[Exchanges](https://revain.org/exchanges/) › CoinEx

# CoinEx: licences, security, fees and reviews

Centralized exchange

## In short

- **Status**: CoinEx announced on 15 September 2026 that it is ceasing operations; trading services wind down on a schedule and withdrawals remain available until 22 December 2026, after which remaining assets go into custody with a monthly fee.
- **Legal entity**: Algebraiex Global Limited
- **Risks and caveats**: No licence or registration with a financial regulator is shown on CoinEx's official pages, and the operating company's jurisdiction is not stated.
- **Checked**: 31 October 2026

## Key facts

- **Type**: Centralized exchange
- **Status**: CoinEx announced on 15 September 2026 that it is ceasing operations; trading services wind down on a schedule and withdrawals remain available until 22 December 2026, after which remaining assets go into custody with a monthly fee.
- **Exchange launched**: 2017
- **Operator**: Algebraiex Global Limited (contracting entity under the Terms of Service)
- **Official site**: [coinex.com](https://www.coinex.com/)

Key facts checked on 31 October 2026 against official sources and regulator registers.

## What is CoinEx

CoinEx is a centralised cryptocurrency exchange founded in 2017. Its services are provided by Algebraiex Global Limited and include spot, margin and futures trading, AMM markets, loans and earn products. It issues its own token, CET, which runs on its own CoinEx Smart Chain.

## Good to know

- On 15 September 2026 CoinEx announced an orderly cessation of operations: trading services were to end by 29 September 2026 and withdrawals remain open until 22 December 2026. [↗](https://coinex-announcement.zendesk.com/hc/en-us/articles/53539656293908-Important-Notice-on-CoinEx-s-Orderly-Cessation-of-Operations)
- In June 2023 CoinEx settled a New York Attorney General lawsuit: a consent order bars it from New York, with refunds to New York investors and penalties. [↗](https://ag.ny.gov/press-release/2023/attorney-general-james-recovers-17-million-cryptocurrency-platform-operating)
- The contracting entity is Algebraiex Global Limited; the Terms and Privacy Policy do not state where it is incorporated. [↗](https://www.coinex.com/en/service)
- CoinEx is not available in the US, mainland China, Hong Kong, Canada, the European Economic Area, the UK, Switzerland, Kazakhstan, Iran, North Korea or Cuba. [↗](https://support.coinex.com/hc/en-us/articles/59334070059417-List-of-Prohibited-Jurisdictions)
- Using a VPN or false information to get around the restrictions is prohibited; CoinEx may freeze funds of accounts linked to a prohibited jurisdiction. [↗](https://support.coinex.com/hc/en-us/articles/59334070059417-List-of-Prohibited-Jurisdictions)
- Paying spot fees in CET gives a 20% discount; it does not apply to AMM or futures markets. [↗](https://support.coinex.com/hc/en-us/articles/360006277654-Use-CET-as-Trading-Fees)
- The proof of reserves is self-published by CoinEx (Merkle tree and wallet balances); no external auditor is named. [↗](https://www.coinex.com/en/reserve-proof)
- CoinEx states it is not a broker, adviser or fiduciary for its users. [↗](https://www.coinex.com/en/disclaimer)

## Services

| Parameter | Details |
|---|---|
| Spot trading | Spot trading in 500+ crypto assets, plus AMM markets. |
| Derivatives | Perpetual contracts (USDT-margined and others), margin trading, crypto loans and strategy trading. |
| Own token | CoinEx Token (CET), issued in January 2018; now the gas token of CoinEx Smart Chain. |
| Own blockchain | CoinEx Smart Chain (CSC), a proof-of-stake public chain. |
| Custody / wallet | CoinEx Wallet, a self-custody multi-currency wallet. |

## Proof of reserves as of 14 September 2026

| Asset | Reserve ratio |
|---|---|
| BTC | 105.6% |
| ETH | 100.6% |
| USDT | 109.1% |
| USDC | 101.5% |
| CET | 107.4% |

Method: Merkle tree of user balances compared with on-chain balances of CoinEx hot and cold wallets (self-published). [↗](https://www.coinex.com/en/reserve-proof)

## Security and audits

- Private keys of the cold wallet are kept offline in a proprietary cold storage system with multi-signature protocols.
- A Shield Fund receives 10% of each trading fee to protect users in extreme events.
- CoinEx runs a public security bounty programme and publishes official channels for verification.

