CoinEx to Shut Down After 9 Years, Final Withdrawal Deadline Set for December 22

CoinEx (CoinEx), a virtual asset exchange, has decided to cease operations after nine years, setting a withdrawal deadline of December 22. The exchange cited prolonged market stagnation, declining industry trading volume and liquidity, as well as rising regulatory requirements and compliance costs in its announcement on the 15th.

CoinEx stated it would gradually shut down major services including spot trading by September 29. It will maintain withdrawal services until December 22, after which it will end operations. The exchange launched on December 22, 2017, and noted that unwithdrawn USDT will be moved to separate storage after the deadline, with a monthly custody fee of 5% applied to remaining balances.