CoinEx Exchange Shuts Down Amid Declining Volumes and Regulatory Costs

CoinEx, a Seychelles-based cryptocurrency exchange that launched nearly nine years ago, announced it will shut down its trading operations by December 22, 2026. The platform cited declining trading volumes, weaker liquidity, and rising regulatory costs as the reasons for the closure.

The shutdown is not an abrupt collapse but rather a phased process that began on September 15, 2026. New registrations and referral rewards ended, and futures contracts moved into reduce-only mode. The company will continue to wind down services in stages until December 22, 2026, when withdrawals close entirely.

CoinEx founder Yang Haipo acknowledged the exchange's failure to become one of the industry's leading exchanges despite serving users across over 200 countries and regions. He stated that carrying unlimited risk for limited revenue is no longer a rational choice. The company will buy back remaining CET tokens at 0.005 USDT each, with no quantity limit.

CoinEx emphasized that its reserve ratio exceeds 100%, ensuring every user asset remains fully backed throughout the shutdown process. Unclaimed USDT after December 22, 2026, will be moved to independent custody and charged a 5% monthly fee until August 22, 2028.