CoinEx Shuts Down Exchange Operations by December 22, 2026

CoinEx will shut down its exchange operations by December 22, 2026. The decision is due to weak crypto market conditions, falling liquidity, and rising regulatory costs.

The shutdown plan includes imposing a massive 5% monthly custody fee on any USDT left after the deadline, effectively draining user balances that aren't moved immediately.

CoinEx's partner, Marcel Knobloch, notes that the exchange's 100% reserve ratio couldn't save it from market death. Critics argue whether an exchange should be allowed to tax users' assets simply because they decided to close their doors, calling it a predatory final cash grab.