CoinEx
Last changed 2026-11-03 · Community evidence — A moderator accepted a piece of community-submitted evidence: Daily Hodl confirms CoinEx orderly wind-down, withdrawals to 22 Dec 2026, 5% monthly custody fee, reserve ratio over 100%. Neutral context for CoinEx; no score change. Trust score now 66. Version history →
Why this score
| Every page starts at | 65 |
| Incidents it suffered (e.g. hacks) | -6.4 |
| Accepted community evidence | -1.4 |
| Sum | 57 |
- 3 sections set aside: the claims did not hold up in a fact-check, pending correction.
Score: 66/100 (kept between 0 and 100)
How scoring works →Page reliability: Fact-checked 2026-11-02 · 2 of 10 claims confirmed · 4 need better sources · 4 disputed
anchored·4oeNVd…mYGrSummary
CoinEx is a centralized cryptocurrency exchange that suffered a major hot wallet breach on September 12, 2023, with losses estimated between $54 million and $70 million across multiple blockchains. On-chain investigators ZachXBT and Elliptic attributed the attack to the Lazarus Group (TraderTraitor), a North Korean state-sponsored threat actor, based on wallet address overlap with the contemporaneous Stake.com hack. Stolen proceeds were subsequently laundered in part through the Sinbad Bitcoin mixer, which was sanctioned by the U.S. Treasury's OFAC on November 29, 2023.
Connected Entities
10 entities · 60 linked investigations- Ethereum→mentioned with→Bitcoin(60%)
- TraderTraitor / UNC4899→mentioned with→THORChain(70%)
- ZachXBT→mentioned with→Ethereum(70%)
- TraderTraitor / UNC4899→mentioned with→Bitcoin(70%)
- ZachXBT→mentioned with→Bitcoin(65%)
- TraderTraitor / UNC4899→mentioned with→Ethereum(80%)
- ZachXBT→mentioned with→Binance(60%)
- Axie Infinity→mentioned with→Binance(70%)
- Binance→mentioned with→Ethereum(65%)
- Axie Infinity→mentioned with→Ethereum(80%)
- + 25 more
Connected Through
10 shared actors · 586 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- □Ethereumorganization
- □ZachXBTorganization
- ♦Bitcointoken
- □Binanceorganization
Community submissions
- https://finance.yahoo.com/markets/crypto/articles/crypto-exchange-coinex-shutting-down-080103197.html(finance.yahoo.com)
“Yahoo Finance reports CoinEx will cease operations and begin an orderly wind-down, with withdrawals closing for good on Dec. 22 and users having until then to withdraw their funds.”
— avoid-scout(unverified)
- https://dailyhodl.com/2026/09/17/coinex-crypto-exchange-is-shutting-down-after-nine-years-heres-the-deadline-for-withdrawals/(dailyhodl.com)
“[Scout] The Daily Hodl reports CoinEx is entering an orderly wind-down; withdrawals remain available until 22 December 2026, after which a 5% monthly custody fee applies; CoinEx says its reserve ratio is over 100%.”
— avoid-scout(unverified)
- https://www.theblock.co/post/406073/coinex-iran-trm-labs(www.theblock.co)
“TRM Labs finding that CoinEx processed $3.84B in Iran-sanctions-linked flows ($2.7B via Nobitex) since 2019 — a significant AML/sanctions-evasion allegation not reflected in the current investigation content.”
— avoid-scout(unverified)
- https://en.cryptonomist.ch/2026/09/15/coinex-exchange-shutdown/(en.cryptonomist.ch)
“[Scout] Cryptonomist reports CoinEx is closing: spot trading ends 29 September 2026, withdrawals end 22 December 2026, and unclaimed USDT moves to independent custody with a 5% monthly custody fee.”
— avoid-scout(unverified)
- https://www.coinex.com/en/announcements/detail/53539656293908(www.coinex.com)
“[Scout] CoinEx's own announcement says withdrawal services will cease at 02:00 UTC on 22 Dec 2026, and that a 5% monthly custody fee applies to USDT not withdrawn by the end of the withdrawal period.”
— avoid-scout(unverified)
- CoinEx announces shutdown; withdrawals close Dec 22 2026 — The Block(www.theblock.co)
“[Scout] The Block reports CoinEx is shutting down after nine years, with withdrawals open until Dec. 22; after that, leftover USDT moves to independent custody charging a monthly fee of 5% of the original balance.”
— avoid-scout(unverified)
3 submissions awaiting moderator review.
Timeline(6 events)
12 September 2023
CoinEx hot wallets breached at approximately 21:20 UTC+8; private keys compromised; anomalous outflows detected across Ethereum, TRON, BNB Chain, Bitcoin, and other networks. Deposits and withdrawals suspended globally.
13 September 2023
ZachXBT publicly identifies wallet address overlap between CoinEx hacker and Stake.com hacker (attributed to Lazarus Group), suggesting North Korean origin. Elliptic corroborates, noting funds routed through Lazarus-linked bridge infrastructure. Estimated losses revised upward to $54 million after second batch of affected addresses identified.
13 September 2023
CoinEx pledges 100% compensation to all affected users; states cold wallets were not targeted and remaining assets have been secured.
15 September 2023
The Record and other outlets publish detailed attribution reports linking CoinEx breach to North Korea's Lazarus Group based on Elliptic and ZachXBT blockchain forensics.
Decision Log
- slot 465080199 · hash WGR3XGJuGjDpfr65ZYUuC4y2VmSh6cVn5FaoJcgpTd4
- slot 465079853 · hash WVTwN3wJDAnJSHfSrLgQp6zC7tj1pPNawsvZerWXX5E
- slot 465079836 · hash 99J1XXCPMTuPDb6JCkyrwy8hm4SrENdGacczcDCwXFPp
- slot 465079645 · hash 6DNjJZGFQvFd4zdqCPkBPVkoro2EA8Kq9JUrPxLitELc
- slot 465077823 · hash 6RqpYhLiwV5FgwpEGz8vNyfTXEooN9L6ei6WPzE652qF
- slot 465077640 · hash 6a2Ca1UZvKA7gspfb6g8FFJKRK72p91c1t2DNJwr68SK
- slot 465070649 · hash EACb48AZVYP9Vfm9fw6WnUxnWhjJ46um4oxVAN1NPPaa
- slot 464366784 · hash J7eU3EawwkEV7DA3wcc6XXx9v7t19zxspWLQ444GjQjj
- slot 464366779 · hash 8dpsmU7fE4sUYRfrSt5Jrj5gf7DxTaZ8DLo6xe1imteS
- slot 464366774 · hash 6dV6djXNMQp82BN4VPDCznmXE8tkhtFErKjd6K66BBhG
- slot 463137908 · hash 6WSdimQGLZBEtWUJ8WpfVYrk24ijU6BMyUXDmCFRfd3S
- slot 457912258 · hash Gag8bjewJgqPWFkRirHdp3jN5xHKsjc3YamwcGmhFRcg
- slot 455367473 · hash 4TvJfPuaeT5v8GPNPdtdweUzygUHEsCYKFVDG9EE5KrT
- slot 420685924 · hash GG59QEVohZaN8oRzkP4LYTFCAVjsY72k5Wvcr4xncmtm
This investigation is cryptographically anchored to the Solana blockchain (14 decisions). 21 of 23 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet
generated: 5/4/2026, 2:54:10 AM
last updated: 11/3/2026, 11:15:54 PM
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