CoinEx announces compensation after technical delisting error
CoinEx compensates users for losses after delisting delay
The cryptocurrency exchange CoinEx has issued a formal apology following a delay in the delisting of several tokens, which led to financial losses for users.
According to CoinEx, trading services for the tokens HOBBES, EXFI, EDOGE, OMOCHI, REMILIA, BILL, BOZO, FLAVIA, and XD were originally scheduled to be discontinued on December 31, 2024, at 8:00 UTC. However, due to technical issues, the delisting did not take effect until January 1, 2025, at 19:00 UTC.
This unexpected delay allowed trading of the soon-to-be-delisted tokens to continue, causing some users to unknowingly purchase these assets. As a result, many incurred financial losses when the tokens were ultimately removed from the platform.
Compensation plan for users
In response to this incident, CoinEx has announced a compensation plan for affected users, reaffirming its commitment to the principle "Users First." The exchange will compensate users who purchased and held the delisted tokens between 8:00 UTC on December 31, 2024, and 19:00 UTC on January 1, 2025.
Compensation will be issued in USDT and calculated based on the net purchase value—the total value of purchased tokens minus the sale value during the specified period. CoinEx confirmed that the compensation amount has already been credited to users' spot accounts.
Strengthening user trust and key takeaways
CoinEx emphasized that user trust remains a cornerstone of its operations and expressed gratitude for the ongoing support of its community. The company assured users that additional measures will be implemented to prevent similar errors in the future.
This incident highlights the importance of transparent communication and prompt corrective action in the cryptocurrency exchange industry. By compensating users for their losses, CoinEx aims to maintain its reputation and strengthen its relationship with its customers.
It is worth noting that at the end of 2024, CoinEx launched a new educational platform, CoinEx Academy, designed to help users navigate the complex world of blockchain and crypto trading.
