Hong Kong-based exchange CoinEx has announced it will wind down operations entirely, closing on December 22, 2026 — nine years to the day after it first launched in 2017. Founder and CEO Haipo Yang said he turned down a sale offer in favor of what he called a "clean ending," citing a prolonged crypto market downturn, shrinking trading volumes and liquidity, and compliance costs that have risen beyond a workable range.
The shutdown is happening in stages rather than all at once:
CoinEx Smart Chain and its decentralized exchange, OneSwap, will also be shut down as part of the closure. The exchange said it will buy back its native CET token from holders at its original listing price of 0.005 USDT, with no cap on the buyback.
CoinEx joins a lengthening list of 2026 exchange exits, including derivatives pioneer BitMEX (closing September 23 after 11 years) and BitMart (fully closing by January 2027). Industry watchers note that close to 100 crypto exchanges, DeFi platforms, and NFT marketplaces have shut down in 2026 alone, squeezed by thin volumes and rising regulatory costs. CoinEx had also faced separate scrutiny earlier this year over alleged links to Iran-connected transaction flows, which the exchange denied.
What users should do: Withdraw or convert any CoinEx holdings well ahead of the September 29 spot-trading cutoff, and no later than the December 22 final deadline.
Sources: Decrypt, Finance Magnates, Outlook Money, Wikipedia
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