😵 Crypto exchange CoinEx to shut down in December

😵 Crypto exchange CoinEx to shut down in December

The CoinEx Wallet and CoinEx Vault services will continue operating.

😬 The phased shutdown process will begin on September 15, 2026, with the suspension of new-user registrations and subscription acceptance. The final shutdown is scheduled for December 22, when the withdrawal period ends. CoinExwill buy back CET at a price of 0.005 USDT.

‼️ In its official announcement, the exchange warns that all additional information will be published only on its website and verified social media channels. In addition, CoinEx reminds customers that it will never request their keys, passwords or verification codes, nor ask them to transfer assets to any address.

😬 Among the reasons for the shutdown, CoinEx cites the prolonged downturn in the cryptocurrency market, a decline in overall trading volume and liquidity, and rising compliance costs.

🔹 According to CoinGecko, trading volume over the past 24 hours was approximately 752 BTC, equivalent to around USD 58 million, while the platform's trust score stood at 7 out of 10.

🔹 Regulatory authorities had previously restricted the platform's scope of activity. In June 2023, following an order from the New York attorney general, CoinEx was ordered to pay a fine of USD 1.7 million.

😬 CoinEx founder and CEO Haipo Yang acknowledged that the platform had failed to become one of the industry's leaders. He also stated that he had rejected an offer to sell CoinEx because he did not want to betray the trust of its customers.

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