Chinese cryptocurrency exchange CoinEx has announced an orderly wind-down of its operations after nine years in business. The decision follows a prolonged downturn in the crypto market, contracting trading volumes and liquidity, and rising compliance costs.
CoinEx, primarily operated from Hong Kong and Shenzhen under CEO Haipo Yang, stopped new user registrations on September 15, 2026. Futures trading moved to reduce-only mode the same day, non-spot services will cease on September 22, and spot trading will end on September 29.
Users can withdraw their assets until December 22, 2026, after which any unwithdrawn USDT will be transferred to independent custody with a monthly fee of 5% of the balance. CoinEx stated its asset reserve ratio remains above 100%, ensuring all user assets are fully backed and available for withdrawal in full.
The company emphasized that CoinEx Wallet and CoinEx Vault operate independently and will not be affected by the exchange’s closure. Users seeking additional details on service arrangements, asset settlement, and withdrawal procedures can access the full announcement through CoinEx’s official channels.
