CoinEx will cease exchange operations after nearly nine years. The cryptocurrency platform announced the shutdown on September 14, with withdrawals set to close on December 22, 2026.

The Hong Kong-based exchange, founded by ViaBTC founder Haipo Yang in December 2017, said a prolonged crypto market downturn, lower industry trading volume and liquidity, rising regulatory requirements, and increasing compliance costs had made continued operations unsustainable.

CoinEx said its asset reserve ratio remains above 100% and that user assets are fully backed and available for withdrawal. The exchange has advised users to withdraw their funds before the final deadline rather than wait until the last day.

CoinEx Shutdown Timeline

The exchange is closing its services in several stages rather than ending operations all at once.

Table 1. CoinEx’s phased shutdown schedule for users.

CoinEx will close Margin, Crypto Loans, Staking, Earn, and Futures services on September 22, with most deposit addresses disabled except for CET. CoinEx will discontinue all spot trading pairs, along with CoinEx Smart Chain (CSC) and OneSwap, on September 29. Withdrawals will remain available until December 22, when CoinEx will cease exchange operations.

5% Monthly Fee Applies to Unclaimed USDT After December 22

The most important date for CoinEx users is December 22, when withdrawal services are scheduled to end.

CoinEx said users should withdraw their assets early because blockchain congestion, network fees, and processing delays could affect transactions closer to the deadline. Assets that remain on the platform after earlier service cutoffs may also be handled differently depending on their liquidity.

For assets with external market liquidity, CoinEx said it may sell them through external venues and convert them into USDT. Assets without sufficient external liquidity may be delisted, with users encouraged to withdraw them in their original form before September 29.

After December 22, unclaimed USDT will be transferred to independent custody. A monthly custody fee equal to 5% of the original balance will apply, while users can submit claims until August 22, 2028.

CoinEx Will Buy Back CET at $0.005

CoinEx’s native token, CET, will also be handled as part of the shutdown. From September 15 through September 29, CoinEx will place buy orders for CET/USDT at $0.005 per token. 

The exchange said there will be no quantity limit and trading fees on the pair will be waived during the period. 

Any remaining CET in user accounts will be automatically repurchased at the same price when the redemption window closes. CoinEx will also discontinue CoinEx Smart Chain and OneSwap on September 29.

CoinEx Founder Explains Decision to Wind Down Exchange

CoinEx founder Haipo Yang said the exchange had operated through several crypto market cycles but did not reach his original goal of becoming one of the industry’s leading exchanges.

In a statement on X, Yang said security and compliance risks had become increasingly difficult to manage relative to the revenue the business generated. While he considered selling CoinEx, he ultimately decided against it, saying users had entrusted their assets to the platform and, in many cases, to him personally. “A clean ending is the right ending,” Yang wrote.

Yang said the decision would let CoinEx focus on letting users withdraw their assets in full and provide CET holders with a “clear and responsible conclusion.”

CoinEx’s closure does not affect ViaBTC’s mining operations. ViaBTC said it operates independently from CoinEx and that the shutdown will not affect its mining deposits, withdrawals, settlements, hashrate, or rewards.

Other Crypto Exchanges That Announced Closures in 2026

CoinEx is not the only major crypto exchange to announce a shutdown in 2026. BitMEX announced on July 23 that it would cease exchange operations on September 23, while BitMart announced its closure three days later on July 26.

Table 2. Major crypto exchanges that announced closures in 2026. 

The dates show that these exchanges announced their closures months before their final shutdown dates, giving users time to close positions and withdraw funds. BitMEX and BitMart also began reducing services before their final cessation dates. 

CoinEx Faced Regulatory Pressure Before the Shutdown

CoinEx had previously faced regulatory action in the United States. On June 15, 2023, New York Attorney General Letitia James announced a settlement requiring CoinEx to refund $1,172,971.50 to 4,691 New York investors and pay more than $600,000 in penalties. 

The action followed allegations that CoinEx operated without registering as a securities and commodities broker-dealer.

The agreement barred CoinEx from offering, selling, or purchasing securities and commodities in New York and prohibited the platform from being available in the state. 

CoinEx also announced that it would withdraw its platform and services from the United States, while the settlement required geoblocking for New York users and restricted services for U.S. customers.

CoinEx later continued serving users outside the United States. In its latest shutdown announcement, the exchange cited rising regulatory requirements across major jurisdictions and rising compliance costs as factors behind its decision to wind down operations.

What Comes Next

CoinEx users now have a defined window to move their assets before the exchange fully shuts down. Trading services will disappear well before the final withdrawal date, making September 29 an important deadline for users holding assets that may have limited external liquidity.

The December 22 deadline is the final date for normal withdrawals. Users who leave USDT on the platform beyond that point will face the separate custody process and associated monthly fee.

What This Means for You: If you still hold funds on CoinEx, the safest approach is to review your balances and withdrawal options early rather than wait for the December 22, 2026 withdrawal deadline. Assets with limited liquidity may require action before September 29.