CoinEx to Cease Operations After Nine Years of Volatile Markets

The exchange began restricting platform activity on September 15, halting new registrations and shifting futures markets into a reduce-only mode. By September 22, the platform plans to terminate all derivatives, margin trading, staking, and loan services. Spot trading is scheduled to follow on September 29, at which point any remaining unfilled orders will be canceled. While the exchange is shuttering its core trading operations, it clarified that its independent business units, CoinEx Wallet and CoinEx Vault, will continue to function globally under their existing terms.

Financial exit strategies for users are now underway. CoinEx has committed to a repurchase program for its platform token, CET, offering a rate of 0.005 USDT per token through September 29. Assets that lack external market liquidity will be converted to USDT, and users are encouraged to withdraw their holdings before the final December 22 cutoff. Any USDT left on the platform after this date will be moved to independent custody and subjected to a 5% monthly fee, with a final claims deadline set for August 22, 2028. Although the company maintains that its reserve ratio exceeds 100%, this exit marks the end of a tumultuous period for the exchange, which previously navigated a 2023 settlement with the New York Attorney General and a $70 million security breach linked by researchers to the Lazarus Group.