CoinEX Shuts Down After 9 Years: The Timeline and Causes

CoinEx is shutting down after nearly nine years in the cryptocurrency market, marking the end of one of the industry's longer-running global exchanges. 

The Hong Kong-based platform announced on 15 September 2026 that it would begin an orderly wind-down of its operations, citing a prolonged market downturn, falling trading volumes and liquidity, and rising regulatory and compliance costs. 

Most trading services will disappear by the end of September, while withdrawals will remain available until 22 December 2026.

Key Takeaways

• CoinEx is shutting down: The exchange will complete its wind-down on 22 December 2026, almost nine years after launching.

• Trading ends in September: Non-spot services stop on 22 September, followed by spot trading on 29 September.

• Users should withdraw funds early: The final withdrawal deadline is 22 December, after which remaining USDT may incur a 5% monthly custody fee.

CoinEx Shutdown Timeline: From September to December 2026

According to WatcherGuru X, CoinEx has chosen a phased shutdown rather than an immediate closure. This gives users time to close positions, move their assets and complete withdrawals before the platform finally ceases operations.

15 September 2026: Shutdown Begins

The first stage starts on 15 September. New user registrations and referral rewards are discontinued. Futures trading also moves into reduce-only mode, meaning traders can close existing positions but cannot open new ones.

This date represents the formal beginning of the wind-down process.

22 September 2026: Non-Spot Services End

One week later, CoinEx will terminate its non-spot services. This includes futures trading as well as products such as staking, lending and other related services.

For users holding assets through these products, the deadline is therefore much earlier than the final December closure.

29 September 2026: Spot Trading Stops

Spot trading will cease on 29 September. CoinEx will also shut down the CoinEx Smart Chain (CSC) and decentralised exchange OneSwap as part of the broader wind-down.

After this point, the platform effectively transitions from a trading venue into a withdrawal-only service.

22 December 2026: Final Closure

The final and most important date for users is 22 December 2026. On this day, the withdrawal window closes and CoinEx will cease operations.

Users are therefore strongly encouraged to move their assets before the deadline rather than waiting until the final day. Recent reports confirm that withdrawals are expected to remain available during the wind-down period.

CoinEx has also warned that communications claiming to represent the exchange after its final official announcement should be treated carefully, particularly because shutdown periods can create opportunities for impersonation and phishing scams.

Read Also: Crypto Exchange Shutting Down? How to Protect Your Funds

Why Is CoinEx Shutting Down?

source by AI

CoinEx has pointed to several factors rather than one specific event. The decision reflects the increasingly difficult economics of operating a global cryptocurrency exchange.

Prolonged Market Pressure

The cryptocurrency market has experienced periods of strong growth, but exchanges cannot rely only on rising asset prices. Their business models depend heavily on trading activity, liquidity and user participation.

CoinEx said the prolonged market downturn reduced profitability and limited its growth prospects. At the same time, lower industry-wide trading volumes made it harder for exchanges to maintain the same scale of operations.

Falling Trading Volume and Liquidity

Liquidity is particularly important for a cryptocurrency exchange because traders need sufficient market depth to execute orders efficiently.

When trading volume falls, exchanges can face lower fee revenue while still having to maintain infrastructure, security systems, customer support and other operational functions.

CoinEx's decision therefore highlights an important reality: even an established exchange can become difficult to operate if trading activity and liquidity decline significantly. Recent reporting has identified shrinking volume and liquidity as two of the central reasons behind the shutdown.

Rising Regulatory and Compliance Costs

Regulation appears to be another major factor.

CoinEx has faced regulatory challenges in several markets. In June 2023, New York Attorney General Letitia James announced that the state had recovered more than $1.7 million from CoinEx over its failure to register as a securities and commodities broker-dealer. CoinEx was required to stop operating in the United States, while eligible New York investors were entitled to refunds.

More recently, CoinEx announced in June 2026 that it would discontinue services in the European Economic Area as MiCA became fully enforced. The exchange said EEA services would end by 1 July 2026, while withdrawals remained available to affected users.

These developments illustrate how compliance requirements can create significant costs and operational complexity for global exchanges.

CoinEx ultimately described the regulatory and compliance burden as having exceeded reasonable boundaries, while founder Yang Haipo acknowledged the difficult realities of operating a cryptocurrency exchange.

Read Also: BitMart Is Shutting Down: What's Going On?

What Happens to CoinEx Users and CET Tokens?

source by AI

For existing users, the most important question is whether their assets can be recovered.

CoinEx has stated that its reserves exceed 100%, meaning it claims that user balances are fully backed and available for withdrawal during the wind-down period. 

Nevertheless, users should not interpret this as a reason to wait until December. Moving assets before the final deadline can reduce the risk of technical problems, network congestion or confusion during the final stages.

The CET token, CoinEx's native token, will also be affected. According to the shutdown information, CET held by users will be repurchased at 0.005 USDT per CET as part of the closure process.

What About Unwithdrawn USDT?

Users who fail to withdraw USDT before the 22 December deadline face an additional consideration. CoinEx has stated that remaining USDT will be transferred to independent custody and subject to a 5% monthly custody fee based on the original balance.

Custody claims may reportedly still be submitted until 22 August 2028, but users should not rely on this extended claim period when they can withdraw their assets before the exchange closes.

The safest approach for CoinEx users is to review their balances, close or settle positions, withdraw available assets and verify transaction records well before the final deadline.

Read Also: Harmony May Shut Down: What ONE Holders Should

Conclusion

The CoinEx shutdown shows how quickly the cryptocurrency exchange landscape can change. After almost nine years, the platform is ending operations because of a combination of weaker market activity, declining liquidity and increasingly demanding regulatory and compliance requirements. 

For users, the key priority is understanding the shutdown schedule and withdrawing assets before 22 December 2026. 

As the market continues to evolve, choosing an exchange with strong security, liquidity and a transparent operating model remains essential. 

Traders can also explore Bitrue for easier and safer crypto trading, with a broad selection of digital assets and trading opportunities in one platform.

FAQ

Why is CoinEx shutting down?

CoinEx says it is closing because of a prolonged market downturn, shrinking trading volume and liquidity, and rising regulatory and compliance costs.

When will CoinEx completely shut down?

CoinEx's final closure is scheduled for 22 December 2026, when the withdrawal window will also end.

When will CoinEx stop spot trading?

Spot trading is scheduled to stop on 29 September 2026. Non-spot services, including futures, staking and lending, are scheduled to end earlier on 22 September.

What happens to CET tokens?

CoinEx has stated that CET held by users will be repurchased at 0.005 USDT per CET as part of the shutdown process.

What should CoinEx users do before the closure?

Users should review their balances, close any open positions, withdraw their assets and keep transaction records. It is advisable to complete withdrawals well before 22 December 2026 rather than waiting until the final deadline.

Disclaimer: The views expressed belong exclusively to the author and do not reflect the views of this platform. This platform and its affiliates disclaim any responsibility for the accuracy or suitability of the information provided. It is for informational purposes only and not intended as financial or investment advice.