Key highlights:
- CoinEx will stop operating starting September 29.
- The exchange blamed the crypto bear market for the closure.
- Futures entered reduce-only mode on the announcement, with most other services ending by September 22.
Crypto exchange CoinEx is closing its operations after nearly nine years in the market, becoming the latest platform to exit the industry amid a trend of shutdowns. The company shared details of its orderly wind-down process, giving users time to move their funds off the platform.
— CoinEx Global (@coinexcom) September 15, 2026
Why CoinEx decided to shut down
In its official announcement, CoinEx highlighted various reasons for the decision. The company said it acted “after prudent evaluation, and in light of the prolonged downturn in the cryptocurrency market.”
They also added that the shrinking trading volume and liquidity, and operational uncertainties have exceeded “reasonable boundaries” for the company.
CoinEx founder Yang Haipo said the exchange had gone through previous crypto bull and bear markets but never became one of the industry’s top platforms, as he had once hoped it would.
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
“Carrying unlimited risk for limited revenue is no longer a rational choice,” Yang said. He added that he had considered selling the exchange instead of shutting it down, but then decided against it.
Yang said users had entrusted their assets to the platform, and in many cases to him personally. Hence, the team chose instead to wind the business down in a way that would let users withdraw their funds in full.
Before now, there has been a series of other closures. AscendEX shut down in July after failing to secure authorization under the European Union’s crypto regulations, and BitMEX is set to close later this month after an 11-year run.
Key dates users need to know
CoinEx has laid out a phased timeline for winding down its services. New user registrations and referral rewards stopped on Sept. 15. Additionally, futures contracts have also moved into “reduce-only” mode, which means traders can only reduce existing positions and not open new ones.
By Sept. 22, services like margin trading, crypto loans, staking, Earn products, and futures trading will close. Most on-chain deposit addresses will also be disabled that day, though deposits of CET, the exchange’s native token, will still be available a bit longer.
Spot trading pairs are scheduled to close entirely on Sept. 29, including CoinEx Smart Chain and the exchange’s decentralized trading platform, OneSwap. Any unfilled spot orders opened at that point will be automatically canceled. Withdrawals, however, will stay open till Dec. 22, 2026, which is the final cutoff before the exchange’s full shutdown.
CoinEx advised users not to wait until the last minute to withdraw their funds, warning that network congestion, fees, or delays could complicate transactions as the final deadline nears.
Once the withdrawal period ends, unclaimed USDT balances will be moved into independent custody and will be charged a monthly fee equal to 5% of the original balance. Users will still be able to file claims for those funds until Aug. 22, 2028.
What happens to CET token holders
CoinEx also addressed the fate of its native CET token. The exchange plans to buy back any CET left in user accounts at a fixed price of 0.005 USDT per token. There would be no cap on the quantity eligible for repurchase and no trading fees charged during the buyback window.
At the time of the announcement, CET was trading at around $0.004998, slightly below the repurchase price being offered.
CET token price chart
Notably, CoinEx said not all of its services will close. ViaBTC, which operates independently as a Bitcoin mining pool, will continue running as usual.
ViaBTC Pool Official Statement: Clarification on CoinEx’s Business Strategy Adjustment and the Continued Stability of ViaBTC Pool Services
Dear 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
The exchange, however, confirmed it will discontinue its withdrawal feature to CoinEx once the exchange’s on-chain deposit options close. CoinEx Wallet and CoinEx Vault will also keep operating.
Source:: CoinEx Shutdown After Nine Years of Operation: Here's What Users Need to Know