CoinEx begins orderly wind-down as spot trading ends September 29 and withdrawals close December 22
By 8bitcrypto
September 17, 2026
Hong Kong–based crypto exchange CoinEx published an official notice on September 15 that it will cease operations through an orderly wind-down, citing a prolonged market downturn, contracted trading volume and liquidity, and compliance costs that “exceeded reasonable boundaries.” Reuters separately reported the shutdown the same day. For Marketplace Watch readers who still route spot inventory or bid currency through mid-tier venues, the actionable file is the calendar—not the nostalgia: service gates close on staged dates through December 22, 2026.
Per CoinEx’s announcement table, September 15 already stopped new registrations, referral rebates, and new subscriptions for fiat, margin, loans, Earn, staking, and strategic trading, while futures entered Reduce-Only mode. September 22 ends remaining non-spot services and stops on-chain deposits except CET deposits, which stay available until September 29. On September 29, all spot trading ceases; non-USDT assets are processed under CoinEx’s disposal rules; remaining CET is auto-repurchased at 0.005 USDT per CET; and CoinEx Smart Chain plus OneSwap shut down. Withdrawals remain open until 02:00 UTC on December 22, 2026, when the platform ceases operations.
Two withdrawal clocks matter for collectors who still hold balances there. CoinEx says users who want non-USDT assets out in original form must finish those steps before 02:00 UTC on September 29. After the December cutoff, the announcement’s custody path for leftover USDT is the exchange’s post-closure process—including fee language in the notice that readers should verify on the live page before assuming free long-term storage. Reuters reported CoinEx’s claim that customer assets remain fully backed with an asset-reserve ratio above 100%; that is a company assertion, not an independent audit published in the Reuters write-up.
Founder Haipo Yang, quoted by Reuters from an X post, said CoinEx “did not become one of the industry’s leading exchanges” and that security and compliance risks of running a crypto exchange had become “increasingly difficult to contain,” while claiming “millions” of users without a precise figure. Reuters also noted a June TRM Labs report naming CoinEx as a large counterparty to Iranian exchange Nobitex amid U.S. sanctions pressure; CoinEx previously denied commercial relationships with Iranian government-linked entities or domestic Iranian exchanges and said it stopped onboarding Iranian users after sanctions. Attribute those threads carefully: they are context around the wind-down narrative, not a substitute for the published service calendar.
NFT desks should treat CoinEx primarily as a spot-funding and off-ramp venue story: if you still keep USDT or alt inventory there to seed OpenSea or Magic Eden bids, the September 29 and December 22 gates are the operational deadlines that matter more than any single floor candle.
Yang’s framing, as carried by Reuters, pairs weak industry volume with rising security and compliance burden—the same pressure narrative other mid-tier venues have used when choosing exit over indefinite expansion. Readers should still verify live CoinEx status pages for any schedule amendments after this note.
What Thursday’s file proves is narrow. CoinEx posted an orderly cessation schedule ending spot trading on September 29 and withdrawals on December 22, with company-stated full backing. What it does not prove is that every user’s withdrawal will clear without friction, that NFT marketplace floors will move solely because one CEX exits, or that competing venues absorb CoinEx volume one-for-one. Watch the September 29 spot cutoff, the December 22 withdrawal hard stop, and any later CoinEx custody notices before treating residual balances as still liquid on that platform.
For 8bitcrypto readers on September 17, the clean Marketplace Watch line is another mid-tier exchange choosing orderly exit over indefinite compliance spend—venue risk with dated gates, not a surprise freeze announcement without a calendar.
Disclaimer: This article is provided for informational and educational purposes only. It does not constitute financial, investment, legal, or trading advice. The NFT market is highly volatile, and past performance is not indicative of future results. Readers should conduct their own research and consult qualified professionals before making any decisions related to digital assets. The cover image for this article may have been created using artificial intelligence (AI).