- CoinEx plans to close after nearly nine years, citing weaker trading activity and rising compliance costs.
- Spot trading ends September 29, while users have until December 22 to withdraw their assets.
- Unclaimed USDT moves into independent custody, charging 5% of the original balance monthly.
CoinEx announced a phased shutdown after nearly nine years, citing declining trading volumes, weaker liquidity and rising compliance costs. New registrations end September 15, 2026, while withdrawals stay available until December 22.
Founder and CEO Haipo Yang said security and regulatory risks had become harder to manage. He considered selling the exchange but chose to wind down operations instead.
CoinEx Sets Trading Closures Before Withdrawal Deadline
According to CoinEx’s announcement, the shutdown begins with an end to registrations and referral rewards. Futures contracts enter reduce-only mode, allowing traders to reduce existing exposure.
Margin, lending, staking, Earn and futures services close September 22. Most blockchain deposit addresses will also stop accepting deposits, with an exception for CET.
CoinEx will halt all spot trading on September 29. Its announcement also schedules the closure of CoinEx Smart Chain and OneSwap for that date.
Assets left after September 29 may be converted into USDT. Users can withdraw until December 22, when the exchange plans to close its platform.
Yang said his priority was allowing users to withdraw their assets in full. The exchange urged customers to act early, citing possible network congestion, transaction fees and processing delays near the deadline.
Unclaimed Balances Face Monthly Fees Under Custody Plan
CoinEx says unclaimed USDT will move to independent custody after December 22. The custodian will charge a monthly fee equal to 5% of the original balance.
That calculation differs from charging 5% against a progressively smaller balance. Users will have until August 22, 2028, to submit custody claims.
The exchange also plans to repurchase CET held in user accounts at 0.005 USDT per token. It announced no quantity limit or additional conditions for that repurchase.
Yang acknowledged that the token had not delivered the long-term value he envisioned. He said preserving an orderly exit outweighed pursuing a sale of the business.
CoinEx Wallet and CoinEx Vault will continue operating separately, according to the announcement. ViaBTC, the independently operated Bitcoin mining pool, will also continue its services.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
