CoinEx review
CoinEx is a centralized cryptocurrency exchange founded in December 2017 in Hong Kong by Haipo Yang, an early Bitcoin investor who also founded the ViaBTC mining pool. It offers spot trading, margin trading up to 10x and perpetual futures up to 100x leverage, with CoinGecko listing 859 coins across 1,108 trading pairs. CoinEx is registered in Samoa, has no identified regulatory authorization, and is restricted in 40+ countries including the US, Canada, Hong Kong SAR, the EU, UK and Switzerland. KYC is optional, with unverified accounts capped at roughly $10,000 in daily withdrawals. The exchange lost about $70 million to a hot-wallet hack in September 2023. In June 2026, blockchain analytics firm TRM Labs alleged CoinEx facilitated $3.84 billion in flows with more than 60 sanctioned Iranian crypto platforms since 2019; CoinEx disputes the findings.
CoinEx key facts
- Website: www.coinex.com
- Category: Centralized cryptocurrency exchange (CEX)
- Founded: December 2017 in Hong Kong, by Haipo Yang
- Headquarters: Registered in Samoa; founded in Hong Kong, widely reported to now operate from Seychelles
- Regulatory status: No regulatory authorization identified; restricted in 40+ countries including US, Canada, Hong Kong, EU, UK, Switzerland
- Products: Spot trading, margin up to 10x, perpetual futures up to 100x
- Trading fees: Base spot fee around 0.1% maker/taker; varies with VIP level and CET token holdings
- KYC policy: Optional; unverified accounts capped near $10,000/day and $50,000/month in withdrawals
- 2026 sanctions allegation: TRM Labs alleges $3.84B in flows with sanctioned Iranian crypto entities since 2019; CoinEx disputes this
- FYI Score: 79.9/100 (ranked #20 of the 48 crypto exchanges we track)
Trading fees
- Base spot trading fee around 0.1% maker/taker, per CoinGecko's exchange data
- Final fee rate depends on VIP level and CoinEx's own CET token holdings
- Deposits are free; withdrawal fees vary by cryptocurrency
Supported assets
- CoinGecko lists 859 coins across 1,108 trading pairs
- CoinEx's own site claims over 1,300 cryptocurrencies and 1,900+ trading pairs, plus roughly 200 futures markets
- Founded out of ViaBTC, a major Bitcoin mining pool, giving it early ties to the mining industry
Products
- Spot trading and margin trading up to 10x leverage
- Perpetual futures contracts with leverage reported from 3x up to 100x
- Optional KYC: unverified accounts can withdraw up to roughly $10,000 per day and $50,000 per month; full verification raises limits substantially
Security & regulation
- No regulatory authorization identified for the exchange, per CoinGecko's exchange assessment; registered in Samoa
- Restricted in 40+ countries, including the US, Canada, Hong Kong SAR, the EU, UK and Switzerland
- Lost roughly $70 million to a hot-wallet private-key compromise in September 2023, widely reported as linked to North Korea's Lazarus Group; CoinEx suspended withdrawals temporarily and said it would fully compensate affected users
- In June 2026, blockchain analytics firm TRM Labs alleged CoinEx facilitated $3.84 billion in flows with more than 60 sanctioned Iranian crypto platforms since 2019, including roughly $2.7 billion with Iran's largest exchange Nobitex and smaller amounts linked to the IRGC and Palestinian Islamic Jihad; CoinEx disputed the findings and said it began exiting Iran-related exposure after related US Treasury sanctions
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Who CoinEx is for
CoinEx offers a wide coin selection and an optional-KYC signup that suits users prioritizing privacy and quick onboarding, but it carries no confirmed regulatory authorization, is blocked in 40+ countries, and is presently disputing a serious sanctions-related allegation -- all of which matter more than fee levels when assessing counterparty risk.
Pros
- Wide asset selection: CoinGecko lists 859 coins across 1,108 pairs, with CoinEx's own site claiming over 1,300 coins and 1,900+ pairs
- Optional KYC with meaningful unverified withdrawal limits, appealing to users prioritizing privacy and fast onboarding
- Long operating history since 2017, with roots in ViaBTC, an established Bitcoin mining pool
- Says it fully compensated users and rebuilt its wallet infrastructure after its 2023 hot-wallet hack
Cons
- In June 2026, blockchain analytics firm TRM Labs alleged CoinEx facilitated $3.84 billion in transactions with sanctioned Iranian crypto entities since 2019, including exposure linked to Iran's Central Bank, the IRGC and Palestinian Islamic Jihad; CoinEx disputes the findings but the allegation is recent and unresolved
- Lost roughly $70 million to a hot-wallet hack in September 2023, suspected to involve North Korea's Lazarus Group
- No regulatory authorization identified for the exchange itself; registered offshore in Samoa and restricted in 40+ countries including the US, Canada, Hong Kong, the EU, UK and Switzerland
- Optional-KYC model, while convenient for users, is the type of policy regulators scrutinize for anti-money-laundering exposure, a concern underscored by the 2026 Iran-related allegations
CoinEx FAQ
Is CoinEx regulated?
No regulatory authorization has been identified for CoinEx, per CoinGecko's exchange assessment. It is registered in Samoa, was originally founded in Hong Kong, and is widely reported to now operate from Seychelles. It is restricted in 40+ countries, including the US, Canada, Hong Kong SAR, the EU, UK and Switzerland.
Has CoinEx been hacked?
Yes. In September 2023, CoinEx lost roughly $70 million from a hot-wallet private-key compromise widely reported as linked to North Korea's Lazarus Group. CoinEx suspended withdrawals temporarily, rebuilt its wallet infrastructure, and said it would fully compensate affected users.
What is the 2026 Iran sanctions allegation against CoinEx?
In June 2026, blockchain analytics firm TRM Labs published a report alleging CoinEx facilitated $3.84 billion in cryptocurrency flows with more than 60 sanctioned Iranian crypto platforms between 2019 and 2026, including roughly $2.7 billion with Iran's largest exchange, Nobitex, and smaller amounts linked to the IRGC and Palestinian Islamic Jihad. CoinEx disputed the findings, stating it never had a commercial relationship with Iranian government-related entities and had begun exiting Iran-related exposure after related US Treasury sanctions on four Iranian exchanges.
Does CoinEx require identity verification (KYC)?
KYC is optional. Unverified accounts can withdraw up to roughly $10,000 per day and $50,000 per month; completing identity verification raises those limits substantially, reportedly to around $1 million per day on verified accounts.
Compare CoinEx with other crypto exchanges
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