CoinEx Announces Full Shutdown by December 22

CoinEx, a cryptocurrency exchange operating for nine years, will cease all operations by December 22. New user registrations are halted immediately, and the platform will progressively wind down its services.

Timeline of Service Closures

• Tuesday: New registrations stopped; futures contracts moved to reduce‑only mode; fiat, margin, loans, Earn, staking and strategic trading stop accepting new orders.
• September 22: All non‑spot services end.
• September 29: Spot trading, CoinEx Smart Chain (CSC) and the OneSwap decentralized exchange close.
• December 22: Withdrawals remain available; all remaining balances must be withdrawn by this date.

Reason for Exit

CoinEx attributes the shutdown to a prolonged market downturn, shrinking industry trading volume and liquidity, and compliance costs that have exceeded reasonable limits.

Regulatory Background

The exchange exited the United States in 2023 after a settlement with the New York Attorney General, returning over $1.1 million to New York investors and paying more than $600,000 in state penalties. It was also barred from offering its platform in New York.

CET Token Repurchase

CoinEx will repurchase all remaining CoinEx Token (CET) at a price of 0.005 USDT per token, with no cap on quantity and no additional conditions. At the time of the announcement, CET was trading around 0.00466 USDT.

User Asset Handling

The exchange claims its reserve ratio exceeds 100 % and that all user balances are fully backed. Withdrawals stay open until December 22. Unwithdrawn USDT will be moved to independent custody and will incur a monthly fee of 5 % of the recorded balance. Claims regarding unwithdrawn assets can be filed until August 22, 2028.

Security Notice

CoinEx warned users to disregard any future communications claiming to be issued by the exchange, labeling such messages as fraudulent.