CoinEx will shut at 02:00 UTC on December 22, 2026, precisely 9 years after its launch, following a three-month phased shutdown of companies attributable to declining liquidity and rising compliance prices, based on an announcement from the alternate. The choice brings to a detailed a platform that operated via a number of crypto market cycles, whereas placing its dedication to totally refunding consumer belongings to a last check.
CoinEx begins a staged shutdown
In accordance with the official announcement, CoinEx stopped new consumer registrations, terminated referral fee distributions, and transitioned all futures markets to reduce-only mode beginning September 15. Customers can not open new positions, however can nonetheless cut back or shut present ones.
Beginning September 22, the alternate will halt all non-spot buying and selling companies, together with futures, margin, loans, Earn, staking, and automatic buying and selling methods. On-chain asset deposit operations will even stop on the identical day, except for CET, which is able to nonetheless be accepted till September 29.
Spot buying and selling will stop at 02:00 UTC on September 29. CoinEx will cancel unfilled orders, withdraw the remaining liquidity, and credit score the corresponding belongings to customers’ spot accounts. Withdrawal channels will stay operational till 02:00 UTC on December 22, at which level the alternate will formally shut.
The plan covers the alternate, CoinEx Good Chain, and OneSwap. CoinEx Pockets and CoinEx Vault are operated independently, so they’re unaffected and can proceed to function, based on the announcement.
Founder says alternate dangers grew to become tough to comprise
Talking after the shutdown announcement, founder and CEO Haipo Yang mentioned that enterprise effectivity not justified the safety and compliance dangers concerned in working CoinEx. As market management weakened, liquidity contracted, and compliance prices climbed, Yang emphasised the long-term accountability of operators within the face of more and more uncontrollable dangers.
Pricey CoinEx Neighborhood,
At this time, I’m saying that CoinEx will stop operations and start an orderly wind-down.
First, what issues most: your belongings are protected. CoinEx’s reserve ratio exceeds 100%, and each consumer asset is totally backed and out there for withdrawal. Withdrawals…
— Haipo Yang (@yhaiyang) September 15, 2026
Reselling the platform was thought of instead. Nevertheless, Yang famous that transferring management to a brand new proprietor might alter the accountability owed to individuals who deposited belongings into CoinEx. Administration in the end selected to self-supervise the withdrawal course of and closure, an possibility he referred to as a “clear ending.”
Non-USDT holdings face conversion after Sept. 29
The tip of spot buying and selling on September 29 additionally triggers the processing mechanism for remaining non-USDT balances on CoinEx. Customers wishing to retrieve the precise asset sorts they maintain should full their withdrawals earlier than this deadline.
Belongings that retain liquidity on markets outdoors CoinEx shall be bought in batches. Web proceeds shall be transformed into USDT and credited to customers’ spot accounts.
For belongings that not have liquidity, the alternate will regularly delist them and cease sustaining the related wallets. CoinEx will not settle for custody or alternate accountability for this group of belongings after the deadline. Customers wishing to maintain them should switch them to on-chain wallets earlier than spot buying and selling ceases.
CoinEx units CET buyback at 0.005 USDT
CoinEx will purchase again CET at a worth of 0.005 USDT per token. From September 15 to September 29, the alternate will preserve a purchase order at this stage on the CET/USDT pair with no amount restrict and 0 buying and selling charges. CET remaining in accounts when this system ends shall be robotically transformed to USDT.
CET misplaced almost 62% within the first half of September earlier than recovering to $0.004997 on September 15, near the buyback worth, based on CoinGecko. CoinEx reported that roughly 2.415 billion CET had been in circulation as of September 2, however didn’t disclose what number of tokens had been held on the alternate.
CET deposit actions and the redemption window for the bridge on CoinEx Good Chain will each shut on September 29. CoinEx is not going to provide additional buyback or conversion packages after this level, so on-chain CET holders should switch their tokens to the alternate earlier than the deadline in the event that they want to promote them again at 0.005 USDT.
CoinEx says consumer belongings stay totally backed
CoinEx maintains that consumer belongings are totally backed. In its August 25 Proof of Reserves snapshot, the alternate reported reserve ratios of 104.33% for USDT, 105.17% for BTC, and 100.35% for ETH. These figures mirror balances at a single time limit, not a full audit of the stability sheet or off-chain obligations.
USDT not withdrawn earlier than December 22 shall be transferred to an impartial custodian. A month-to-month custody charge equal to five% of the preliminary remaining stability on the finish of the withdrawal interval will apply. Customers can request the return of their belongings till August 22, 2028, and could also be required to re-verify their id.
CoinEx has beforehand confronted authorized points in sure markets. In 2023, the alternate reached a settlement with the New York Legal professional Normal, refunding roughly $1.17 million to 4,691 buyers, paying over $626,000 in fines, and withdrawing from the U.S.
In June 2026, TRM Labs reported tracing $3.84 billion in transactions between CoinEx and greater than 60 entities in Iran’s crypto ecosystem, together with round $2.7 billion linked to Nobitex. This was a blockchain evaluation by TRM, not a courtroom discovering, and CoinEx didn’t cite this report as a direct trigger for its closure.
CoinEx has not disclosed the full worth of belongings awaiting withdrawal. Its potential to totally course of all requests earlier than December 22 would be the last check of its over-100% reserve declare and the “clear ending” promised by Haipo Yang.
