Crypto exchange CoinEx will shut down on Dec. 22, exactly nine years after its launch, citing prolonged crypto-market downturn, contracting trading volumes and liquidity, and rising regulatory requirements, compliance costs and operational uncertainty. The platform began its staged wind-down on Sept. 15: most non-spot services will end on Sept. 22, spot trading will cease on Sept. 29, and withdrawals will stop on Dec. 22 at 2:00 UTC. Analytics platform Arkham labels 3.2 million addresses to CoinEx with a combined balance of $422.7 million, including $144.7 million in bitcoin and $55 million in USDT. After Dec. 22, unwithdrawn USDT will incur a monthly custody fee equal to 5% of the original balance, with a claim deadline of Aug. 22, 2028.
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