TLDR
- CoinEx is closing after 9 years, blaming a prolonged crypto market downturn and rising compliance costs
- New user registrations, futures trading, and most services have already been halted
- Users have until December 22, 2026 to withdraw funds before the platform goes dark
- CoinEx will buy back its CET token at 0.005 USDT, slightly above market price
- Any USDT left on the platform after December 22 will move to a custodian and incur a monthly fee
CoinEx, a crypto exchange ranked 33rd by trading volume, announced Tuesday it is shutting down after nine years of operation. The exchange cited falling trading volumes, shrinking liquidity, and growing regulatory costs as the reasons behind the decision.
CoinEx to Shut Down After Nearly Nine Years as Crypto Slump, Compliance Costs Bite
CoinEx said it will wind down operations after nearly nine years, citing a prolonged crypto-market downturn, shrinking trading volumes and liquidity, and rising regulatory and compliance costs… pic.twitter.com/WDMqwx4UjL
— Wu Blockchain (@WuBlockchain) September 15, 2026
CEO Haipo Yang said the exchange never reached its goal of becoming an industry leader and that security and compliance risks had become too difficult to manage. He posted the announcement on X.
Why CoinEx Is Closing
The exchange pointed to a prolonged downturn in the crypto market, with overall industry trading volume and liquidity contracting over time. Regulatory costs across major jurisdictions had also grown beyond what the business could sustain.
CoinEx has a history with regulators. In 2023, it exited the United States following a settlement with the New York Attorney General. That deal returned over $1.1 million to New York investors and included more than $600,000 in state penalties. The exchange was also barred from operating in New York.
This closure is part of a wider trend. AscendEX shut down on July 1, citing a failure to meet requirements under the EU’s Markets in Crypto-Assets Regulation and a failed liquidity deal. BitMEX is closing on September 23 after 11 years. BitMart also ceased operations this year.
CoinEx was originally launched in December 2017 by crypto mining pool ViaBTC. It reported $58 million in 24-hour trading volume at the time of the announcement.
What Happens Next for Users
As of Tuesday, CoinEx stopped accepting new user registrations, referral commissions, and rewards. Futures contracts entered reduce-only mode. Fiat, margin, lending, staking, and strategic trading services stopped accepting new orders.
From September 22, all non-spot services and onchain deposits will end. Spot trading closes September 29, along with CoinEx Smart Chain and the decentralized exchange OneSwap.
Users have until December 22 to withdraw their funds. CoinEx confirmed its reserve ratio exceeds 100%, meaning all user balances are fully backed.
Any USDT left on the platform after December 22 will be moved to an independent custodian. That custodian will charge a monthly fee equal to 5% of the recorded balance. Users can file claims until August 22, 2028.
CoinEx will also buy back all remaining CoinEx Token at 0.005 USDT per token, with no cap on quantity. The token was trading at around $0.00466 on Tuesday, making the buyback price slightly above market.
CoinEx Wallet and CoinEx Vault are not affected and will continue to operate independently.
The exchange thanked its users in its closing statement, saying: “Thank you for your trust and support in the past nine years.”
