The CoinEx crypto exchange is shutting down its operations after nine years, citing a "prolonged" crypto market downturn, shrinking trading activity and rising compliance costs across major j
The CoinEx crypto exchange is shutting down its operations after nine years, citing a "prolonged" crypto market downturn, shrinking trading activity and rising compliance costs across major jurisdictions.
The exchange said the wind-down will begin on Sep. 15, with services being withdrawn in stages before the platform closes completely on Dec. 22.
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CoinEx will immediately stop new user registrations, referral commissions and several new product subscriptions. Futures markets are moving into reduce-only mode, while no new orders will be accepted for margin trading, loans, staking, earn products and several other services.
All non-spot services are scheduled to end on Sep. 22. On-chain deposits will also close that day, with the exception of deposits in CoinEx Token, or CET, which will remain available until Sep. 29.
Spot trading is due to stop on Sep. 29. CoinEx will then repurchase all remaining CET held in customer accounts at 0.005 USDT per CET, without a quantity cap or additional eligibility requirements. CoinEx Smart Chain and OneSwap will also cease operations on the same date.
The company said deteriorating market conditions and operating costs had pushed the business beyond what it considered sustainable.
CoinEx said its reserve ratio remains above 100%, meaning customer assets are fully backed and available for withdrawal. Withdrawal channels will remain open until Dec. 22 at UTC+8.
Users holding USDT have a 90-day withdrawal window. Any USDT left on the platform after the deadline will be transferred into independent custody, with a monthly custody fee equal to 5% of the original balance recorded when the withdrawal period ends. Custody claims can be submitted until Aug. 22, 2028.
CoinEx urged customers not to wait until the final days, noting that blockchain congestion, changing network fees and slower confirmation times could complicate withdrawals.
“Ensuring that users can recover their assets safely and in an orderly manner is now CoinEx’s highest priority. We will complete the remaining service arrangement and asset settlement procedures accordingly.”
CoinEx Wallet and CoinEx Vault are operated separately from the exchange and will continue functioning normally.
