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Founded in December 2017, CoinEx is a professional provider of crypto exchange services.
CoinEx Founder: Seriously Considered Selling CoinEx, But Ultimately Chose to Shut Down the Platform and Conduct an Orderly Wind-Down
CoinEx founder Yang Haipo posted on X regarding the shutdown and orderly wind-down of CoinEx, stating that CoinEx's asset reserve ratio currently exceeds 100%, and all user assets are fully backed by sufficient reserves and can be withdrawn normally.Regarding the reasons for the shutdown, Yang Haipo stated that CoinEx had been operating for nine years but ultimately failed to become an industry-leading exchange, while the security and compliance risks of operating a crypto exchange have become increasingly difficult to control. "Revenue can decline, but responsibility will not diminish. Taking on unlimited risk for limited revenue is no longer a rational choice."Yang Haipo also revealed that he had seriously considered selling CoinEx but ultimately decided against it. He stated that users entrusted their assets to CoinEx based on trust in the platform and, in many cases, in him personally, and therefore believed that handing over the platform and that trust to a new owner was not the right way to end this journey. In addition, CoinEx will ensure that users can withdraw their full balances and will buy back CET at unlimited quantities at its initial listing price of 0.005 USDT/CET.
CoinEx Announces Cessation of Operations and Launch of Orderly Wind-Down Process, Trading Platform to Officially Close on December 22
Odaily Report: CoinEx has issued an announcement stating that after careful evaluation, due to factors including the prolonged downturn in the crypto market, the significant contraction in overall industry trading volume and liquidity, and the continuously rising regulatory requirements and compliance costs, CoinEx has decided to cease operations and will enter an orderly wind-down process starting September 15. CoinEx stated that its current asset reserve ratio exceeds 100%, and all user assets are fully backed by sufficient reserves.According to the arrangement, CoinEx will cease all non-spot business on September 22, halt all spot trading on September 29, and CoinEx Smart Chain (CSC) and OneSwap will also cease operations on the same day; withdrawal services will continue until December 22, at which point the CoinEx trading platform will officially cease operations. CoinEx Wallet and CoinEx Vault are not affected by this shutdown and will continue to provide services as normal.
CoinEx Announces Cessation of Operations and Initiates Orderly Wind-Down Process
CoinEx announced that, due to a prolonged market downturn, contracting industry trading volume and liquidity, and rising regulatory requirements and compliance costs in major jurisdictions, the platform has decided to cease operations and initiate an orderly wind-down process. Starting September 15, 2026, CoinEx will gradually suspend new user registrations, non-spot services, and spot trading, and will formally cease operations following the conclusion of the withdrawal period on December 22, 2026. CoinEx stated that its asset reserve ratio exceeds 100%, ensuring users can withdraw their full balances.
CoinEx Responds to Wall Street Journal Report: Denies Collaboration with Iranian Government and Sanctioned Entities, Strengthens Compliance Controls
CoinEx issued a statement regarding the related report by The Wall Street Journal, stating that the platform has never established commercial relationships with entities linked to the Iranian government, domestic Iranian exchanges, or other sanctioned parties, nor has it provided financial channels or assistance to such parties. CoinEx noted that it was placed on Iran’s blacklist as early as 2021, and its official domain is also blocked within Iran.
CoinEx Emerges as Key Hub for Iran Sanctions Evasion, Involving Over $3.8 Billion in Funds
According to The Wall Street Journal, blockchain public-chain data analysis shows that Iranian entities have conducted over $3.84 billion in transactions via the cryptocurrency exchange CoinEx to circumvent U.S. economic sanctions. Investigators traced funds linked to two digital wallets controlled by the Central Bank of Iran and found connections to the $1.5 billion stolen by North Korean hackers from the Bybit exchange. After flowing through complex, multi-layered transaction paths, these funds ultimately entered CoinEx—making it one of the central channels through which Iran uses cryptocurrencies to bypass sanctions.
Analyst: History May Repeat Itself, Bitcoin Price Could Drop to $33,000
According to Cointelegraph, cryptocurrency analysts are divided on whether Bitcoin will reenact its historical “Sell in May” pattern in 2026. In the two midterm election years—2018 and 2022—Bitcoin experienced sharp declines in May, falling approximately 30% and 70%, respectively. Analyst Merlijn Enkelaar warned that this historical pattern could repeat, with Bitcoin potentially dropping to $33,000. Joao Wedson, CEO of Alphractal, also noted that if Bitcoin remains persistently below $78,000, the likelihood of a new capitulation phase increases. However, Jeff Ko, Chief Analyst at CoinEx, argued that past crashes stemmed from specific shocks—including the Mt. Gox incident, China’s ICO regulations, the Federal Reserve’s monetary tightening, and the collapses of Terra and FTX—not from calendar-based seasonality. He added that the launch of spot ETFs, corporate treasury allocations, and progress on the CLARITY Act have significantly broadened the institutional buyer base, making a 70–80% deep correction unlikely this cycle. Analyst Michaël van de Poppe highlighted $76,000 as the current critical support level; failure to hold it would likely trigger further downside pressure.
