CoinEx Announces Official Shutdown After Nine Years

CoinEx is shutting down operations after nine years in the market. The exchange cited a difficult market environment, lower trading volumes, and rising compliance costs as the primary reasons for the closure. Founder Haipo Yang stated that he chose to close the platform rather than sell it, noting that the risks of running an exchange now outweigh the potential for revenue.

Services are winding down in stages to ensure an orderly exit. New registrations and reward payouts have already ceased, and the exchange has stopped accepting new orders for futures, margin, and staking products. Spot trading will officially end on September 29. The exchange claims that all user assets are fully backed and that its reserve ratio exceeds 100 percent.

Users have until December 22 to move their funds off the platform. Any remaining balances left on the site after this date will be moved into independent custody and subject to a monthly 5 percent fee. The company also plans to repurchase all CET tokens held by users at the initial listing price of 0.005 USDT. While the exchange is closing, the CoinEx Wallet and CoinEx Vault will continue to operate independently.