CoinEx initiated shutdown of its cryptocurrency exchange on Sept. 15, 2026, after nearly nine years of operation. Users have until Dec. 22, 2026, to withdraw their assets before the platform formally closes.
Founder Yang Haipo said managing security and compliance risks became untenable. "Carrying unlimited risk for limited revenue is no longer a rational choice," he said. The exchange faced declining trading volumes, regulatory headwinds across major markets, and a prolonged crypto market downturn that crushed industry-wide liquidity.
Yang rejected selling the platform. He said the decision to wind down while guaranteeing full asset withdrawal honored the trust users placed in the exchange and him personally.
CoinEx confirmed its reserve ratio stands above 100 percent, meaning all user assets are fully backed. The exchange urged early withdrawals to avoid network congestion and fee spikes as the deadline approaches.
Any unclaimed USDT after Dec. 22 transfers to independent custody with a 5 percent monthly fee applied to the original balance. Users can claim these funds until Aug. 22, 2028.
CoinEx will implement a buyback program for all remaining CET token held in user accounts at a fixed price of 0.005 USDT per token, with no quantity limits. Yang apologized to CET holders over the token's failure to deliver long-term value, calling the buyback an exit opportunity.
The closure does not affect related entities. ViaBTC, the Bitcoin mining pool, operates independently and will continue. CoinEx Wallet and CoinEx Vault will remain active.