## Security incidents

| Date | What happened | Source |
|---|---|---|
| 12 September 2023 | Key compromise: CoinEx detected anomalous withdrawals from several hot wallet addresses; it preliminarily attributed the incident to a leaked hot-wallet private key. Its list of affected assets includes 231 BTC, 4,953 ETH, 12,625,364 XRP and 135,600 SOL among others; cold wallets were stated as unaffected. Deposits and withdrawals were suspended and resumed gradually from 21 September 2023. Funds returned: CoinEx stated that user assets were not affected and that its User Asset Security Foundation would bear the losses. | [coinex-announcement.zendesk.com](https://coinex-announcement.zendesk.com/hc/en-us/articles/19187420867348-Latest-Progress-of-the-Hacking-Attack-on-Sep-12-2023-Updated-on-Sep-22) |

## Fees

| Parameter | Details |
|---|---|
| Spot maker | 0.2% at VIP 0; 0.16% when paid in CET (as of 31 October 2026) |
| Spot taker | 0.2% at VIP 0; 0.16% when paid in CET (as of 31 October 2026) |
| Futures maker | 0.030% at VIP 0, USDT-margined contracts (as of 31 October 2026) |
| Futures taker | 0.050% at VIP 0, USDT-margined contracts (as of 31 October 2026) |

## Who can use it

- Verification: Identity verification is required under CoinEx's AML/KYC policy before using services.
- Not available in the United States, mainland China, Hong Kong, Canada, the European Economic Area, the United Kingdom, Switzerland, Kazakhstan, Iran, North Korea, Cuba and other sanctioned jurisdictions.

## History

| Date | Event |
|---|---|
| 2017 | CoinEx is founded. |
| January 2018 | CoinEx Token (CET) is issued, first on Ethereum, later migrated to CoinEx Smart Chain. |
| 12 March 2021 | CoinEx decides to keep using 20% of trading fee revenue for CET buyback and burn. |
| 22 February 2023 | The New York Attorney General sues CoinEx for failing to register as a securities and commodities broker-dealer in New York and for representing itself as an exchange. |
| 15 June 2023 | CoinEx settles the New York lawsuit: the consent order requires refunds of more than $1.1 million to New York investors, more than $600,000 in penalties and an exit from New York. |
| 12 September 2023 | Hot-wallet incident: anomalous withdrawals from several CoinEx hot wallets, attributed preliminarily to a leaked private key; CoinEx said it would cover the losses. |
| 14 September 2026 | Latest published proof-of-reserves snapshot. |
| 15 September 2026 | CoinEx announces an orderly cessation of operations; withdrawals remain available until 22 December 2026. |

## Risks and caveats

- CoinEx announced on 15 September 2026 that it is ceasing operations; withdrawals end on 22 December 2026, after which unwithdrawn assets go into custody with a monthly fee.
- No licence or registration with a financial regulator is shown on CoinEx's official pages, and the operating company's jurisdiction is not stated.
- Enforcement on record: in 2023 the New York Attorney General sued CoinEx for operating unregistered in New York; a June 2023 consent order required refunds, penalties and an exit from New York.
- CoinEx may restrict, suspend or terminate accounts and freeze funds at its discretion, including for accounts linked to prohibited jurisdictions.
- Proof of reserves is self-published without a named external auditor.

