📰 CoinEx, which has operated for nearly 9 years, announced that it will cease exchange operations. The reasons given by the platform are very straightforward: the market has been sluggish for a long time, trading volume and liquidity have shrunk, and regulatory and compliance costs have already exceeded what it can reasonably bear.
🔥 The shutdown schedule is fast. Starting September 15, new registrations will stop; derivatives contracts can only be reduced/closed. On September 22, all non-spot services will be shut down. On September 29, spot trading will be closed as well; CSC and OneSwap will also be taken offline in sync. If you want to withdraw assets in the original coins, you must process them before 02:00 (UTC) on September 29.
⚠️ After that, coins that have external liquidity will be sold in batches and converted into USDT. Assets without external liquidity may see wallet maintenance stop. The final withdrawal deadline is 02:00 (UTC) on December 22; any overdue balances will be moved to independent custody and a 5% custody fee will be charged each month.
💡 CET handling has also been set: the platform will place buyback orders for CET at 0.005 USDT per coin from September 15 to 29. After the 29th, any remaining CET in accounts will be automatically converted to USDT, with no other redemption arrangements. CoinEx Wallet and CoinEx Vault are not included in this shutdown.
To be honest, after going through the 2023 incident where hot wallet private keys were stolen and losses of about $70 million were incurred, CoinEx was ultimately squeezed out by the combined pressure of security investment, liquidity needs, and compliance costs. The announcement also emphasizes that this is the final official notice; any subsequent so-called “supplementary rules” will be treated as fraud.
🤔 Do you still have assets on CoinEx? Are you planning to withdraw directly, or first convert small coins into USDT?
#CoinEx #CET #交易所停运 #asset safety