CoinEx Founder: Seriously Considered Selling CoinEx, But Ultimately Chose to Shut Down the Platform and Conduct an Orderly Wind-Down
CoinEx founder Yang Haipo posted on X regarding the shutdown and orderly wind-down of CoinEx, stating that CoinEx's asset reserve ratio currently exceeds 100%, and all user assets are fully backed by sufficient reserves and can be withdrawn normally.Regarding the reasons for the shutdown, Yang Haipo stated that CoinEx had been operating for nine years but ultimately failed to become an industry-leading exchange, while the security and compliance risks of operating a crypto exchange have become increasingly difficult to control. "Revenue can decline, but responsibility will not diminish. Taking on unlimited risk for limited revenue is no longer a rational choice."Yang Haipo also revealed that he had seriously considered selling CoinEx but ultimately decided against it. He stated that users entrusted their assets to CoinEx based on trust in the platform and, in many cases, in him personally, and therefore believed that handing over the platform and that trust to a new owner was not the right way to end this journey. In addition, CoinEx will ensure that users can withdraw their full balances and will buy back CET at unlimited quantities at its initial listing price of 0.005 USDT/CET.
CoinEx Announces Cessation of Operations and Launch of Orderly Wind-Down Process, Trading Platform to Officially Close on December 22
Odaily Report: CoinEx has issued an announcement stating that after careful evaluation, due to factors including the prolonged downturn in the crypto market, the significant contraction in overall industry trading volume and liquidity, and the continuously rising regulatory requirements and compliance costs, CoinEx has decided to cease operations and will enter an orderly wind-down process starting September 15. CoinEx stated that its current asset reserve ratio exceeds 100%, and all user assets are fully backed by sufficient reserves.According to the arrangement, CoinEx will cease all non-spot business on September 22, halt all spot trading on September 29, and CoinEx Smart Chain (CSC) and OneSwap will also cease operations on the same day; withdrawal services will continue until December 22, at which point the CoinEx trading platform will officially cease operations. CoinEx Wallet and CoinEx Vault are not affected by this shutdown and will continue to provide services as normal.
CoinEx Announces Cessation of Operations and Initiates Orderly Wind-Down Process
CoinEx announced that, due to a prolonged market downturn, contracting industry trading volume and liquidity, and rising regulatory requirements and compliance costs in major jurisdictions, the platform has decided to cease operations and initiate an orderly wind-down process. Starting September 15, 2026, CoinEx will gradually suspend new user registrations, non-spot services, and spot trading, and will formally cease operations following the conclusion of the withdrawal period on December 22, 2026. CoinEx stated that its asset reserve ratio exceeds 100%, ensuring users can withdraw their full balances.
CoinEx Emerges as Key Hub for Iran Sanctions Evasion, Involving Over $3.8 Billion in Funds
According to The Wall Street Journal, blockchain public-chain data analysis shows that Iranian entities have conducted over $3.84 billion in transactions via the cryptocurrency exchange CoinEx to circumvent U.S. economic sanctions. Investigators traced funds linked to two digital wallets controlled by the Central Bank of Iran and found connections to the $1.5 billion stolen by North Korean hackers from the Bybit exchange. After flowing through complex, multi-layered transaction paths, these funds ultimately entered CoinEx—making it one of the central channels through which Iran uses cryptocurrencies to bypass sanctions.
Analyst: History May Repeat Itself, Bitcoin Price Could Drop to $33,000
According to Cointelegraph, cryptocurrency analysts are divided on whether Bitcoin will reenact its historical “Sell in May” pattern in 2026. In the two midterm election years—2018 and 2022—Bitcoin experienced sharp declines in May, falling approximately 30% and 70%, respectively. Analyst Merlijn Enkelaar warned that this historical pattern could repeat, with Bitcoin potentially dropping to $33,000. Joao Wedson, CEO of Alphractal, also noted that if Bitcoin remains persistently below $78,000, the likelihood of a new capitulation phase increases. However, Jeff Ko, Chief Analyst at CoinEx, argued that past crashes stemmed from specific shocks—including the Mt. Gox incident, China’s ICO regulations, the Federal Reserve’s monetary tightening, and the collapses of Terra and FTX—not from calendar-based seasonality. He added that the launch of spot ETFs, corporate treasury allocations, and progress on the CLARITY Act have significantly broadened the institutional buyer base, making a 70–80% deep correction unlikely this cycle. Analyst Michaël van de Poppe highlighted $76,000 as the current critical support level; failure to hold it would likely trigger further downside pressure.
