CoinEx to Begin Shutting Down Its Platform

CoinEx will cease operations and begin an orderly wind-down, founder Haipo Yang announced on X on September 15, 2026, kicking off a CoinEx platform shutdown that pairs a phased service closure with a December withdrawal deadline.

What the CoinEx platform shutdown covers

The closure applies to the CoinEx exchange itself. Yang framed it as an “orderly wind-down” rather than an abrupt halt, and Reuters reports CoinEx will gradually cease services from September 15, 2026, while keeping withdrawals open until December 22, 2026. For related coverage, see Grove Basin: Instant Stablecoin Liquidity for Tokenized Treasuries.

The founder’s post is the primary source and doubles as the market-moving event. He states that user assets are fully backed and available, a claim that reflects his own assertion rather than an independently audited solvency check. For related coverage, see DeFi Bridge Hacker Turns $0.25 Into 46 Billion Fake BTC Tokens.

Dear CoinEx Community,

Today, I am announcing that CoinEx will cease operations and begin an orderly wind-down.

First, what matters most: your assets are safe. CoinEx’s reserve ratio exceeds 100%, and every user asset is fully backed and available for withdrawal. Withdrawals…

— Haipo Yang (@yhaiyang) September 15, 2026

Source: @yhaiyang on X

Platform and users affected

This is an exchange-wide wind-down of a platform Reuters says launched in 2017, not a single regional or product-specific closure. CoinEx has previously drawn scrutiny over its role as a gateway for Iran’s crypto economy, though the company denies commercial ties to Iranian government-linked entities.

Shutdown timeline and service changes

Coinpedia reports new registrations and referral rewards end September 15, 2026, with futures switching to Reduce-Only mode. Margin, Crypto Loans, Staking, Earn and Futures close September 22, and all spot pairs, CoinEx Smart Chain and OneSwap close September 29, 2026.

What the shutdown means for CoinEx users

Trading, deposits and account access

Per Coinpedia, most on-chain deposit addresses are being disabled, with CET deposits the exception. The staggered cutoffs mean trading access narrows first through Reduce-Only futures, then closes across margin and spot products before month-end.

Reuters cites prolonged weak crypto markets, shrinking trading volumes and liquidity, and rising security and compliance costs as the stated reasons. It attributes average daily bitcoin spot volume of about $2.2 billion in July and roughly $1.8 billion in August to ChainUp Investment, approximate secondary figures. Broad sentiment stayed firm, with the Fear & Greed Index at 69, in “Greed,” on September 15.

Withdrawals and official support

Withdrawals stay available until the December 22 cutoff. Coinpedia reports a repurchase of CET held in user accounts at 0.005 USDT per token, without a stated quantity limit, and that after December 22 unclaimed USDT moves to independent custody with a 5% monthly fee on the original balance, claimable until August 22, 2028.

The contractual 0.005 USDT buyback is distinct from CET’s live market quote. CET traded at $0.00499762, up 9.7% on the day, with 24-hour volume near $665,000, per CoinGecko. The snapshot is not evidence that the announcement drove the move.

CET price snapshot (USD)

$0.00499762

The token’s total market value sits around $12.20 million, a figure that reflects CET’s public float and does not measure CoinEx customer reserves or withdrawal capacity. The wind-down echoes other protocol exits this cycle, including Balancer’s move to wind down after a failed turnaround.

CET market capitalization (USD)

$12.20 million

What remains unconfirmed about the shutdown

The founder’s post and Reuters confirm the wind-down, the phased dates and the withdrawal deadline. The detailed service timetable, CET buyback and custody terms are attributed to Coinpedia because the full official notice was not readable; the issuer’s linked notice returned a 404. Exact cutoff times and time zones remain unverified.

No independently sourced, announcement-timed market reaction was obtained, so the CET move should not be read as caused by the news. Yang’s solvency assertion is his own; reserves and withdrawal execution were not independently tested. The broader tape has been choppy this year, with events such as Bitcoin’s slide toward $75,000 underscoring the weak-market backdrop CoinEx cited.

What to watch next: the September 22 closure of margin, loans, staking and futures, the September 29 shutdown of spot, CSC and OneSwap, and any authenticated issuer notice confirming buyback and custody mechanics before the December 22 withdrawal cutoff.

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.