CoinEx to Shut Down Operations by December 22 After 9 Years

CoinEx (CoinEx) is shutting down after nine years of operation. Starting Tuesday, new user registrations have been halted, and full platform shutdown is scheduled for December 22.

The Hong Kong-based platform cited prolonged market downturn, declining industry trading volume and liquidity, and regulatory compliance costs exceeding reasonable limits as reasons for the closure.

This shutdown marks the conclusion of CoinEx's long-term exit from regulated markets. In 2023, the exchange left the U.S. market following a settlement with New York Attorney General Letitia James, which resulted in over $1.1 million refunded to New York investors and more than $600,000 in fines paid to the state.

Token holders can withdraw at prices higher than market rates. CoinEx will repurchase all remaining CoinEx tokens (CET) at 0.005 USDT per token with no quantity limits or conditions.

According to BeInCrypto Markets data, CET traded at $0.00466 on Tuesday, about 7% below the buyback price and roughly 97% lower than its July 2018 peak of $0.15029.

All futures contracts transitioned to liquidation-only mode starting Tuesday. Fiat trading, margin, lending, interest products, staking, and strategic trading also stopped accepting new orders the same day.

Non-fiat services ended on September 22. Spot trading, CoinEx Smart Chain (CSC), and OneSwap will cease operations on September 29.

CoinEx stated that its reserve ratio exceeds 100%, fully safeguarding all user assets. Withdrawals remain available until December 22 regardless of other service closures.

Unwithdrawn USDT will be held separately, incurring a monthly fee equivalent to 5% of the recorded balance. Asset claims can be submitted until August 22, 2028.

CoinEx Wallet and CoinEx Vault will continue operating independently. The company warned users to remain vigilant about all information issued under its name going forward.