CoinEx Begins Shutdown After Nine Years of Crypto Trading

Cryptocurrency exchange CoinEx is winding down its operations after nearly nine years, citing weaker trading activity, reduced market liquidity and rising regulatory and compliance costs.

The exchange began the shutdown process on September 15, 2026, and plans to stop all operations on December 22. CoinEx said the decision followed a prolonged downturn in the crypto market, lower industry trading volumes and increasing regulatory requirements across major jurisdictions. CoinEx was launched in 2017 under the ViaBTC Group and is led by founder Haipo Yang.

CoinEx begins staged shutdown

The first phase of the closure started on September 15, when CoinEx stopped accepting new user registrations and ended referral commissions and promotional rewards.

Futures markets moved into reduce-only mode, while the exchange stopped accepting new orders or subscriptions for fiat services, margin trading, loans, Earn products, staking and strategic trading.

These services are scheduled to end completely on September 22. CoinEx will also stop on-chain deposits on that date, except for CET deposits, which will remain available until September 29.

Spot trading ends on September 29

Spot trading will continue until September 29, when CoinEx will cancel unfilled orders and begin processing non-USDT assets held on the platform. Assets with sufficient external market liquidity will be sold and converted into USDT based on the proceeds from those transactions. Assets without sufficient external liquidity will be delisted, with users advised to withdraw them to external wallets before the deadline.

CoinEx will also buy back its CET token at 0.005 USDT per token between September 15 and September 29. Any CET remaining in user accounts after the buyback period will be automatically repurchased at the same price. CoinEx Smart Chain and OneSwap are also scheduled to shut down on September 29.

Users have until December to withdraw funds

CoinEx has kept withdrawals open throughout the shutdown period, with the final deadline set for December 22, 2026. The exchange says its asset reserve ratio remains above 100% and that user assets are fully backed and available for withdrawal.

After December 22, any remaining USDT will be transferred into independent custody and will attract a monthly fee equal to 5% of the original balance recorded at the end of the withdrawal period. Users will have until August 22, 2028 to submit custody claims, subject to identity and security checks.

CoinEx has urged customers to withdraw their funds early, warning that blockchain congestion, changing network fees and transaction delays could affect withdrawals closer to the final deadline.

Founder says risks no longer justified

CoinEx founder Haipo Yang said the decision followed a reassessment of the risks involved in running a centralised crypto exchange.

Yang has said that security requirements, regulation and compliance costs have continued to increase while CoinEx remained outside the industry's largest exchanges. He also said he considered selling the business before deciding that an orderly closure was preferable.

For CoinEx users, the shutdown now turns the focus to three key dates: September 22 for non-spot services, September 29 for spot trading and asset processing, and December 22 for the final withdrawal deadline.

CoinEx also said its CoinEx Wallet and CoinEx Vault are separate services and will continue operating, despite the closure of the centralised exchange.