CoinEx is shutting down, but its hot wallet system remains highly advanced and is worth learning from for others in the industry. We introduced an MPC-based dual-signature scheme for our hot wallets to eliminate single points of failure. Our infrastructure is split into two systems run by completely independent teams: the business system and the wallet system. Each holds one private key, and every withdrawal or transfer must pass substantive risk review by both, in real time. If either system is compromised, assets still cannot be stolen. The hard part is that the wallet signing process has to be implemented independently, rather than relying on each node's native mechanism, which requires extensive re-engineering. It took us over a year to retrofit the vast majority of the nearly 300 chains supported by CoinEx, one by one.

Dear CoinEx Community, Today, I am announcing that CoinEx will cease operations and begin an orderly wind-down. First, what matters most: your assets are safe. CoinEx’s reserve ratio exceeds 100%, and every user asset is fully backed and available for withdrawal. Withdrawals are open starting today and will remain open until December 22, 2026. Certain tokens may take slightly longer to process while funds are moved between cold and hot wallets, but every withdrawal request within the withdrawal period will be honored and processed. CoinEx officially went live on December 22, 2017. Exactly nine years later, on December 22, 2026, the platform will be formally closed. Nine years is a long time in crypto. Together, we lived through multiple bull and bear cycles, witnessed the rise and fall of countless projects, and watched many of our peers leave the market in one form or another. After much reflection, I have come to accept a hard truth. CoinEx did not become one of the industry’s leading exchanges, and the security and compliance risks of running a crypto exchange have become increasingly difficult to contain. Revenues can decline, responsibility does not. Carrying unlimited risk for limited revenue is no longer a rational choice. That said, CoinEx has survived nine years in one of the most volatile and unforgiving industries, weathered every storm, and is leaving intact, and with dignity. We may not have won the race, but we are finishing with honor. On CET: CoinEx will buy back CET at its initial listing price of 0.005 USDT per token, with no cap on quantity. To every CET holder who has supported us over the years, thank you. CET represents your belief in CoinEx and, for many of you, your belief in me personally. I am sorry that we were not able to create the long-term value we once hoped CET would deliver. The least we can do now is bring that chapter to a responsible conclusion. I did seriously consider selling CoinEx. Ultimately, I decided against it. Users entrusted their assets to CoinEx because they trusted the platform and, in many cases, trusted me personally. I did not feel that handing the platform and that trust to a new owner was the right way to end this journey. A clean ending is the right ending. Nine years, millions of users. I did not turn CoinEx into the “great” exchange I once hoped it would become. But I can give it a decent ending: making sure users can withdraw their assets in full, giving my employees a dignified farewell, and providing CET holders with a clear and responsible conclusion. This is the best ending I can give CoinEx. To everyone who traded with us, built with us, and stood by us through the hardest days of this market, thank you. It has been a privilege to walk this road with you. To the CoinEx team, thank you for building this platform with me, for carrying it across every cycle, and now for seeing it through to the very last day. For detailed arrangements, please refer to the official announcement: coinex.com/en/announcements/… Thank you all for nine years of trust. Haipo Yang Sept 15, 2026