Crypto exchange CoinEx is shutting down after nearly nine years of operations.The exchange announced the decision on September 15 and has begun an orderly wind-down of its services.
CoinEx said the prolonged downturn in the crypto market has reduced trading activity and liquidity across the industry, while the cost of meeting regulatory requirements in key markets has continued to increase.
CoinEx will end trading this month
The shutdown will happen in stages. CoinEx plans to terminate its non-spot trading services on September 22. On the same date, the exchange will stop accepting most on-chain deposits, with CET deposits remaining available until September 29.
Spot trading will end on September 29, after which users will no longer be able to trade assets on the platform.
The exchange will then continue processing withdrawals until December 22, 2026, when CoinEx plans to cease its remaining services.
Users have therefore been given several months to move their assets away from the platform.
CoinEx says user assets remain backed
CoinEx said its asset reserve ratio remains above 100%, meaning the exchange claims to hold sufficient assets to cover user balances.
The company has instructed users to withdraw their funds before the final deadline.
CoinEx’s native CET token will also be handled as part of the shutdown. The exchange plans to repurchase remaining CET at 0.005 USDT as it winds down the platform.
Users who leave assets on the exchange after the final withdrawal deadline could face additional restrictions under the platform’s shutdown procedures.
Why CoinEx is closing
CoinEx attributed the decision to several pressures that have affected crypto exchanges.
The company pointed to a prolonged market downturn, shrinking trading volumes and liquidity, as well as increasingly demanding regulatory and compliance requirements.
These costs have become harder to justify as trading activity declines, according to the exchange.
The decision highlights the financial pressure facing exchanges that need to maintain infrastructure, security and regulatory operations while competing for a smaller pool of trading activity.
A nine-year run comes to an end
CoinEx was founded in 2017 and became part of the wider ViaBTC ecosystem.Over the years, it expanded into spot and derivatives trading and other crypto services, building a global user base.
Its shutdown now adds to a series of crypto platforms reducing or ending operations as competition, regulatory requirements and market conditions reshape the industry. For CoinEx users, the immediate priority is the December 22 withdrawal deadline. The exchange is expected to continue the wind-down process until then, with trading services ending much earlier on September 29.
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