The Hong Kong-based crypto exchange CoinEx announced its decision to shut down all trading operations. The wind-down process begins on September 15, with a final closure date set for December 22, 2026. The company cited declining trading volumes, liquidity issues, and unsustainable compliance costs as the primary reasons for the closure.
The platform has established a phased shutdown schedule. Non-spot trading services, such as futures and margin products, will end on September 22, followed by the cessation of spot trading on September 29. After this date, the exchange will function solely as a withdrawal terminal until the December 22 deadline at 02:00 UTC.
CoinEx will repurchase its native token, CET, at a price of 0.005 USDT. Any USDT remaining on the platform after the final deadline will be moved to independent custody and subject to a 5% monthly fee. The exchange claims an asset reserve ratio exceeding 100%, ensuring that user funds remain fully backed for withdrawal.
The shutdown extends to the CoinEx Smart Chain and the decentralized exchange OneSwap. However, the ViaBTC mining pool, which shares corporate ties with CoinEx, will continue its independent operations. Previously, the exchange withdrew from the European Economic Area following the implementation of the MiCA regulatory framework.
