Overview
- CoinEx announced the staged wind-down on Tuesday, Sept. 15, and has already halted new registrations while moving futures to reduce-only and scheduling spot trading to end on Sept. 29.
- The exchange says reserves exceed 100% and that users can withdraw assets in full until the final deadline of Dec. 22, 2026.
- From Sept. 15 through Sept. 29 CoinEx will buy back its CET token at a fixed price of 0.005 USDT per token and will automatically convert any remaining CET at that same rate after the window closes.
- Any USDT left on the platform after Dec. 22 will be transferred to an independent custodian that will charge a monthly custody fee equal to 5% of the recorded balance and accept claims through Aug. 22, 2028.
- The shutdown follows prior regulatory and security strains on CoinEx, including a 2023 settlement with the New York attorney general, a 2023 hot-wallet breach, and mid-2026 scrutiny over Iran-linked transaction flows, and it reflects a wider 2026 trend of smaller exchanges exiting as trading concentrates at a few large venues.