CoinEx Founder: The security and compliance risks of operating a CEX are becoming increasingly difficult to control, and CET tokens will be repurchased at the initial listing price.

BlockBeats news, September 15: CoinEx founder Yang Haipo, in a post on X regarding the platform's shutdown, stated that the shutdown was "a decision made after careful consideration, and one that forces us to accept a harsh reality." CoinEx failed to become one of the industry's leading CEXs, and the security and compliance risks of operating a cryptocurrency CEX have become increasingly difficult to control. Revenue may decline, but responsibility will not. Taking on unlimited risk in exchange for only limited revenue is no longer a rational choice.

Regarding the CET token, Yang Haipo promised that CoinEx will buy back CET at the initial listing price of 0.005 USDT per token, with no cap on the quantity.

Yang Haipo revealed that he had seriously considered selling CoinEx. But ultimately decided to abandon that idea. "Users entrusted their assets to CoinEx because they trusted this platform, and in many cases, they also trusted me personally. I feel that handing the platform and this trust to a new owner is not the right way to end this journey. A clean ending is the right ending."