CoinEx Shuts Down After 9 Years: Users Have Until December 22 to Withdraw Funds

CoinEx is shutting down its cryptocurrency exchange after nearly nine years in the market, citing falling trading volumes, weaker liquidity, and rising regulatory costs. The exchange will begin winding down services on September 15, 2026.

Meanwhile, users will have until December 22 to withdraw their assets before the platform formally closes.

CoinEx Cited Key Reason Behind Shutdown

In a recent announcement, CoinEx said its decision followed a prolonged crypto market downturn, a major drop in industry trading volume and liquidity, and rising regulatory and compliance requirements across major markets.

Founder Yang Haipo gave a more direct explanation. He said CoinEx had survived multiple crypto bull and bear markets but failed to become one of the industry’s leading exchanges, as he had once hoped.

At the same time, the security and compliance risks of running a crypto exchange became increasingly difficult to manage.

Yang said, “Carrying unlimited risk for limited revenue is no longer a rational choice.”

He said he considered selling CoinEx but ultimately rejected the idea because users had entrusted their assets to the platform and, in many cases, to him personally. Instead, he chose to wind down the exchange while ensuring users could withdraw their assets in full.