VASPCheck

VASP Compliance Summary — CoinEx

CoinEx Global Ltd · Exchange · Seychelles

Exported 2026-08-25

Data reviewed 2026-08-02

Overview

Compliance snapshot

Overall regulatory statusNot licensed

EU MiCA statusNo EU authorization

No EU, UK or US exchange authorization disclosed
Barred from serving New York residents under a 2023 settlement
Trustpilot 2.9/5 · 1,010 reviews
September 2023 hot-wallet theft of roughly USD 70m

High concern

Offshore venue with thin licensing, a USD 70m wallet compromise in 2023 attributed to a state-linked actor, and a New York settlement that bars it from serving the state.

Authorizations

Licenses & registrations

Jurisdiction	Regulator	Authorization	Status	Reference	Granted
Seychelles	Financial Services Authority Seychelles FSCA · https://fsaseychelles.sc/regulated-entities	VASP registration	Registered	VASP-SC-2021-039	2021-10-12

Reputation

Reputation scores

Trustpilot-style score2.9 / 5

Reviews1,010

App Store3.9

Google Play3.6

12-month trendflat

Press sentiment (12m)+2 / ~3 / −6

Media

Recent press

Date	Source	Headline & summary	Sentiment
2026-05-19	CoinDesk	CoinEx rebuilds wallet architecture The venue described segregation changes made since the 2023 breach.	Neutral
2026-02-17	Reuters	Offshore venues remain outside EU perimeter CoinEx was among operators without a MiCA application on file.	Negative
2025-11-24	Bloomberg	State-linked hacking of exchanges persists Analysts tied further thefts to the group blamed for the CoinEx breach.	Negative
2025-07-09	Financial Times	US state enforcement reshapes access The 2023 New York settlement continued to limit US market access.	Negative
2025-03-06	CoinDesk	CoinEx publishes reserve snapshot A self-reported wallet snapshot was released.	Neutral

Risk events

Incidents & enforcement

Date	Type	Amount	Description
2023-09-12	Hack	USD 70,000,000	Hot-wallet compromise attributed by investigators to the Lazarus Group; the venue said user balances were covered.
2023-12-12	Enforcement	USD 1,700,000	Settlement with the New York Attorney General over unregistered securities and commodities trading; the venue is barred from serving New York residents.

Profile

Key facts

Founded2017

Websitecoinex.com

Fiat currenciesUSD

Proof of reservesPartial

Custody modelOmnibus wallets, self-reported snapshots

Legal entitiesCoinEx Global Ltd (SC) · Viabtc Technology Ltd (HK)

CoinEx

Not licensedNo EU authorizationESMA register

CoinEx Global Ltd

Exchange🇸🇨 Seychelles Founded 2017coinex.com

Visit website

Last reviewed

2026-08-02

Compliance snapshot

No EU, UK or US exchange authorization disclosed
Barred from serving New York residents under a 2023 settlement
Trustpilot 2.9/5 · 1,010 reviews
September 2023 hot-wallet theft of roughly USD 70m

Overall concern

High concern

Offshore venue with thin licensing, a USD 70m wallet compromise in 2023 attributed to a state-linked actor, and a New York settlement that bars it from serving the state.

Regulatory

Licenses & registrations

Jurisdiction	Regulator	Authorization	Status	Reference	Granted
🇸🇨 Seychelles	Financial Services Authority SeychellesFSCA	VASP registration	Registered	VASP-SC-2021-039	2021-10-12

🇸🇨 Seychelles
Registered
VASP registration
Financial Services Authority SeychellesFSCA
VASP-SC-2021-0392021-10-12
Verify at source

User signals

Reputation

Trustpilot-style score

2.9/ 5

2.9

1,010 reviews

Stable (12m)

App ratings

App Store: 3.9
Google Play: 3.6

Press sentiment (12m)

Positive2

Neutral3

Negative6

Media

Recent press

2026-05-19
CoinEx rebuilds wallet architectureNeutral
CoinDesk — The venue described segregation changes made since the 2023 breach.
2026-02-17
Offshore venues remain outside EU perimeterNegative
Reuters — CoinEx was among operators without a MiCA application on file.
2025-11-24
State-linked hacking of exchanges persistsNegative
Bloomberg — Analysts tied further thefts to the group blamed for the CoinEx breach.
2025-07-09
US state enforcement reshapes accessNegative
Financial Times — The 2023 New York settlement continued to limit US market access.
2025-03-06
CoinEx publishes reserve snapshotNeutral
CoinDesk — A self-reported wallet snapshot was released.

History

Incidents & enforcement

2023-09-12HackUSD 70,000,000
Hot-wallet compromise attributed by investigators to the Lazarus Group; the venue said user balances were covered.
2023-12-12EnforcementUSD 1,700,000
Settlement with the New York Attorney General over unregistered securities and commodities trading; the venue is barred from serving New York residents.