After almost a decade in operation, a cryptocurrency exchange is shutting down.
CoinEx, headquartered in the Seychelles, has announced an orderly wind-down process with full backing of all user assets.
Withdrawals have been open since September 15, 2026, and will continue until 02:00 UTC on December 22, 2026.
The platform was launched on December 22, 2017, and will officially cease operations exactly nine years later.
Founder and CEO Haipo Yang emphasized user protection in a public statement.
“Dear CoinEx Community, Today, I am announcing that CoinEx will cease operations and begin an orderly wind-down.”
He reassured users that reserves exceed 100% and all assets are available for withdrawal.
“CoinEx maintains an asset reserve ratio of over 100%. All user assets are fully backed and available to withdraw.”
The decision to close follows market downturns, reduced volumes, and increasing regulatory expenses.
Yang considered selling the platform but decided against it to ensure a smooth closure.
“I did not feel that handing the platform and that trust to a new owner was the right way to end this journey.”
CET tokens, the exchange’s utility token, will be bought back at the original price of 0.005 USDT with no limit. The current trading price of CET is $0.00049, a 97% drop from its peak of $0.15 in 2018.
Services will be phased out gradually throughout September, with wallets and vaults remaining unaffected.
After the deadline, a 5% monthly custody fee will be imposed until the claim cutoff date of August 22, 2028.
CoinEx’s closure comes after exiting the US market following a lawsuit filed by New York State Attorney General Letitia James in February 2023. The exchange settled the lawsuit for slightly over $1.7 million in June 2023.
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