Cryptocurrency exchange CoinEx announced Tuesday it will cease operations and close on December 22, 2026—nine years to the day after launching in 2017. Users have until that deadline to withdraw their funds.
Founder and CEO Haipo Yang cited prolonged market weakness and mounting compliance demands as reasons for the closure. "The security and compliance risks of running a crypto exchange have become increasingly difficult to contain," Yang said, characterizing the decision as a deliberate exit rather than a forced one.
Yang stated he considered selling the exchange but chose against it, preferring what he called a "clean ending" for staff, users, and token holders rather than transferring ownership to a new operator.
Wind-Down Schedule
The closure follows a fixed timeline. New account registrations and referral rewards stopped immediately upon announcement, while futures trading entered reduce-only mode. Non-spot services shut down September 22, spot trading ends September 29, and final withdrawals close December 22.
CoinEx will repurchase its native token, CET, at its original listing price of 0.005 USDT from September 15 through September 29, with no volume cap. Any remaining balances will be automatically converted at the same rate.
The exchange reported a reserve ratio above 100%, indicating user assets remain fully backed throughout the wind-down process.
Part of Broader Trend
CoinEx joins other major exchanges closing in 2026. BitMEX announced it would shut down after 11 years, and BitMart followed with plans to end its nine-year operation.
The closure comes months after CoinEx faced separate scrutiny over alleged ties to Iran. In June, TRM Labs alleged that more than $3.8 billion had flowed between CoinEx and dozens of sanctioned Iranian platforms over seven years—a claim the exchange denied.
