A comprehensive review of CoinEx exchange's credibility and security

  CoinEx was founded in 2017 by Yang Haipo (Yang Haipo), a Chinese entrepreneur with a long track record in the blockchain industry. Haipo, who had previously worked on Bitcoin mining projects, launched CoinEx with the aim of creating a fast, user-friendly trading platform. From the outset, the exchange focused on rapid expansion and within a few years reached more than 10 million users in 200 countries.

  CoinEx began with spot trading and quickly added futures, margin and staking. One of its distinguishing features is the launch of ViaBTC (a mining pool) and CoinEx Chain (a proprietary blockchain), which together form a complete ecosystem. This integration sets CoinEx apart from ordinary exchanges and reflects the founders' long-term vision.

CoinEx, originally registered in Hong Kong as COINEX TECHNOLOGY LIMITED, moved its operational headquarters to Seychelles after regulations tightened in China. Even so, the exchange has kept its registered address in Hong Kong and continues to offer its services internationally. This strategic relocation, combined with a focus on emerging markets, has contributed to its steady growth. One drawback of this exchange for Iranian users is that a VPN is required to make any trade.

 The domain coinex.com has been active since 2017, and a lifespan of more than 8 years is a sign of stability. The website, with a valid SSL certificate and fast loading speed, offers a good user experience. According to SimilarWeb, its monthly traffic is around 20 million visitors, mainly from Asia, Europe and Latin America.

 In terms of updates, CoinEx regularly releases new versions of its app and website. For example, in 2025, security updates were rolled out and NFT and DeFi trading were added. CoinEx exchange's ranking on CoinMarketCap is usually among the top 30-50 exchanges worldwide, and CoinEx exchange's trading volume exceeds $1 billion per day - a significant figure that ensures high liquidity. Continuous updates and transparent statistics have kept the CoinEx crypto exchange in a professional position.

It is worth noting that CoinEx intends to gradually shut down its exchange operations. Services other than spot trading were discontinued as of 22 September 2026; spot trading will also end on 29 September, but asset withdrawals will remain possible until 22 December 2026. Therefore, the website being accessible does not mean the exchange is continuing normal operations. Users who hold assets on CoinEx should check the withdrawal status of their cryptocurrencies and make a decision before the announced deadline.

In 2021, the CoinEx exchange received an MSB license (registration number 31000205463717) from the US FinCEN (the Financial Crimes Enforcement Network of the Treasury Department), which made its wallet and trading services legal. However, in February 2023 it faced a legal crisis when the New York Attorney General sued CoinEx for failing to register officially in the state and for selling cryptocurrencies that were considered «illegal securities» under US law (such as AMP, LBC, LUNA and RLY). In June 2023, CoinEx reached a settlement with the New York court. Under this official settlement, CoinEx was ordered to pay a $1.7 million fine, returned all assets of US users and committed to fully and permanently stopping its operations throughout the United States. As a result of this ruling, CoinEx's US MSB license was officially revoked and invalidated. 

The exchange currently holds a Virtual Currency Exchange license from Estonia, which requires AML/CTF compliance.

 
The CoinEx protection fund (10% of fees) is activated in times of crisis, and its partnership with SlowMist (a blockchain security company) provides independent oversight. The CoinEx exchange ranking (64-71 globally) is calculated based on trading volume, number of cryptocurrencies and Open Interest.

The licenses are average to good, but the lack of top-tier licenses (SEC/FCA) is considered a weakness. Even so, the US MSB and Estonian licenses are sufficient for emerging markets.