An exchange that has been in operation for nearly a decade is shutting its doors.
CoinEx is headquartered in Seychelles. says All user assets are fully backed up.
Withdrawals are available from September 15th, 2026 until December 22nd at 02:00 GMT.
This platform was launched on December 22, 2017 and it will cease formal operations nine years from now.
Haipo Yang’s public statements emphasize the need for user protection.
“Dear CoinEx Community, Today, I am announcing that CoinEx will cease operations and begin an orderly wind-down.”
He says that all assets available for withdrawal have reserves exceeding 100%.
“CoinEx maintains an asset reserve ratio of over 100%. All user assets are fully backed and available to withdraw.”
This decision was made in response to market declines, falling volumes and increasing regulatory costs.
Yang thought about selling, but chose not to do so for the sake of a good ending.
“I did not feel that handing the platform and that trust to a new owner was the right way to end this journey.”
The exchange utility token CET will be purchased at the original 0.005USDT price without any cap. CET has a current price of $0.00049, down 97% from the high of $0.15 in 2018.
Wallets and vaults will not be affected by the gradual phase-out of services through September.
The 5% custody fee will be charged every month until August 22, 2028.
Coi’s collapseIn February 2023, after a suit was filed against CoinEx by the New York State Attorney-General (AG), Letitia J. James, the crypto exchange declared that it would be closing. exiting CoinEx settled the lawsuit for a little over $1.7 million in June 2023. CoinEx settled for a small amount of $1.7 million back in June 2023.
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