CoinEx Founder: Security and Compliance Risks of Operating a CEX Increasingly Hard to Control

PANews, September 15 - CoinEx founder Yang Haipo issued a statement regarding the platform's shutdown, saying: "After careful consideration, I have accepted a harsh reality. CoinEx failed to become one of the industry's leading exchanges, and the security and compliance risks of operating a crypto exchange have become increasingly difficult to control. Revenue may decline, but responsibility cannot. Taking on unlimited risk for limited revenue is no longer a rational choice."

Yang Haipo also revealed that he had seriously considered selling CoinEx but ultimately decided against it. He believes that users entrust their assets to the platform out of trust in both the platform and himself, and handing the platform and that trust to a new owner is not the right way to end this journey.

Previously reported, CoinEx announced it would cease operations and begin an orderly shutdown, with withdrawals open from now until December 22, 2026. The platform will repurchase CET at the initial listing price of 0.005 USDT.