CoinEx reaches the most consequential stage of its orderly shutdown on September 29.
At:
September 29, 2026 at 02:00 UTC
the exchanges published wind-down schedule moves from non-spot closure into spot shutdown and platform-controlled asset processing.
At this reports publication cutoff, the 02:00 UTC deadline is still ahead. WikiBit therefore treats the change as imminent rather than already completed.
What happens at 02:00 UTC
CoinExs shutdown terms say the September 29 stage includes:
- all spot trading ending;
- unfilled spot orders being cancelled;
- remaining CET being automatically repurchased;
- CoinEx Smart Chain ceasing operations;
- OneSwap ceasing operations;
- related bridge/redemption services ending;
- remaining non-USDT balances entering platform disposal/processing.
For users still holding assets on the exchange, this is an irreversible operational transition.
The most important distinction: original token versus later withdrawal
CoinExs general withdrawal window remains scheduled until:
December 22, 2026 at 02:00 UTC
But that later date does not mean every non-USDT asset will remain available in its original token form until December.
CoinEx tells users who want to retain non-USDT assets themselves to complete withdrawal before the September 29 cutoff.
Afterward, CoinEx may dispose of assets in external markets and credit the resulting value in USDT.
The user can therefore move from:
holding token X
to:
holding USDT proceeds determined by CoinExs disposal of token X
without choosing the execution timing or venue.
Liquid non-USDT balances
Where an external market remains liquid enough, CoinEx says it may sell remaining non-USDT assets.
Net proceeds can then be credited to the user in:
USDT
This creates several execution risks:
- external-market price at the time of disposal;
- spread and slippage;
- fragmented liquidity;
- order-book depth;
- processing timing;
- netting of transaction/execution costs under the wind-down terms.
The platform does not promise that the user receives the tokens last CoinEx spot price.
Illiquid assets carry greater risk
Assets with little or no external liquidity can be harder to process.
CoinExs wind-down terms allow unsupported/illiquid assets to face discontinued wallet or custody support as the exchange closes services.
This means an illiquid token can carry more risk than a liquid asset even if both appear in the same account before the deadline.
WikiBit therefore treats the September 29 cutoff as especially important for thinly traded assets.
CET automatic repurchase
CoinEx has set the CET repurchase price at:
0.005 USDT per CET
Remaining CET is scheduled to be automatically repurchased under the exchanges wind-down mechanism.
This is a platform-defined settlement price, not open-market price discovery.
Users who do not want that outcome need to have handled CET before the cutoff.
CoinEx Smart Chain and OneSwap also cease
The shutdown affects more than CoinExs centralized spot order book.
CoinEx Smart Chain and OneSwap are scheduled to cease operations as part of the September 29 stage.
Users with exposure involving:
- CSC-native assets;
- bridged assets;
- OneSwap positions;
- bridge/redemption flows;
must distinguish those systems from ordinary CEX balances.
A later centralized-exchange withdrawal window does not imply a chain, DEX or bridge remains available.
What already happened on September 22
The September 22 phase ended most non-spot services.
The schedule included:
- futures cessation;
- forced settlement of remaining futures positions;
- cancellation of futures orders;
- redemption of Earn/staking products;
- closure of most deposits;
- processing of loans and other non-spot exposure.
September 29 is therefore a separate second-stage event, not a repetition of the same shutdown step.
What happens after September 29
General withdrawal access remains scheduled through December 22 for balances that remain supported through the wind-down.
However, users should expect the account state to become increasingly different from normal exchange operation:
- no trading;
- fewer supported assets;
- more platform-controlled conversions;
- reduced wallet/network support;
- higher dependence on customer support for edge cases.
December 22 final withdrawal window
CoinExs published plan gives:
December 22, 2026 at 02:00 UTC
as the final general withdrawal deadline.
After that, eligible residual USDT may enter a separate custody arrangement.
Published terms describe:
- possible monthly custody charges equal to 5% of the original residual balance at the end of the withdrawal period;
- a final claim deadline extending to August 22, 2028.
That post-deadline custody arrangement should not be treated as a substitute for normal withdrawal.
Reserve statement and solvency boundary
CoinEx says its reserve ratio is above 100% and user assets are fully backed.
WikiBit has not identified evidence in the shutdown announcement itself that establishes insolvency.
However, solvency and orderly-exit execution are different risks.
Even a fully backed exchange can expose users to:
- forced conversions;
- poor external-market execution;
- unsupported assets;
- wallet shutdowns;
- network congestion;
- support delays;
- missed deadlines.
Why CoinEx says it is closing
CoinEx has described the wind-down in terms of:
- prolonged market weakness;
- reduced industry trading volume and liquidity;
- rising regulatory requirements;
- higher compliance costs;
- operating uncertainty.
The exchange has not described the closure as a hack-driven emergency.
Separate-service boundary
CoinEx Wallet and CoinEx Vault have been described as separate services outside the centralized-exchange shutdown.
ViaBTC has also been treated separately from the exchange wind-down.
Users should verify the exact product/legal entity holding an asset before assuming one shutdown notice applies to every CoinEx-branded service.
Scam risk during final shutdown
A shutdown creates ideal conditions for impersonation.
CoinEx users should be cautious of messages claiming:
- a special deadline extension;
- a private “unlock” process;
- a recovery payment requirement;
- a new wallet address to which funds must first be sent.
Only authenticated CoinEx channels should be used for withdrawal and support.
Timeline
September 15
Registrations stop; futures enter reduce-only; multiple non-spot products stop taking new activity.
September 22
Non-spot services cease; remaining futures positions are settled; most deposits close; Earn/staking redemption begins.
September 29 at 02:00 UTC
Spot ends; open orders cancel; CET is repurchased; original-form non-USDT window closes; CSC/OneSwap cease; disposal begins.
December 22 at 02:00 UTC
General withdrawal window ends.
August 22, 2028
Published final claim date for eligible residual USDT in the separate post-deadline custody framework.
Evidence Status
Confirmed / Exchange Wind-Down Terms
- Sep. 29 02:00 UTC spot cutoff.
- Open-order cancellation.
- CET repurchase at 0.005 USDT.
- CSC and OneSwap cessation.
- Original-form non-USDT deadline.
- External disposal / USDT credit mechanism.
- Dec. 22 general withdrawal deadline.
- Post-deadline custody framework.
Project Claim
- Reserve ratio above 100%.
- User assets fully backed.
Developing
- Actual disposal prices.
- Which illiquid assets lose support.
- Withdrawal congestion.
- Support disputes.
- Final residual balances entering custody.
Risk Assessment
Critical.
The event is an orderly wind-down rather than a confirmed insolvency crisis, but September 29 removes user control over spot execution and original-form withdrawal for many non-USDT balances.
What to Watch Next
Execution of the 02:00 UTC cutoff, CET repurchase, CSC/OneSwap status, non-USDT disposal prices, withdrawal throughput, support disputes and the December custody transition.
FAQ
When does CoinEx spot trading end？
September 29, 2026 at 02:00 UTC under the published wind-down.
What is the key deadline for keeping a non-USDT token in original form？
Before September 29 at 02:00 UTC.
What can happen to remaining liquid non-USDT assets？
CoinEx may sell them externally and credit net proceeds in USDT.
What happens to remaining CET？
It is scheduled for automatic repurchase at 0.005 USDT per CET.
Can users still withdraw after September 29？
General withdrawals remain scheduled until December 22, but original-form support for every token is not guaranteed after the September 29 processing stage.
Is CoinEx insolvent？
The published shutdown terms do not establish insolvency; CoinEx says reserves exceed 100%.