CoinEx has announced that it will cease exchange operations after nine years, citing prolonged weakness in trading activity, declining liquidity and rising regulatory and compliance costs.
The official shutdown notice says new registrations stopped on September 15. Non-spot trading services are scheduled to close on September 22.
Spot trading, CoinEx Smart Chain services and OneSwap are scheduled to stop on September 29 at 02:00 UTC. Users are instructed to cancel open orders and withdraw original assets before that deadline.
CoinEx says normal withdrawal services will continue until December 22 at 02:00 UTC. Assets remaining after that date will reportedly be converted into USDT and placed with an independent custodian.
The planned custody arrangement carries a material cost. CoinEx says balances remaining after the withdrawal period will incur a monthly management fee equal to 5% of the original USDT balance, not 5% of the declining balance.
Users would have until August 22, 2028, to claim custody balances. The exchange warns that claims submitted after the deadline will no longer be processed.
CoinEx Wallet and CoinEx Vault are described as unaffected. Users should nevertheless obtain instructions directly from the verified CoinEx domain and reject unsolicited “withdrawal assistance,” recovery messages or seed-phrase requests.
TOKEN RECON ASSESSMENT
The key intelligence is not simply that an exchange is closing. It is the rapidly escalating cost and operational risk facing customers who fail to withdraw on time.
Users should prioritize original-asset withdrawals before September 29 rather than relying on later conversion and custody processes.
Watch whether all withdrawals remain operational, whether exchanges delist CoinEx-related assets, how the independent custody arrangement is documented and whether regulators issue additional notices.
Sources
CoinEx. Official orderly cessation notice and withdrawal schedule
The Wall Street Journal. CoinEx closes following extended regulatory scrutiny
