A cryptocurrency exchange is closing its doors after nearly a decade in business.
CoinEx, which has its operating headquarters in the Seychelles, says it is entering an orderly wind-down with all user assets fully backed.
Withdrawals opened September 15, 2026, and remain available until 02:00 UTC on December 22, 2026.
The platform launched December 22, 2017, and will formally cease operations exactly nine years later.
Founder and CEO Haipo Yang is stressing user protection in a public statement.
“Dear CoinEx Community, Today, I am announcing that CoinEx will cease operations and begin an orderly wind-down.”
He adds that reserves exceed 100% with every asset available for withdrawal.
“CoinEx maintains an asset reserve ratio of over 100%. All user assets are fully backed and available to withdraw.”
The decision follows market downturns, declining volumes, and rising regulatory costs.
Yang considered selling but chose against it for a clean ending.
“I did not feel that handing the platform and that trust to a new owner was the right way to end this journey.”
CET tokens, the exchange’s utility token, will be repurchased at the initial 0.005 USDT price with no cap. CET is trading at $0.00049 at time of writing, down by around 97% since the all-time high of $0.15 reached in 2018.
Services phase out gradually through September with wallets and vault unaffected.
After the deadline a 5% monthly custody fee applies until the August 22, 2028, claim cutoff.
The collapse of CoiIn the wake of a lawsuit filed by New York State Attorney General (AG) Letitia James against CoinEx in February of 2023, the crypto exchange announced it was exiting the US market. CoinEx settled the lawsuit for a little over $1.7 million in June of 2023.nEx is coming a little over three years since the crypto exchange exited the US market.
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Featured Image: Shutterstock/Mia Stendal/Hoowy
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