Hong Kong Crypto Exchange Coinex To Shutdown
In a statement, the exchange said that it is ceasing operations due to an "increasingly difficult" operating environment.
"The security and compliance risks of running a crypto exchange have become increasingly difficult to contain," said the company.
CoinEx users have until Dec. 22 of this year to withdraw their funds. The exchange will cease operations nine years to the day after it went live.
CoinEx's 24-hour trading volume on Sept. 14 stood at $70 million U.S., according to data from CoinGecko. That's much lower than other Asian crypto exchanges such as CoinW and Gate.
The closure of CoinEx is the latest among crypto exchanges amid a prolonged "crypto winter" that began nearly a year ago and ongoing consolidation within the industry.
Crypto exchanges Bitmart and BitMEX, which had been around since 2017 and 2014, announced their closures in July of this year, citing similar issues as CoinEx.
Analysts say that crypto exchanges have suffered from a decline in spot trading volumes among retail investors as prices for digital assets slump.
Bitcoin (CRYPTO: $BTC) is trading at $76,900 U.S. on Sept. 15, down from an all-time high of $126,000 U.S. reached in October 2025.
CoinEx is privately held and its stock does not trade on a public exchange.
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