WSJ: Iran-linked wallets moved over $3.84 billion in assets through CoinEx
According to Odaily, since 2019, wallets with clear ties to Iran have transferred over $3.84 billion in transaction funds through the cryptocurrency exchange CoinEx. Among these, wallets hosted by CoinEx received hacked crypto assets acquired by the Central Bank of Iran and conducted direct transactions with accounts previously identified by U.S. officials as belonging to Iran's Islamic Revolutionary Guard Corps.Blockchain data shows that in 2024, CoinEx replaced Binance as the largest foreign counterparty for Iran's biggest domestic crypto exchange, Nobitex. Last year, the flow of funds between Nobitex and CoinEx exceeded $763 million. Additionally, between 2022 and 2025, wallets hosted by CoinEx also processed transactions for Alireza Derakhshan, an Iranian individual allegedly involved in a network selling sanctioned oil. (WSJ)
CoinEx Emerges as Key Hub for Iran Sanctions Evasion, Involving Over $3.8 Billion in Funds
According to The Wall Street Journal, blockchain public-chain data analysis shows that Iranian entities have conducted over $3.84 billion in transactions via the cryptocurrency exchange CoinEx to circumvent U.S. economic sanctions. Investigators traced funds linked to two digital wallets controlled by the Central Bank of Iran and found connections to the $1.5 billion stolen by North Korean hackers from the Bybit exchange. After flowing through complex, multi-layered transaction paths, these funds ultimately entered CoinEx—making it one of the central channels through which Iran uses cryptocurrencies to bypass sanctions.
CZ comments on CoinEx platform shutdown: At least users can still withdraw their assets, in stark contrast to previous cycles
CZ, commenting on X regarding CoinEx ceasing operations and initiating an orderly wind-down, stated that at least in the current crypto winter, several recently shuttered platforms have still allowed users to withdraw their own assets — a stark contrast to the "QuadrigaCX-style" endings seen in previous cycles.
CoinEx Founder: Seriously Considered Selling CoinEx, But Ultimately Chose to Shut Down the Platform and Conduct an Orderly Wind-Down
CoinEx founder Yang Haipo posted on X regarding the shutdown and orderly wind-down of CoinEx, stating that CoinEx's asset reserve ratio currently exceeds 100%, and all user assets are fully backed by sufficient reserves and can be withdrawn normally.Regarding the reasons for the shutdown, Yang Haipo stated that CoinEx had been operating for nine years but ultimately failed to become an industry-leading exchange, while the security and compliance risks of operating a crypto exchange have become increasingly difficult to control. "Revenue can decline, but responsibility will not diminish. Taking on unlimited risk for limited revenue is no longer a rational choice."Yang Haipo also revealed that he had seriously considered selling CoinEx but ultimately decided against it. He stated that users entrusted their assets to CoinEx based on trust in the platform and, in many cases, in him personally, and therefore believed that handing over the platform and that trust to a new owner was not the right way to end this journey. In addition, CoinEx will ensure that users can withdraw their full balances and will buy back CET at unlimited quantities at its initial listing price of 0.005 USDT/CET.
CoinEx Announces Cessation of Operations and Launch of Orderly Wind-Down Process, Trading Platform to Officially Close on December 22
Odaily Report: CoinEx has issued an announcement stating that after careful evaluation, due to factors including the prolonged downturn in the crypto market, the significant contraction in overall industry trading volume and liquidity, and the continuously rising regulatory requirements and compliance costs, CoinEx has decided to cease operations and will enter an orderly wind-down process starting September 15. CoinEx stated that its current asset reserve ratio exceeds 100%, and all user assets are fully backed by sufficient reserves.According to the arrangement, CoinEx will cease all non-spot business on September 22, halt all spot trading on September 29, and CoinEx Smart Chain (CSC) and OneSwap will also cease operations on the same day; withdrawal services will continue until December 22, at which point the CoinEx trading platform will officially cease operations. CoinEx Wallet and CoinEx Vault are not affected by this shutdown and will continue to provide services as normal.
CoinEx Announces Cessation of Operations and Initiates Orderly Wind-Down Process
CoinEx announced that, due to a prolonged market downturn, contracting industry trading volume and liquidity, and rising regulatory requirements and compliance costs in major jurisdictions, the platform has decided to cease operations and initiate an orderly wind-down process. Starting September 15, 2026, CoinEx will gradually suspend new user registrations, non-spot services, and spot trading, and will formally cease operations following the conclusion of the withdrawal period on December 22, 2026. CoinEx stated that its asset reserve ratio exceeds 100%, ensuring users can withdraw their full balances.
