# CoinEx

> Source: https://fuckyc.org/services/coinex/
> Website: https://www.coinex.com/
> Categories: CEX (no/threshold KYC)
> KYC: tiered — Historically permitted low-volume trading and withdrawal without identity verification; KYC asks have been seen at higher tiers and on certain geographies.
> Status: active
> Jurisdiction: Hong Kong (operator-disclosed)
> Fiat on-ramp: no
> Payment methods: crypto
> Founded: 2017
> Open source: no
> Custodial: yes
> Last verified: 2026-01-01

## Verdict

CoinEx is one of the older mid-tier CEXes that has been usable without KYC up to thresholds. Same category caveats as MEXC and BingX apply. The 2023 incident is a relevant data point on operator risk; the response (full reimbursement) was relatively quick. Treat tier limits as moving.

## Strengths

- Long operating history; one of the older Chinese-roots CEXes.
- Decent spot coverage on mid-cap listings.

## Caveats

- Custodial exposure.
- Tier thresholds and KYC enforcement are operator-managed and have moved.
- A September 2023 hot-wallet hack (~$70M reported) is the most material historical incident; user funds were reimbursed but it is the kind of event that informs operator risk-aversion thereafter.
- Facts need re-verification by operator (last seeded 2026-01).

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## What CoinEx is

A mid-tier centralized exchange with a tiered-KYC model and spot-focused product.

## Threat-model fit

Liquidity venue, not a privacy primitive.

## Sources

- [CoinEx help center](https://www.coinex.com/help) — accessed 2026-01-01
- [KYCnot.me — CoinEx entry](https://kycnot.me/service/coinex) — accessed 2026-01-01