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CoinEx Exchange
Global centralized exchange launched in 2017 with spot, perpetuals, AMM pools and CET fee discounts
3.3/ 5
Our score
Fair
Accepts US customers
No
Proof of reserves
Yes
What is CoinEx Exchange?
CoinEx is a centralized cryptocurrency exchange offering spot trading, perpetual contracts, margin facilities, and automated market making liquidity pools. Founded in December 2017, the platform operates as a subsidiary of the ViaBTC Group, supporting hundreds of digital assets alongside native token utilities.
Team and background
Software engineer Haipo Yang founded the exchange after launching the ViaBTC mining pool in 2016. Originally established in Hong Kong, the company later shifted its headquarters to Seychelles. ViaBTC Group oversees the exchange alongside its mining operations, providing technical backing.
Trading mechanics and products
CoinEx provides custodial trading across spot markets and USDT-margined perpetual futures with configurable leverage. Users can access margin borrowing, token swaps, and automated market making (AMM) pools that distribute trading fees to liquidity providers. Yield offerings include fixed and flexible savings products alongside crypto loans. The native CET token is the platform utility asset, conferring VIP tier acceleration and trading fee discounts.
Fiat and licensing
Direct fiat deposits rely on third-party payment gateways including Paybis and Swapix, which support credit cards and local payment methods. CoinEx holds an operating license from Estonia's Financial Intelligence Unit obtained in November 2019 and a Virtual Asset Service Provider registration in Poland. Services remain unavailable to United States residents following a $1.7 million settlement with the New York Attorney General in June 2023.
Security and operational track record
The exchange publishes monthly proof of reserves. CoinEx also implements two-factor authentication and an internal risk reserve fund. In September 2023, the platform suffered a hot wallet compromise attributed to the Lazarus Group that resulted in the theft of approximately $54 million. Custodial risks, regulatory prohibitions in North America, and variable third-party payment gateway spreads represent operational factors for account holders.
Founders
Haipo YangFounder and CEO
Software engineer who established the ViaBTC mining pool in 2016.
Best for:Non-US altcoin tradersPerpetual futures and margin tradersUsers providing AMM liquidity
Pros and cons
Pros
- Published monthly proof of reserves verification reports
- AMM liquidity pools let users earn shares of trading fees
- Licensed as an operating exchange in Estonia and registered in Poland
- Wide asset selection spanning hundreds of spot and perpetual markets
Cons
- Permanently barred from operating in the United States
- Suffered a $54 million hot wallet exploit in September 2023
- Fiat on-ramps require third-party providers with external fee structures
- No registration or licensing in the United Kingdom, Australia, or Japan
Our review
3.3/5
Fair
CoinEx offers broad altcoin coverage, perpetuals, and AMM pools, but carries custodial risk and excludes United States residents.
Founded in December 2017 by software engineer Haipo Yang, CoinEx is a centralized cryptocurrency exchange operating under the ViaBTC Group umbrella. Originally set up in Hong Kong, the exchange relocated its legal base to Seychelles while securing European registrations including an Estonia FIU operating license and a Polish VASP registration. The platform targets international retail traders with an extensive product lineup that spans spot trading across hundreds of crypto pairs, USDT and USDC perpetual futures, margin positions, and built-in automated market making pools.
The platform's primary appeal lies in its diverse market types and passive income options. Users can trade pre-listing tokens, take out collateralized crypto loans, or commit liquidity to AMM pools to collect trading fee dividends alongside standard flexible and fixed earn subscriptions. Fee discounts and VIP status are driven by holding the exchange's native CoinEx Token (CET). Fiat purchases are routed through integrated third-party providers such as Paybis and Swapix rather than direct banking rails, which introduces variable partner spreads and fees.
Regulatory and custodial track records present notable trade-offs. In June 2023, CoinEx settled with the New York Attorney General for $1.7 million, resulting in the forfeiture of its U.S. operations and a permanent ban on American accounts. In September 2023, the platform suffered a hot wallet compromise attributed to the Lazarus Group, resulting in the theft of approximately $54M across multiple assets. While CoinEx maintains monthly Proof of Reserves publications and retains an internal risk reserve fund, it lacks registrations in top-tier jurisdictions such as the United Kingdom, Japan, or Australia.
CoinEx suits non-U.S. altcoin traders seeking diverse derivative pairings and AMM-style yield on a centralized interface. Traders requiring direct local fiat bank deposits, strict Tier-1 regulatory supervision, or residency access in the United States must look to alternative platforms.
