Cryptocurrency trading platform CoinEx is shutting down after nearly a decade in business, citing a long stretch of weak market conditions that made continued operations unsustainable.
The company, which went live on December 22, 2017, said it reached the decision after reviewing the industry’s reduced trading activity, thinner liquidity, and steadily rising compliance burdens across major markets.
Officials described those costs and uncertainties as having moved beyond a workable range, prompting an orderly exit rather than a sale or prolonged struggle to stay open.
The wind-down began on September 15, 2026.
From that date, CoinEx stopped accepting new accounts and ended referral payouts and other rewards.
Futures trading shifted to reduce-only mode, meaning traders could close existing positions but could not open new ones.
The platform also halted new activity in fiat services, margin trading, loans, earn products, staking, and strategy tools.
A week later, on September 22, remaining non-spot products are scheduled to stop.
On-chain deposits will close as well, aside from a short remaining window for CoinEx Token (CET) deposits through September 29.
Any futures contracts still open at that point are expected to be settled using index prices.
Spot trading is set to end on September 29. On the same day, leftover CET in user accounts will be bought back at a fixed rate of 0.005 USDT per token. CoinEx Smart Chain and the OneSwap platform will also go offline. N
on-USDT balances that have not been withdrawn by then may be converted.
Users have until 02:00 UTC on December 22, 2026, to withdraw funds.
CoinEx said its reserve ratio remains above 100 percent and that customer assets are fully backed.
After the deadline, leftover USDT is slated to move into independent custody, with a monthly fee equal to 5 percent of the original balance.
Claims on remaining assets may still be possible into 2028.
The company stressed that this announcement is its final official notice under the CoinEx name and warned that any later statements using the brand should be treated as fraudulent.
Related products such as CoinEx Wallet and CoinEx Vault were described as separate businesses that will continue operating.
Founder Haipo Yang said the platform never reached the top tier of global exchanges and that the security and regulatory risks of running a centralized venue had become harder to manage.
He considered selling the business but chose a clean close instead, noting that the shutdown date matches the anniversary of the exchange’s launch.
The exit adds to a difficult stretch for mid-sized crypto venues as trading activity remains subdued and licensing costs climb. For remaining customers, the immediate task is straightforward: move assets off the platform before the December cutoff.