Cryptocurrency exchange CoinEx is ceasing operations after nine years, citing an increasingly difficult operating environment. The Hong Kong-based company stated that security and compliance risks have become hard to contain.
Users have until December 22 to withdraw their funds. The exchange will shut down nine years to the day after it launched. CoinEx is privately held and its stock does not trade on a public exchange.
CoinGecko data shows CoinEx's 24-hour trading volume on September 14 stood at $70 million U.S., a figure much lower than competitors like CoinW and Gate. Bitcoin traded at $76,900 U.S. on September 15, down from an all-time high of $126,000 U.S. reached in October 2025.
The closure follows announcements by Bitmart and BitMEX, which closed in July citing similar issues. Analysts attribute the trend to declining spot trading volumes among retail investors as digital asset prices slump, contributing to a prolonged crypto winter that began nearly a year ago.