CoinEx to Cease Operations in December After Nine Years
- CoinEx will close on Dec. 22, nine years after its launch, with withdrawals open until that date.
- Spot trading ends on Sept. 29, and all non-spot services were shut down on Sept. 22.
- Founder Haipo Yang opted for closure over selling the platform, aiming for a “clean ending.”
- CoinEx will repurchase its CET token at its original price of 0.005 USDT with no cap.
- The exchange faced scrutiny over alleged Iran-linked crypto flows months before closure.
CoinEx’s decision to wind down operations is attributed to prolonged market weakness and increasing compliance challenges, as stated by CEO Haipo Yang.
Despite facing allegations regarding Iran-linked transactions, CoinEx maintains a reserve ratio above 100%, ensuring user assets are fully backed during the closure process.Source
