CoinEx Shuts Down Spot Trading Ahead of Platform Shutdown

CoinEx will cease spot trading on September 29 and shut down its platform in December due to declining market activity, rising compliance costs, and operational uncertainty. The exchange cited a prolonged cryptocurrency-market downturn, reduced industry trading volume and liquidity, increasing regulatory requirements, and costs that exceeded reasonable limits.

CoinEx began winding down operations on September 15, one day after publishing the cessation announcement. New registrations, referral payments, and rewards ended on the same date, while futures trading entered reduce-only mode.

The exchange will cancel unexecuted orders when spot trading ends and return the remaining liquidity to users' spot accounts. CoinEx will also sell non-USDT assets with external-market liquidity and convert the proceeds into USDT. Assets without external-market liquidity may be delisted, prompting users to withdraw those assets before the deadline.

CoinEx Smart Chain and OneSwap are scheduled to cease operations on September 29. The exchange claims user assets are fully backed, but this has not been independently verified. USDT remaining on the platform after withdrawals close will be transferred into independent custody.