Hong Kong Crypto Exchange CoinEx To Shutdown

Hong Kong's cryptocurrency exchange CoinEx announced it will cease operations nine years after its launch, citing an increasingly challenging operating environment. The company explained that the security and compliance risks associated with running a crypto exchange have become difficult to manage. CoinEx users have until December 22 to withdraw their funds.

The exchange's 24-hour trading volume on September 14 was $70 million U.S., which is lower than other Asian crypto exchanges like CoinW and Gate. This closure is part of a broader trend of crypto exchanges shutting down amid a prolonged crypto winter and consolidation in the industry. Similar closures have occurred at Bitmart and BitMEX in recent months due to declining spot trading volumes and slumping digital asset prices.

Bitcoin is currently trading at $76,900 U.S., down from its all-time high of $126,000 in October 2025. CoinEx is a privately held company with no publicly traded stock.