CoinEx Exchange to Cease Operations After Nine Years, Withdrawal Deadline Set

CoinEx, a cryptocurrency exchange operating from the Seychelles, has announced it will cease operations after nearly nine years in business. The platform, which launched on December 22, 2017, will begin an orderly wind-down, with all user assets fully backed.

Withdrawals opened on September 15, 2026, and will remain available until 02:00 UTC on December 22, 2026. Founder and CEO Haipo Yang emphasized user protection in a public statement, confirming that reserves exceed 100% and all assets are available for withdrawal.

The decision to close comes in the wake of market downturns, declining trading volumes, and increasing regulatory costs. Yang considered selling the platform but ultimately decided against it, stating that it was not the right way to conclude the journey.

In addition, the exchange's utility token, CET, will be repurchased at its initial price of 0.005 USDT, despite its current trading value being significantly lower. Services will gradually phase out through September, with wallets and vaults remaining unaffected during this period. After the withdrawal deadline, a 5% monthly custody fee will apply until the claim cutoff on August 22, 2028.

This closure follows CoinEx's exit from the U.S. market after a lawsuit filed by New York State Attorney General Letitia James in February 2023, which the exchange settled for approximately $1.7 million in June 2023.