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CoinEx

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CoinEx
Company typePrivate
IndustryCryptocurrency exchange
Founded2017
FounderViaBTC
Area served
Worldwide
ServicesCryptocurrency trading, blockchain services
Websitewww.coinex.com

CoinEx is a global cryptocurrency exchange founded in 2017 by blockchain mining pool ViaBTC. It lists cryptocurrencies for trading and issues the CoinEx Token (CET), used on the platform for fee discounts, staking, and governance.[1]

History

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CoinEx launched in 2017 as part of the ViaBTC Group, which was among early blockchain companies to publish proof-of-reserves.[2]

Following China's 2021 ban on cryptocurrency activities, CoinEx withdrew from the mainland market.[3]

Products and services

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In July 2025, it introduced CoinEx Vault, a self-custodial cold wallet for individuals and institutions, audited by firms including SlowMist.[4]

CET is used on the platform for trading fee reductions and governance, and follows a deflationary token burn model.[1]

Market research

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In August 2025, CoinEx Research issued a report on the U.S. GENIUS Act, noting market capitalization growth, Bitcoin price increases, and Ethereum gains.[2]

Philanthropy

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CoinEx Charity, founded in 2022, has supported projects in education, healthcare, disaster relief, and infrastructure.[5] In June 2023, CoinEx launched a programme across Asia and Africa to provide scholarships and learning materials for children in need.[6] Its Starlink Initiative installs satellite internet in underserved areas across multiple regions.[5] In March 2025, it provided Benin's National Water Institute with Starlink internet access.[7]

Sponsorships and events

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In February 2025, CoinEx participated in "Pasigarbo 2025" at Holy Name University in the Philippines.[8] In March 2025, it sponsored the National Chess Federation of the Philippines Championships and partnered with Anichess.[9][10]

Controversies

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In February 2023, the New York Attorney General Letitia James sued CoinEx for failing to register as a securities and commodities broker-dealer under the Martin Act.[11] The complaint alleged fraudulent practices and cited four tokens it considered securities.[12] The matter was resolved in June 2023 through a settlement in which CoinEx agreed to discontinue its services in the United States and enhance compliance measures.[13][14]

2023 security breach

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On 12 September 2023, CoinEx reported a breach in which over US$70 million in cryptocurrency was stolen from hot wallets.[15][16] Analysts including CertiK and Elliptic linked the attack to the Lazarus Group.[17] CoinEx said it would compensate affected users and develop a new wallet system.[15]

Awards

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  • Most Professional Cryptocurrency Exchange Global 2025 – World Business Outlook[18]
  • Best Crypto Trading Platform Global 2025 – World Business Outlook[18]

References

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  1. ^ a b "CoinEx Token (CET) – The Exchange Token in 2025". CoinSpeaker. Retrieved 28 October 2025.
  2. ^ a b "CoinEx Research July 2025 Report: GENIUS Signed Bitcoin ReACTs". GlobeNewswire. 7 August 2025. Retrieved 28 October 2025.
  3. ^ Kirimi, Arnold (29 October 2021). "Huobi closes crypto derivatives as part of wind-down for Chinese traders". Cointelegraph. Retrieved 2 November 2025.
  4. ^ "Stronger Security, Smarter Custody: CoinEx Launches CoinEx Vault". The Laotian Times. 18 July 2025. Retrieved 5 November 2025.
  5. ^ a b "CoinEx Global Fulfills CSR Commitment Through Charity Starlink Program in Sukamakmur and Sukajaya Villages". GlobeNewswire. 24 March 2025. Retrieved 31 October 2025.
  6. ^ "Give Wings to Dreams: CoinEx Charity Launches Grant for Fulfilling Dreams". Bitcoin News. 1 June 2023. Retrieved 6 November 2025.
  7. ^ "CoinEx Charity Powers Up Benin's National Water Institute with Free Starlink Internet". Tech Africa News. 14 April 2025. Retrieved 31 October 2025.
  8. ^ "CoinEx Participates in Pasigarbo 2025 in Bohol". BitPinas. Retrieved 2 November 2025.
  9. ^ "CoinEx Sponsors National Chess Championships in the Philippines". The Laotian Times. 6 March 2025. Retrieved 2 November 2025.
  10. ^ "CoinEx Sponsors National Chess Event That Would Send Filipinos to Asia-Wide Tournament, Partners with Anichess". BitPinas. Retrieved 2 November 2025.
  11. ^ Coghlan, Jesse (2023-02-23). "CoinEx crypto exchange sued by New York for failing to register with state". Cointelegraph. Retrieved 31 October 2025.
  12. ^ Kaaru, Steve (19 June 2023). "CoinEx exchange settles for $1.7M with NYAG, exits US". CoinGeek. Retrieved 31 October 2025.
  13. ^ Vanderford, Richard (2023-06-15). "CoinEx to Wind Down U.S. Operations After Settling New York Lawsuit". The Wall Street Journal. Retrieved 6 November 2025.
  14. ^ Stempel, Jonathan (15 June 2023). "CoinEx accepts New York ban, to pay $1.8 mln to resolve attorney general lawsuit". Reuters. Retrieved 6 November 2025.
  15. ^ a b Jenkinson, Gareth (2023-09-19). "CoinEx: Compromised private keys behind $70M hack". Cointelegraph. Retrieved 28 October 2025.
  16. ^ Howcroft, Elizabeth; Satter, Raphael (2023-09-15). "Blockchain analysts suspect N. Korea-linked hackers behind $70 mln crypto theft". Reuters. Retrieved 28 October 2025.
  17. ^ Lakshmanan, Ravie (2023-09-17). "North Korea's Lazarus Group Suspected in $240 Million Crypto Heist Spree". The Hacker News. Retrieved 13 August 2025.
  18. ^ a b "CoinEx Wins Two Prestigious Global Awards from World Business Outlook". GlobeNewswire. 25 March 2025. Retrieved 4 November 2025.
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