Cryptocurrency exchange CoinEx initiated an orderly liquidation of its operations on Sept. 15, 2026, setting a Dec. 22, 2026 deadline for users to withdraw all assets.
CoinEx asserts its asset reserve ratio exceeds 100 percent, claiming every user's digital asset is fully backed and available for withdrawal under all market conditions. The exchange maintains a strict 1:1 reserve ratio for user funds.
The shutdown follows a June 25 detailing transfers exceeding $3.84 billion through CoinEx by entities linked to Iran. The report presented a sharp contrast to CoinEx's public assurances of secure operations.
CoinEx launched a transparency initiative in 2022 that includes monthly Proof of Reserve updates. The latest update, released in May 2026, affirmed the exchange's reserve ratio surpassed 100 percent with full 1:1 backing for all user assets across major cryptocurrencies.
Users must complete all withdrawals by the Dec. 22 deadline. Assets remaining on the platform after that date will incur a cost.
