BitMEX Exchange Announces Shut Down, Ending 11-Year Run
Crypto alternate BitMEX will shut down on September 23, 2026, at 04:00 UTC. The workforce introduced the closure on Thursday, saying the choice was made after a strategic overview of the enterprise and the market.
The Seychelles-based agency instantly halted all new account registrations. It advised customers to shut positions and withdraw funds effectively earlier than the deadline.
What the BitMEX Shutdown Means for Users
BitMEX set a phased wind-down earlier than the ultimate date. From August 26, 04:00 UTC, it should block new positions and permit solely reductions.
The alternate will then force-close any open trades. Any positions left open at closure will likely be routinely closed.
“All customers are on discover that BitMEX might drive shut positions as described above at its sole discretion, and takes no duty for any buying and selling losses that consequence from customers’ lack of ability to shut their positions between now and the Closure Time,” the blog learn.
Unwithdrawn balances additionally carry a value. Users who’ve accomplished Know Your Customer (KYC) verification however don’t withdraw their property earlier than the platform’s closure deadline will likely be topic to a charge. The month-to-month charge will likely be primarily based on whichever is greater: $50 equal or 1% per 12 months of the remaining account stability.
BitMEX unstaked all BMEX Token (BMEX) holdings and returned them to accounts. It additionally warned merchants about scams tied to the information.
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A Pioneer of Crypto Derivatives Winds Down
The board of HDR Global Trading Limited, proprietor of the alternate, determined to shut it after “strategic overview of the enterprise and and the broader crypto industry.”
“We proceed to take pleasure in our sturdy safety posture, which, in contrast to lots of our friends, has resulted in BitMEX experiencing zero funds misplaced to hacks throughout its complete working historical past of over 11 years,” the workforce added.
Nonetheless, the alternate carries a heavy authorized document. Founders Arthur Hayes, Ben Delo, and Samuel Reed pleaded guilty in 2022 to Bank Secrecy Act violations for “willfully failing to determine, implement, and preserve an anti-money laundering program at BitMEX.
The firm itself pleaded responsible in July 2024. BitMEX was fined $100 million and ordered 2 years of probation in January 2025.
President Trump pardoned the corporate, its three founders, and former govt Gregory Dwyer in March 2025.
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