Cryptocurrency exchange CoinEx has announced it will cease operations after nearly nine years, citing declining trading volumes, deteriorating liquidity, and escalating regulatory costs. The platform will begin a phased wind-down on September 15, 2026, with a final withdrawal deadline of December 22, 2026.
Founder Cites Market Downturn and Regulatory Pressure
In an official announcement, CoinEx attributed the decision to a prolonged crypto market downturn, a significant drop in industry-wide trading volume and liquidity, and rising regulatory and compliance requirements across major markets. Founder Yang Haipo offered a more personal assessment, stating the exchange had weathered multiple bull and bear cycles but failed to achieve the industry-leading position he originally envisioned.
Yang also highlighted the growing difficulty of managing security and compliance risks. He wrote on X:
Dear CoinEx Community,Today, I am announcing that CoinEx will cease operations and begin an orderly wind-down.First, what matters most: your assets are safe. CoinEx’s reserve ratio exceeds 100%, and every user asset is fully backed and available for withdrawal. Withdrawals…
— Haipo Yang (@yhaiyang) September 15, 2026
In a separate statement, Yang explained the rationale behind rejecting a potential sale: “Carrying unlimited risk for limited revenue is no longer a rational choice.” He noted that users had entrusted assets to the platform and, in many cases, to him personally, leading to the decision to wind down operations while ensuring full asset withdrawals.
CoinEx Shutdown Timeline: Key Dates for Users
The exchange has published a detailed phased shutdown schedule:
- September 15, 2026: New user registrations and referral rewards end. Futures contracts move to “Reduce-Only” mode.
- September 22, 2026: Margin, Crypto Loans, Staking, Earn, and Futures services close. Most on-chain deposit addresses disabled, except CET deposits.
- September 29, 2026: All spot trading pairs close. CoinEx Smart Chain (CSC) and OneSwap shut down.
- December 22, 2026: Withdrawals close, marking the full shutdown of the exchange.
Urgent Withdrawal Warning and 5% Monthly Custody Fee
CoinEx emphasized that protecting user funds remains its top priority, confirming a reserve ratio above 100%. Withdrawals will remain open until December 22, 2026, even as other services cease.
The exchange strongly urged users to withdraw assets early, warning that network congestion, fees, or delays could impact transactions near the deadline. After December 22, any unclaimed USDT will be moved to independent custody and incur a 5% monthly custody fee based on the original balance. Users may submit custody claims until August 22, 2028.
CET Token Buyback at Fixed Rate
CoinEx will also close the chapter on its native CET token by repurchasing remaining CET held in user accounts at a fixed rate of 0.005 USDT per token. The exchange stated there will be no quantity limit or additional conditions for the repurchase.
Yang apologized to CET holders directly: “I am sorry that we were not able to create the long-term value we once hoped CET would deliver.”
ViaBTC, CoinEx Wallet, and CoinEx Vault Unaffected
The shutdown will not impact ViaBTC, which operates independently as a Bitcoin mining pool. CoinEx Wallet and CoinEx Vault will also continue operating separately from the exchange.
ViaBTC Pool Official Statement: Clarification on CoinEx’s Business Strategy Adjustment and the Continued Stability of ViaBTC Pool ServicesDear ViaBTC users and community partners,In response to CoinEx’s latest announcement regarding its strategic shutdown and the wind-down of…
— ViaBTC (@ViaBTC) September 15, 2026
