Crypto Exchange CoinEx Is Shutting Down After Nine Years, Giving Users Until December to Cash Out

Cryptocurrency exchange CoinEx announced a scheduled wind-down that will culminate in a full shutdown on Dec. 22, 2026 — the ninth anniversary of the platform’s December 2017 launch. The company has already stopped new user sign-ups and referral rewards, and moved futures trading into reduce-only mode as part of the staged closure.

Founder and CEO Haipo Yang said the decision was driven by prolonged weakness in crypto markets and rising costs tied to compliance and security requirements. Yang said he considered selling the exchange but opted against a transfer of ownership, seeking what he described as a “clean ending” for employees, customers and token holders.

CoinEx has set a fixed timetable for services. Non-spot offerings ceased on Sept. 22, spot trading will end on Sept. 29, and users will have until Dec. 22 to withdraw funds. Holders of the exchange’s native CET token will be offered a buyback from Sept. 15 through Sept. 29 at the token’s original listing price of 0.005 USDT with no cap; any remaining CET balances will then be automatically converted at the same rate.

The company said its reserve ratio remains above 100%, indicating user assets are fully backed during the wind-down. At the time of the announcement, CoinEx’s reported 24-hour trading volume was in the tens of millions of dollars, substantially smaller than the largest global exchanges. The closure follows other 2026 exchange exits, including BitMEX and BitMart, and comes after allegations by TRM Labs that more than $3.8 billion flowed between CoinEx and sanctioned Iranian platforms over seven years — a claim the exchange denied.