Is CoinEx reliable for storing large amounts of crypto long-term without facing withdrawal issues?

CoinEx offers a wide range of crypto services, but there are concerns about its reliability for long-term storage of large amounts.

Users on Xolvie have reported serious withdrawal issues such as rejected requests and frozen accounts with little to no support from customer service.

One user claimed they couldn’t withdraw 778 USDT and received warnings their funds might be lost.

In 2023, CoinEx suffered a $70 million hack targeting its hot wallets. While the exchange promised full compensation and noted that cold wallets were unaffected, the breach raised doubts about overall security practices.

Withdrawals were temporarily suspended following the incident.

Though CoinEx supports many cryptocurrencies and has an easy-to-use platform, these issues suggest it may not be the safest option for long-term storage of large holdings.

Users should carefully weigh security and customer support before trusting it with significant assets.