Market TalkSharma29d ago
🚨 Crypto Exchange CoinEx to Shut Down After Nine Years, Withdrawals Open Until December 22
CoinEx is winding down its cryptocurrency exchange after nine years of operation, giving users until December 22, 2026 to withdraw their assets.
The exchange announced the shutdown on September 15, citing a prolonged crypto market downturn, declining industry trading volumes and liquidity, rising regulatory requirements and increasing compliance costs. CoinEx said those pressures had made continued operations increasingly difficult. ([CoinEx][1])
CoinEx has already stopped accepting new user registrations.
The exchange says most non-spot services will end by September 22, including services linked to margin trading, lending, staking and other products.
Then, on September 29, CoinEx plans to terminate all spot trading services.
Withdrawals will remain available until December 22, 2026, when the platform is scheduled to formally shut down. ([CoinEx][1])
CoinEx says its asset reserve ratio remains above 100% and that customer assets are fully backed and available for withdrawal during the wind-down period. ([CoinEx][1])
However, users who still hold assets on the platform after spot trading ends could see non-USDT balances converted as part of the closure process.
Funds remaining after the December 22 withdrawal deadline are expected to be transferred to an independent custody arrangement. According to The Block, that custody service will charge a monthly fee equal to 5% of the original balance, giving users a strong incentive to withdraw before the deadline. ([The Block][2])
CoinEx will also handle its native CET token as part of the shutdown.
Remaining CET held on the platform is scheduled to be repurchased at 0.005 USDT per CET on September 29, according to the exchange's closure plan. ([CoinEx][1])
CoinEx pointed to several pressures affecting the business:
• Lower crypto trading volumes
• Reduced market liquidity
• Increasing regulatory requirements across multiple jurisdictions
• Higher compliance costs
• Growing operational and security risks
Founder and CEO Haipo Yang said he had considered selling the exchange but ultimately decided to wind it down instead, saying his priority was allowing users to withdraw their assets and bringing the company's operations to an orderly conclusion. ([The Block][2])
CoinEx's closure comes during a difficult period for some mid-sized centralized crypto exchanges.
While major platforms continue to dominate global trading volume, smaller and mid-tier exchanges face increasing pressure from declining activity, higher regulatory costs and intense competition.
For users, the shutdown is also another reminder that assets held on centralized exchanges remain dependent on the continued operation of those platforms.
September 15: New registrations stopped
September 22: Most non-spot services and deposits end
September 29: Spot trading ends and remaining CET is repurchased
December 22: Withdrawal period ends and CoinEx shuts down
Users with assets on CoinEx should review the exchange's official shutdown announcement and complete withdrawals before the December deadline.
If you are using COINEX , please be aware and take note of it .
The exchange announced the shutdown on September 15, citing a prolonged crypto market downturn, declining industry trading volumes and liquidity, rising regulatory requirements and increasing compliance costs. CoinEx said those pressures had made continued operations increasingly difficult. ([CoinEx][1])
Shutdown Will Happen in Stages
CoinEx has already stopped accepting new user registrations.
The exchange says most non-spot services will end by September 22, including services linked to margin trading, lending, staking and other products.
Then, on September 29, CoinEx plans to terminate all spot trading services.
Withdrawals will remain available until December 22, 2026, when the platform is scheduled to formally shut down. ([CoinEx][1])
What Happens to User Funds?
CoinEx says its asset reserve ratio remains above 100% and that customer assets are fully backed and available for withdrawal during the wind-down period. ([CoinEx][1])
However, users who still hold assets on the platform after spot trading ends could see non-USDT balances converted as part of the closure process.
Funds remaining after the December 22 withdrawal deadline are expected to be transferred to an independent custody arrangement. According to The Block, that custody service will charge a monthly fee equal to 5% of the original balance, giving users a strong incentive to withdraw before the deadline. ([The Block][2])
CoinEx Token CET Will Be Repurchased
CoinEx will also handle its native CET token as part of the shutdown.
Remaining CET held on the platform is scheduled to be repurchased at 0.005 USDT per CET on September 29, according to the exchange's closure plan. ([CoinEx][1])
Why Is CoinEx Closing?
CoinEx pointed to several pressures affecting the business:
• Lower crypto trading volumes
• Reduced market liquidity
• Increasing regulatory requirements across multiple jurisdictions
• Higher compliance costs
• Growing operational and security risks
Founder and CEO Haipo Yang said he had considered selling the exchange but ultimately decided to wind it down instead, saying his priority was allowing users to withdraw their assets and bringing the company's operations to an orderly conclusion. ([The Block][2])
Another Sign of Pressure on Centralized Exchanges?
CoinEx's closure comes during a difficult period for some mid-sized centralized crypto exchanges.
While major platforms continue to dominate global trading volume, smaller and mid-tier exchanges face increasing pressure from declining activity, higher regulatory costs and intense competition.
For users, the shutdown is also another reminder that assets held on centralized exchanges remain dependent on the continued operation of those platforms.
Key Dates for CoinEx Users
September 15: New registrations stopped
September 22: Most non-spot services and deposits end
September 29: Spot trading ends and remaining CET is repurchased
December 22: Withdrawal period ends and CoinEx shuts down
Users with assets on CoinEx should review the exchange's official shutdown announcement and complete withdrawals before the December deadline.
If you are using COINEX , please be aware and take note of it .
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