Even unregulated exchange platforms are allowed to coexist but they come with a higher risk of being moved out of the lawn without any remorse or being tracked down by the government of its licensing. Nix-E was an unregistered exchange found in Russia that came to its expected end after a while of its short existence. If you try to access the website, you will be met with a page that tells you you can't access the site. I really don't know if any user lost his money in the closure of the exchange but with it's status, don't expect a comeback for the exchange.