After nine years, CoinEx will wind down the exchange, blaming a prolonged market slump, thinning volume and rising compliance costs.

The platform stops new registrations today and will halt most services on September 29. Withdrawals stay open until December 22, after which unclaimed balances may be converted to USDT.

Any remaining USDT then moves to independent custody carrying a 5% monthly fee on the original balance, with a custody-claims deadline of August 22, 2028. Founder Haipo Yang said the exchange will ensure users can withdraw their assets in full.

Yang framed the decision around mounting pressure on the business, saying the security and compliance risks of running a crypto exchange have become increasingly difficult to contain. CoinEx served millions of users across more than 200 countries.

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