CoinEx
CET
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
CET (CoinEx Token) functions as the centralized utility token for the CoinEx cryptocurrency exchange. Its primary strengths lie in its structured deflationary tokenomics, which utilizes 20% of daily trading fee revenue to execute monthly buyback-and-burn cycles, having removed over 7.1 billion tokens to date. However, the token exhibits severe structural weaknesses across all other domains. Community support is very low (score 2.0/10) with under 3,400 on-chain holders, absent DAO/governance participation, and sharp multi-year price declines. Market metrics reflect severe single-venue dependence with extremely thin daily volume ($38K–$55K) and conflicting market cap figures across data aggregators. Furthermore, development and governance remain entirely centralized and closed-source. On the security front, the exchange suffered a major hot wallet exploit in September 2023 totaling approximately $70M (attributed to Lazarus Group), alongside regulatory enforcement actions in New York. While CoinEx remediated the breach, covered user losses, and underwent an infrastructure audit by Hacken in April 2025, CET remains tightly constrained by low external liquidity, centralized issuer reliance, and weak market traction.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About CoinEx (CET)
CoinEx Token (CET) is the native utility token of the CoinEx cryptocurrency exchange, introduced in January 2018 by founder and CEO Haipo Yang. CET operates on the Ethereum blockchain as an ERC-20 token and serves multiple internal functions within the trading platform, including fee discounts across tiered VIP levels, staking opportunities, margin interest discounts, and trading fee rebates. The token employs a deflationary tokenomics model with an initial supply of 10 billion tokens, supported by a mechanism where 20% of the platform's daily trading fee income is allocated toward repurchasing and burning CET on a monthly basis, having burned over 7.1 billion tokens to date.
Governance and technical development for CET are centralized and managed directly by CoinEx rather than through a decentralized autonomous organization or on-chain voting framework. The token exhibits a relatively small on-chain holder base and limited market liquidity outside the CoinEx platform itself, with daily trading volume concentrated largely on the native exchange. In April 2025, cybersecurity firm Hacken completed a security audit of CoinEx's web application programming interface (API), while the exchange also operates a public vulnerability bounty program.
The project and its issuing platform have experienced notable security and regulatory challenges. On September 12, 2023, CoinEx suffered a major hot wallet compromise caused by leaked private keys, resulting in the theft of an estimated $70 million in digital assets across multiple blockchains, an attack attributed by blockchain security firms to North Korea's Lazarus Group. CoinEx temporarily halted platform withdrawals, committed to covering all affected user assets in full, and subsequently rebuilt its wallet infrastructure before restoring operations. Additionally, the platform faced regulatory enforcement in the United States, culminating in a New York state ban and the seizure of $1.7 million in cryptocurrency assets.