CoinEx is shutting down: trading is halted and coins are being sold for USDT — how to get your money out before December 22

CoinEx shutdown timeline

CoinEx has been operating since December 2017, so the shutdown comes exactly nine years after launch.

CoinEx founder Haipo Yang pinned the decision on a prolonged market slump, shrinking volumes and liquidity, and compliance costs that, in his words, had gone beyond reason. He passed on selling the platform and opted for a clean exit. The exchange maintains that its reserves exceed 100%, meaning every customer balance is fully backed.

What is happening to your coins right now

• USDT stays in your balance as is. You need to withdraw it by December 22.
• CoinEx is selling liquid coins on its own. Anything that trades on external markets gets sold in batches, and the net proceeds are credited as USDT to your spot account. There will be no individual notifications and no price announced in advance.
• Illiquid tokens may vanish. If a token has no market on other platforms, the exchange delists it and drops support for its wallet. CoinEx isn't promising to buy such tokens back.
• CET was bought back at 0.005 USDT. Until September 29 the exchange kept a buy order open with no volume cap, and then it automatically bought back any remaining CET at the same price.

The option to keep your coins in their original form expired at 02:00 UTC on September 29. If a coin still shows up in your balance and withdrawals for it are open, get it out now: the sales happen in batches, and yours could be in the next one. If the exchange has already sold your coin and you now see USDT instead, you can buy it back after withdrawing through a crypto exchange without registration.

How to withdraw from CoinEx: step by step

1. Log in and check every account. The funds you want to withdraw need to be in your spot account: if anything is sitting in other accounts, transfer it there.
2. Open the assets section and click "Withdraw."
3. Select USDT or a coin the exchange hasn't sold yet.
4. Choose the network — the same one your wallet address is on.
5. Paste the address, enter the amount and double-check the fee and the amount you'll receive.
6. Confirm the withdrawal with your 2FA code and the code from the email if the exchange asks for them.
7. Save the transaction hash (TxID) from your withdrawal history: it lets you see where your money is at any moment. We explained how to find a transfer in a block explorer in our guide on how to check a crypto transaction by TXID.

No wallet of your own yet? Set one up in advance and back up the seed phrase right away — our breakdown of where to store your seed phrase so you never lose access to your wallet walks you through it.

Which network to use for withdrawing USDT

Pick a network that both CoinEx and your wallet support:

• TRON (TRC20) — the most widely used network for USDT; addresses start with T.
• BNB Smart Chain (BEP20) — usually cheaper; addresses start with 0x.
• Ethereum (ERC20) — the most expensive network for fees; addresses also start with 0x.

The biggest mistake is mixing up networks: ERC20 and BEP20 addresses look exactly the same. We covered how the networks differ and how to avoid overpaying in our guide on which network to use for withdrawing USDT with the lowest fees.

What not to do before December 22

• Don't send anything to CoinEx. Deposits have been closed since September 22. The old deposit address in your wallet history no longer leads to a working account, and coins sent there may be lost.
• Don't wait until the final week. Withdrawal queues tend to swell before an exchange closes, and support gets slower to reply.
• Don't trust "support" in your DMs. An exchange shutdown is a field day for scammers: "we'll speed up your withdrawal for a fee," "we'll recover your delisted tokens." Real support never asks for your seed phrase, 2FA codes or a payment to unlock your funds.
• Don't leave a balance for later. Custody after December 22 costs 5% a month of the amount held at closing. Over the 20 months until claims stop being accepted in August 2028, that eats 100% of the balance. And to get your money back after the deadline, you'll have to go through identity verification.

What to do with your money after withdrawing

Once withdrawn, your money sits in your own wallet, and the next exchange that shuts down can't lock it up. If you'd rather not hold USDT, you can exchange USDT to BTC straight to your wallet. VertEXchange has no accounts or internal balances that could be shut down: coins arrive directly at your address.

Why exchanges shut down

CoinEx has had a rocky run. In 2023 it paid $1.7 million under a settlement with the New York Attorney General and pulled out of the US market, and that September about $70 million was stolen from it in a hack attributed to North Korea's Lazarus group. In June 2026 the exchange was accused of handling $3.84 billion in transactions tied to Iran; CoinEx disputes the allegations.

The lesson applies to every platform: an exchange balance is just an IOU from the exchange. It can shut withdrawals, sell your coins at its own price or walk away from the market. Last week Bitget got hacked, and now CoinEx is closing. Keep only what you trade on an exchange and your savings in your own wallet; we break down the difference in our guide to custodial vs non-custodial wallets and where to withdraw your coins.

Frequently asked questions

When does CoinEx shut down?

Withdrawals stay open until 02:00 UTC on December 22, 2026. Spot trading stopped on September 29, and the rest of the services on September 22.

Can I still sell my coins on CoinEx?

No, trading is over. Coins that have a market on other platforms are sold by the exchange itself, and the proceeds are credited in USDT. If you want a different coin instead of USDT, after withdrawing you can swap USDT for ETH without registration.

What happens to tokens that aren't traded on other exchanges?

CoinEx delists them and stops supporting their wallets. The exchange isn't promising a buyback, so if a token like that can still be withdrawn, withdraw it right away.

What happens if I don't withdraw by December 22?

Whatever is left goes into independent custody for a fee of 5% a month of the amount held at closing. Refund claims are accepted by email until August 22, 2028, with identity verification.

What happened to the CET token?

The exchange bought it back at 0.005 USDT per token. If you still had CET in your balance after September 29, it was converted automatically at the same price, and your account now holds USDT instead.

Can I deposit to CoinEx?

No, deposits have been closed since September 22. Don't send coins to old deposit addresses.

Is my money safe on CoinEx until the shutdown?

The exchange says its reserves exceed 100% and all balances are backed. Still, there's no reason to wait: withdraw your money while withdrawals are working.