CoinEx has begun an orderly wind-down that will culminate in the cryptocurrency exchange shutting down on December 22, 2026. The platform stopped accepting new registrations on September 15 and will progressively close trading and other services before ending withdrawals at 02:00 UTC on December 22. CoinEx cited prolonged weakness in crypto markets, shrinking industry trading volumes and liquidity, rising regulatory requirements and escalating compliance costs as reasons for the decision.
According to CoinEx’s official shutdown announcement, the exchange says its reserve ratio remains above 100% and that all customer assets are fully backed and available for withdrawal. CoinEx has urged users to remove assets before the final deadline rather than waiting until the closing days, when blockchain congestion, changing fees or processing delays could complicate withdrawals.
CoinEx Sets September Deadlines for Trading Services
The first stage took effect September 15. Futures contracts entered reduce-only mode, while CoinEx stopped new subscriptions or orders for fiat services, margin trading, loans, Earn, staking and strategic trading. Referral commissions and other rewards also ended alongside new user registrations.
The next major deadline is September 22, when all non-spot services are scheduled to cease and most on-chain deposits will close. Spot trading is then scheduled to end on September 29, after which CoinEx will begin processing non-USDT assets that users have not withdrawn. CET deposits are expected to remain available until that date, while CoinEx Smart Chain and OneSwap are also scheduled to cease operations.
CoinEx has established a separate exit mechanism for its native CET token. Any CET remaining in customer accounts at the end of the repurchase window will be bought back at 0.005 USDT per CET, with no quantity limit or additional conditions under the announced arrangement. Liquid non-USDT assets remaining after spot trading closes may be processed into USDT, making September 29 an important deadline for users who prefer to withdraw assets in their original form.
Unwithdrawn USDT Faces 5% Monthly Custody Fee
Normal withdrawals will remain available until December 22 at 02:00 UTC. USDT left on CoinEx after the withdrawal window closes will be transferred into independent custody and incur a monthly fee equal to 5% of the original balance recorded at the deadline. Customers will be able to submit custody claims until August 22, 2028. CoinEx Wallet and CoinEx Vault are separate products and are not included in the exchange wind-down.
The closure comes after CoinEx previously encountered regulatory restrictions in the United States. In 2023, the New York Attorney General reached a settlement with CoinEx requiring more than $1.1 million in refunds to New York investors and more than $600,000 in penalties. The agreement also prohibited CoinEx from making its platform available in New York after authorities alleged it operated without the required registration.
CoinEx’s closure is taking place against a weaker trading backdrop. Reuters reported that average daily Bitcoin spot volume fell from roughly $2.2 billion in July to $1.8 billion in August, near a three-year low. For CoinEx users, however, the immediate issue is operational rather than market-wide: September 29 is the critical deadline for spot trading and asset processing, while December 22 is the final normal withdrawal deadline.