Specs
| Markets | Spot, Futures, Margin · unverified |
|---|---|
| Fiat deposit methods | Card · unverified |
| Accepts US customers | No · unverified |
| Proof of reserves | Yes · unverified |
| Staking / earn | Yes · unverified |
| Mobile app | Yes · unverified |
| Licenses & registrations | Estonia FIU crypto operating license, Poland VASP · unverified |
| Security features | 2FA, Cold storage segregation, Anti-phishing code, Device management, Risk reserve fund · unverified |
| Futures & perpetuals | Yes · unverified |
| Copy trading | No · unverified |
| P2P market | No · unverified |
| Earn / savings products | Yes · unverified |
| User protection fund | Yes · unverified |
| Referral program | Yes · unverified |
Not disclosed by the provider: Maker fee, Taker fee, Coins listed, KYC required, Max leverage (x).
Data from the provider's website and public sources. Fees and availability change; confirm on the official site before you sign up.
Key features
Perpetual futures markets
Trade USDT-margined and USDC-margined perpetual contracts with adjustable leverage across major pairs.
AMM liquidity pools
Provide liquidity to automated market maker pools to earn a proportional share of trading fees.
Yield and earn accounts
Earn returns on major assets via flexible savings, fixed-term products, and structured dual investments.
Third-party fiat gateway
Buy crypto with debit cards or regional payment channels through integrated providers like Paybis and Swapix.
Collateralized crypto loans
Borrow stablecoins and primary cryptocurrencies against supported digital collateral with flexible terms.
Proof of reserves reporting
Access monthly reserve verification reports to check exchange reserve ratios.
Inside CoinEx Exchange
Spot Exchange
The primary spot market providing order-book trading across hundreds of digital asset pairs with standard limit and market execution.
Futures
Perpetual contracts settled in USDT and USDC that allow traders to take long or short positions with configurable leverage.
Margin
Leveraged spot trading allowing users to borrow assets directly within spot pairs to amplify position sizes.
Quick Buy
A fiat on-ramp interface routing purchases through payment cards and third-party partners like Paybis and Swapix.
AMM
Liquidity pools where users can supply token pairs to earn a share of platform trading fees as automated market makers.
Earn
Yield products offering flexible-term savings, fixed-term interest deposits, and dual-currency structured investment contracts.
Crypto Loans
Collateralized borrowing services allowing users to pledge major cryptocurrencies for stablecoin liquidity with flexible repayment schedules.
What users say about CoinEx Exchange
Specific praise is limited, mainly describing a simple, user-friendly wallet interface. Complaints are more numerous, focusing on blocked or delayed transfers, unresponsive customer support, app crashes, and failed transactions.
In their own words
“Useful Does exactly what it says on the tin, easy to use crypto wallet for most coins”
“Great wallet Fast and user friendly Bitcoin BTC wallet. Allows you to adjust fees on a sliding scale.”
“To the CoinEx staff: my USDT deposit of 2,556.8—transferred from HTX to CoinEx—has not been credited. They cited an "asset review" and requested supporting documents regarding the initial fund transfer and proof of wealth.”
“coinex team really needs to step up with clearer communication, the lack of answers is frustrating for users”
“12.5.5更新后闪退进不去，麻烦处理一下，谢谢 12.5.5闪退”
Based on 100 Reddit posts and comments, 11 App Store reviews from the last 12 months, checked Oct 20, 2026. These are posts by users on other sites, not reviews submitted on CryptoReview.
User reviews
No user reviews yet. Have you used CoinEx Exchange? Share your experience below.
FAQ
Who founded CoinEx Exchange?
Haipo Yang founded CoinEx in December 2017. He is a software engineer who previously launched the ViaBTC mining pool in 2016.
Can US residents use CoinEx?
No, CoinEx does not accept US residents. Following a June 2023 settlement with the New York Attorney General, the exchange permanently ceased all operations in the United States.
Has CoinEx ever been hacked?
Yes, CoinEx experienced a hot wallet compromise in September 2023. Attackers associated with the Lazarus Group stole approximately $54 million before the exchange contained the breach.
Does CoinEx have a native cryptocurrency?
Yes, CoinEx operates the CoinEx Token (CET). Holding CET provides trading fee discounts, VIP tier progression, and platform rewards.
What trading products does CoinEx offer?
CoinEx provides spot trading, USDT and USDC perpetual futures, margin trading, and pre-token markets. It also features automated market making (AMM) liquidity pools and crypto loans.
Does CoinEx provide Proof of Reserves?
Yes, CoinEx publishes monthly Proof of Reserves reports accessible through its help center and official website. The platform also isolates user assets with hot and cold wallet segregation.
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