CoinEx to Shut Down After Nine Years, Citing Security and Compliance Risks

Hong Kong‑based cryptocurrency exchange CoinEx announced it will cease operations after nine years in business. Founder and CEO Haipo Yang explained that increasing security and compliance risks made continued operation untenable.

Reason for Closure

Yang cited mounting security concerns and regulatory compliance pressures as the primary drivers behind the decision. He emphasized that these challenges could not be adequately addressed within the existing business framework.

Decision Against Sale

Despite interest in a potential sale, Yang rejected the option, stating a preference for a “clean ending” rather than transferring the business under uncertain conditions.

Impact on Users

The exchange will initiate a wind‑down process, during which users are expected to withdraw their assets. Specific timelines and procedures were not detailed in the announcement.