CoinEx to close after 9 years, offers CET buyback at listing price

Cryptocurrency exchange CoinEx will officially close on December 22, 2026, exactly nine years after its launch. The company stated that all new account registrations have already been halted and spot trading on the platform will end on September 29. Users are required to withdraw their funds before the final closure date. Orderly wind-down and CET token buyback CoinEx founder and CEO Haipo Yang attributed the decision to ongoing market challenges and the increasing burden of regulatory and compliance requirements. Yang emphasized that operating a cryptocurrency exchange now involves heightened security and compliance risks, making continued operation unsustainable. Yang stated that he received offers to sell CoinEx but ultimately opted for what he called a “clean ending” for both users and employees, rather than transferring the business to another owner. This approach, according to Yang, is intended to preserve trust in the platform’s history and provide certainty for its token holders. Yang noted the difficulties of maintaining secure, compliant exchange operations, adding that the exchange’s closure was a strategic and voluntary decision. CoinEx’s wind-down is structured in phases. New signups and referral programs have stopped immediately. Non-spot services ended on September 22, while spot trading is scheduled to conclude on September 29. Withdrawals will remain available until December 22, 2026. The exchange will repurchase its CoinEx Token (CET) at the original listing price of 0.005 USDT from September 15 to September 29 without any restriction on the repurchase volume. After this period, remaining CET balances will be automatically converted at the same rate, offering an exit option to all CET holders. CoinEx has confirmed its reserve ratio remains above 100%, ensuring that all user assets are fully backed throughout the closure process. At the time of the announcement, daily trading volumes were in the tens of millions of dollars, which is significantly lower than the largest cryptocurrency exchanges worldwide. ServiceEnd DateNon-spot servicesSeptember 22, 2026Spot tradingSeptember 29, 2026WithdrawalsDecember 22, 2026Industry context and recent challenges CoinEx is joining several other exchanges ending their operations in 2026. Both BitMEX, a well-known derivatives trading platform, and BitMart, an established spot exchange, have announced their own closures this year after operating for 11 and nine years, respectively. Earlier this year, CoinEx came under scrutiny regarding its alleged connection to cryptocurrency flows involving Iran. Blockchain analytics firm TRM Labs reported that over seven years, more than $3.8 billion moved between CoinEx and numerous sanctioned Iranian platforms. CoinEx denied any wrongdoing in response to these allegations. Founded in 2017 by Haipo Yang, CoinEx grew to serve users worldwide, offering spot, futures, and token services. The scheduled closure marks a significant exit from the global market after nearly a decade in business.