CoinEx Responds to Wall Street Journal Report: Denies Collaboration with Iranian Government and Sanctioned Entities, Strengthens Compliance Controls
CoinEx issued a statement regarding the related report by The Wall Street Journal, stating that the platform has never established commercial relationships with entities linked to the Iranian government, domestic Iranian exchanges, or other sanctioned parties, nor has it provided financial channels or assistance to such parties. CoinEx noted that it was placed on Iran’s blacklist as early as 2021, and its official domain is also blocked within Iran.
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CZ comments on CoinEx platform shutdown: At least users can still withdraw their assets, in stark contrast to previous cycles
CZ, commenting on X regarding CoinEx ceasing operations and initiating an orderly wind-down, stated that at least in the current crypto winter, several recently shuttered platforms have still allowed users to withdraw their own assets — a stark contrast to the "QuadrigaCX-style" endings seen in previous cycles.
CoinEx Founder: Seriously Considered Selling CoinEx, But Ultimately Chose to Shut Down the Platform and Conduct an Orderly Wind-Down
CoinEx founder Yang Haipo posted on X regarding the shutdown and orderly wind-down of CoinEx, stating that CoinEx's asset reserve ratio currently exceeds 100%, and all user assets are fully backed by sufficient reserves and can be withdrawn normally.Regarding the reasons for the shutdown, Yang Haipo stated that CoinEx had been operating for nine years but ultimately failed to become an industry-leading exchange, while the security and compliance risks of operating a crypto exchange have become increasingly difficult to control. "Revenue can decline, but responsibility will not diminish. Taking on unlimited risk for limited revenue is no longer a rational choice."Yang Haipo also revealed that he had seriously considered selling CoinEx but ultimately decided against it. He stated that users entrusted their assets to CoinEx based on trust in the platform and, in many cases, in him personally, and therefore believed that handing over the platform and that trust to a new owner was not the right way to end this journey. In addition, CoinEx will ensure that users can withdraw their full balances and will buy back CET at unlimited quantities at its initial listing price of 0.005 USDT/CET.
CoinEx Announces Cessation of Operations and Launch of Orderly Wind-Down Process, Trading Platform to Officially Close on December 22
Odaily Report: CoinEx has issued an announcement stating that after careful evaluation, due to factors including the prolonged downturn in the crypto market, the significant contraction in overall industry trading volume and liquidity, and the continuously rising regulatory requirements and compliance costs, CoinEx has decided to cease operations and will enter an orderly wind-down process starting September 15. CoinEx stated that its current asset reserve ratio exceeds 100%, and all user assets are fully backed by sufficient reserves.According to the arrangement, CoinEx will cease all non-spot business on September 22, halt all spot trading on September 29, and CoinEx Smart Chain (CSC) and OneSwap will also cease operations on the same day; withdrawal services will continue until December 22, at which point the CoinEx trading platform will officially cease operations. CoinEx Wallet and CoinEx Vault are not affected by this shutdown and will continue to provide services as normal.
CoinEx Announces Cessation of Operations and Initiates Orderly Wind-Down Process
CoinEx announced that, due to a prolonged market downturn, contracting industry trading volume and liquidity, and rising regulatory requirements and compliance costs in major jurisdictions, the platform has decided to cease operations and initiate an orderly wind-down process. Starting September 15, 2026, CoinEx will gradually suspend new user registrations, non-spot services, and spot trading, and will formally cease operations following the conclusion of the withdrawal period on December 22, 2026. CoinEx stated that its asset reserve ratio exceeds 100%, ensuring users can withdraw their full balances.
CoinEx Responds to Wall Street Journal Report: Denies Collaboration with Iranian Government and Sanctioned Entities, Strengthens Compliance Controls
CoinEx issued a statement regarding the related report by The Wall Street Journal, stating that the platform has never established commercial relationships with entities linked to the Iranian government, domestic Iranian exchanges, or other sanctioned parties, nor has it provided financial channels or assistance to such parties. CoinEx noted that it was placed on Iran’s blacklist as early as 2021, and its official domain is also blocked within Iran.
WSJ: Iran-linked wallets moved over $3.84 billion in assets through CoinEx
According to Odaily, since 2019, wallets with clear ties to Iran have transferred over $3.84 billion in transaction funds through the cryptocurrency exchange CoinEx. Among these, wallets hosted by CoinEx received hacked crypto assets acquired by the Central Bank of Iran and conducted direct transactions with accounts previously identified by U.S. officials as belonging to Iran's Islamic Revolutionary Guard Corps.Blockchain data shows that in 2024, CoinEx replaced Binance as the largest foreign counterparty for Iran's biggest domestic crypto exchange, Nobitex. Last year, the flow of funds between Nobitex and CoinEx exceeded $763 million. Additionally, between 2022 and 2025, wallets hosted by CoinEx also processed transactions for Alireza Derakhshan, an Iranian individual allegedly involved in a network selling sanctioned oil. (WSJ)