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Crypto exchange CoinEx will close after nearly nine years of operation, citing a prolonged market downturn, lower industry trading volume and liquidity, and rising regulatory and compliance costs.
The wind-down begins Sept. 15 and will run through Dec. 22, when withdrawals close and exchange operations end. CoinEx says customer assets remain fully backed, and its reserve ratio is above 100%.
New Registrations Stop September 15 as Futures Enter Reduce-Only Mode
CoinEx will stop accepting new user registrations on Sept. 15. Referral commissions and other rewards will also end, while futures contracts will enter reduce-only mode, so traders can cut or close positions but cannot increase exposure.
The exchange will stop accepting new orders or subscriptions for fiat services, margin trading, crypto loans, Earn products, staking and automated trading strategies from the same date.
All services outside spot trading will close on Sept. 22. CoinEx will also stop accepting on-chain deposits that day, except deposits of its native CoinEx Token, or CET, which will remain available until Sept. 29.
Spot Trading and CoinEx Smart Chain Close September 29
CoinEx will end all spot trading on Sept. 29. CoinEx Smart Chain and decentralized exchange OneSwap will also close on that date.
The exchange plans to repurchase CET remaining in customer accounts at 0.005 USDT per token. The buyback has no quantity limit and will close alongside spot trading on Sept. 29.
CoinEx Wallet and CoinEx Vault are separate from the exchange shutdown and will continue operating.
Users Have Until December 22 to Withdraw Supported Assets
Customers can withdraw supported assets until Dec. 22. After that deadline, remaining USDT covered by CoinEx’s wind-down arrangement will be transferred to independent custody rather than remaining on the closed exchange.
Those USDT balances will carry a monthly custody fee equal to 5% of the recorded amount. Customers will have until Aug. 22, 2028 to submit claims for assets transferred into custody.
CoinEx said trading conditions and rising compliance costs made continued exchange operations difficult. Users have until Dec. 22 to complete withdrawals before the exchange permanently ends withdrawal services.
