The cryptocurrency exchange CoinEx has announced plans to cease all operations by December 22, 2026. This decision marks the end of the platform's nine-year history, which began in 2017. Founder and CEO Haipo Yang stated that the closure is a deliberate choice driven by prolonged market weakness and increasing compliance challenges.
The platform has already stopped new user registrations and referral rewards. Futures trading is currently restricted to reduce-only mode. Non-spot services were discontinued on September 22, and spot trading is scheduled to end on September 29. Users are required to withdraw their funds before the final December deadline.
CoinEx is implementing a buyback program for its native CET token. Between September 15 and September 29, the exchange will repurchase tokens at the original listing price of 0.005 USDT with no volume caps. Any remaining balances will be automatically converted at the same rate. The company reports a reserve ratio exceeding 100 percent.
The closure follows recent industry trends, with platforms like BitMEX and BitMart also announcing shutdowns in 2026. CoinEx previously faced scrutiny regarding allegations from TRM Labs in June, which claimed that $3,8 billion in crypto assets flowed between the exchange and sanctioned Iranian platforms over seven years. The company denied these allegations.
