CoinEx to cease operations after 9 years, citing compliance costs and security risks

Hong Kong crypto exchange CoinEx announced it will shut down after 9 years in business, with founder and CEO Haipo Yang citing mounting regulatory and compliance costs that have exceeded "reasonable boundaries," alongside growing security risks. The platform will remain open for withdrawals until December 22, 2026.

The closure reflects broader pressures on smaller crypto exchanges facing rising operational expenses and compliance complexity in an increasingly regulated market.