to lose
and keep your seed phrase offline
Manish Yadav
December 10, 2025 AT 19:02This is why crypto is garbage
no team no rules no future
just people betting on dumb tokens like it’s a lottery
you’re not a trader you’re a sucker
Nina Meretoile
December 11, 2025 AT 12:49Telegram + meme shorts = next-gen crypto culture 🌍🔥
Imagine a kid in Mumbai using a free phone to short $BONK while his cousin in LA buys it
that’s the new global economy
no banks no borders no permission
just pure chaos and connection
sonia sifflet
December 13, 2025 AT 03:33Anyone who thinks this is innovative is delusional
It’s not a DEX it’s a phishing trap with a white label UI
the fact that you’re even considering using it means you’ve already lost
Elizabeth Miranda
December 13, 2025 AT 09:22I appreciate the transparency of the post - the risks are laid out clearly
That’s more than most crypto projects do
Still wouldn’t touch it with a ten-foot pole, but at least I know why
Richard T
December 15, 2025 AT 06:07For anyone new to this - think of Ebi.xyz like a bar with no bouncer
You can walk in, drink till you pass out, and no one will stop you
but if you wake up with your wallet gone, nobody’s gonna help you find it
you signed up for that
jonathan dunlow
December 16, 2025 AT 01:17Look I get it - meme coins are trash
but the FUD Market is the only place where the losers get paid
It’s not about winning
It’s about turning the madness into profit
And yeah, I’ve lost money here
but I’ve also made more than I did on Coinbase last year
It’s not safe
It’s not fair
But it’s real
michael cuevas
December 16, 2025 AT 09:12So you’re telling me this thing is built on Arbitrum but you can’t even find the devs on LinkedIn
Bro that’s not decentralized
that’s just ghosted
ronald dayrit
December 18, 2025 AT 07:45There’s a philosophical beauty in trading against the collapse of something that was never supposed to exist
It’s like watching a soap bubble burst and betting on which way the air will rush
Ebi.xyz doesn’t create value - it just gives you a front-row seat to the entropy
And if you’re smart enough to short $PEPE before the 99% dump
you’re not a gambler
you’re a witness
Jerry Perisho
December 18, 2025 AT 11:05Don’t forget - even if Ebi.xyz vanishes tomorrow your USDT is still in your HOT Wallet
It’s not gone
Just inaccessible until you reconnect
And you can always move it to MetaMask or Trust Wallet
Just don’t panic
Annette LeRoux
December 18, 2025 AT 18:53Imagine if this platform had a team that actually showed up
Like a real dev blog
A Twitter thread that wasn’t just memes and pump links
They could’ve turned this into something legendary
Instead they chose to be a ghost in the machine
And now the machine might collapse with them
What a waste
Tisha Berg
December 20, 2025 AT 12:38My cousin in India used this to cash out $HOT from Hamster Kombat
Got 50 USDT in 10 minutes
No ID
No waiting
Just tapped connect and walked away
That’s the real win here - access for people who’ve never had it before
rita linda
December 21, 2025 AT 16:18How is this even legal? The SEC should shut this down yesterday
Trading derivatives without KYC is a federal offense
And people are still acting like this is some kind of rebellion?
It’s not rebellion
It’s negligence
And you’re all just enabling it
Isha Kaur
December 21, 2025 AT 23:31I’ve been using Ebi.xyz for six months now and I’ve had three successful shorts on $BONK and $PEPE and two liquidations that wiped out half my account
But here’s what I’ve learned - the market doesn’t care about your emotions
It doesn’t care if you’re from India or the US or if you believe in crypto
It just moves based on hype and panic
And if you can ride that wave without getting greedy
you’ll survive longer than most
It’s not about being right
It’s about being disciplined
And honestly
if you’re still reading this
you’re already halfway there
Mariam Almatrook
December 22, 2025 AT 15:06One might argue that the absence of a legal entity, the obfuscation of ownership, and the deliberate avoidance of regulatory compliance constitute not merely a risk - but a moral failure of the crypto ethos itself.
One does not build a financial instrument upon the ashes of retail desperation and call it innovation.
One calls it predation.
And the users? They are not pioneers.
They are the collateral.
Noriko Robinson
December 23, 2025 AT 16:11It’s wild how much trust we give to anonymous platforms
But then again
we gave trust to Bitcoin when no one knew who Satoshi was
Maybe Ebi.xyz is just the next evolution
Not of tech
But of belief
Roseline Stephen
December 25, 2025 AT 06:04I don’t use it.
But I respect the chaos.