## About the company

- **Legal entity**: Algebraiex Global Limited
- **Founded**: 2017
- **Own token**: CoinEx Token (CET)

## Official links

- Website: [www.coinex.com](https://www.coinex.com/)
- Fees: [www.coinex.com/en/fees](https://www.coinex.com/en/fees)
- Proof of reserves: [www.coinex.com/en/reserve-proof](https://www.coinex.com/en/reserve-proof)
- Terms of use: [www.coinex.com/en/service](https://www.coinex.com/en/service)
- Security: [www.coinex.com/en/sec_solutions](https://www.coinex.com/en/sec_solutions)
- Cessation notice: [coinex-announcement.zendesk.com/hc/en-us/articles/53539656293908-Important-Notice-on-CoinEx-s-Orderly-Cessation-of-Operations](https://coinex-announcement.zendesk.com/hc/en-us/articles/53539656293908-Important-Notice-on-CoinEx-s-Orderly-Cessation-of-Operations)

## Questions and answers

**Is CoinEx still operating?**

No. CoinEx announced on 15 September 2026 that it is ceasing operations; trading was to end by 29 September 2026 and withdrawals remain available until 22 December 2026.

**Is CoinEx regulated?**

No licence or registration with a financial regulator appears on CoinEx's official pages. Services are provided by Algebraiex Global Limited, whose jurisdiction is not stated. In 2023 it settled a New York Attorney General lawsuit over operating unregistered in New York.

**Does CoinEx publish proof of reserves?**

Yes, a self-published Merkle-tree report; the snapshot of 14 September 2026 shows 105.6% for BTC and 109.13% for USDT, with no external auditor named.

**What are CoinEx's fees?**

Spot trading costs 0.2% at VIP 0 (0.16% paid in CET); USDT-margined futures cost 0.030% maker and 0.050% taker (as of 31 October 2026).

**Is CoinEx available in the US or the EU?**

No. The United States, the European Economic Area, the UK, Canada, mainland China and Hong Kong are on CoinEx's prohibited list.

## Sources

- [CoinEx - Home](https://www.coinex.com/en)
- [CoinEx - About Us](https://www.coinex.com/en/aboutus)
- [CoinEx - Terms of Service](https://www.coinex.com/en/service)
- [CoinEx - Privacy Policy](https://www.coinex.com/en/privacy)
- [CoinEx - Disclaimer](https://www.coinex.com/en/disclaimer)
- [CoinEx - Fees](https://www.coinex.com/en/fees)
- [CoinEx - Proof of Reserve](https://www.coinex.com/en/reserve-proof)
- [CoinEx - Security Solutions](https://www.coinex.com/en/sec_solutions)
- [CoinEx - List of Prohibited Jurisdictions](https://support.coinex.com/hc/en-us/articles/59334070059417-List-of-Prohibited-Jurisdictions)
- [CoinEx - AML / KYC Policy](https://support.coinex.com/hc/en-us/articles/27436563672601-AML-KYC-Policy)
- [CoinEx - Fee Structure for USDT-Margined Contracts](https://support.coinex.com/hc/en-us/articles/7112450560921-Fee-Structure-for-USD%E2%93%88-Margined-Contracts)
- [CoinEx - Use CET as Trading Fees](https://support.coinex.com/hc/en-us/articles/360006277654-Use-CET-as-Trading-Fees)
- [CoinEx - CET Introduction and Repurchase](https://support.coinex.com/hc/en-us/articles/360006027414-CET-Introduction-and-Repurchase)
- [CoinEx - Official Verification Channel](https://support.coinex.com/hc/en-us/articles/900001865506-CoinEx-Official-Verification-Channel)
- [CoinEx - Important Notice on CoinEx's Orderly Cessation of Operations (15 Sep 2026)](https://coinex-announcement.zendesk.com/hc/en-us/articles/53539656293908-Important-Notice-on-CoinEx-s-Orderly-Cessation-of-Operations)
- [CoinEx - Latest Progress of the Hacking Attack on Sep 12, 2023](https://coinex-announcement.zendesk.com/hc/en-us/articles/19187420867348-Latest-Progress-of-the-Hacking-Attack-on-Sep-12-2023-Updated-on-Sep-22)
- [New York Attorney General - press release, 22 February 2023](https://ag.ny.gov/press-release/2023/attorney-general-james-sues-cryptocurrency-platform-failing-register-new-york)
- [New York Attorney General - press release, 15 June 2023](https://ag.ny.gov/press-release/2023/attorney-general-james-recovers-17-million-cryptocurrency-platform-operating)

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Page updated: 2026-10-31

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Source: https://revain.org/exchanges/coinex/