CoinEx Shuts Down After Nine Years with December Withdrawal Deadline

Crypto exchange CoinEx is shutting down after nine years in operation. The platform stopped taking new user registrations on Tuesday and plans to close completely by December 22. The team pointed to a long market downturn, lower trading volumes, and rising compliance costs as the reasons for the shutdown.

To help token holders, CoinEx announced a repurchase plan for the CoinEx Token, known as CET. The exchange will buy back remaining tokens at 0.005 USDT each with no quantity limits. This price sits slightly above the recent market rate of 0.00466 USDT, giving holders a chance to exit above current values.

Users now face a tight schedule to clear their accounts. Futures and margin services stopped accepting new orders on Tuesday. Spot trading will finish on September 29, but user withdrawals remain open until December 22. Any funds left behind after that date will face a monthly fee of 5 percent of the balance, so traders should act quickly to secure their assets.