Crypto Exchange CoinEx Is Shutting Down After Nine Years, Giving Users Until December to Cash Out
CoinEx said it will shut down and wind down operations, with the exchange closing on Dec. 22 and users able to withdraw funds until then. Founder and CEO Haipo Yang said the decision reflects prolonged market weakness and growing compliance and security risks, and that he chose a “clean ending” rather than selling the platform. The wind-down is being phased: new registrations and referral rewards have stopped, futures trading is reduce-only, non-spot services end Sept. 22, spot trading ends Sept. 29, and withdrawals close on Dec. 22. CoinEx will also buy back its native CET token at its original listing price of 0.005 USDT from Sept. 15 to Sept. 29, then convert any remaining balances at the same rate. CoinEx said user assets remain fully backed with a reserve ratio above 100%. The closure comes amid a broader wave of exchange shutdowns and follows earlier scrutiny over alleged ties to sanctioned Iranian platforms, which CoinEx denied.
