BitMEX to Shut Down on Sept. 23, 2026

Crypto derivatives venue BitMEX will end operations on Sept. 23, 2026, after parent company HDR Global Trading Limited decided to close the platform following a strategic review of its business and the broader digital asset market, the company said in a Thursday announcement. The exchange has already stopped accepting new user registrations. BitMEX highlighted its role in creating the 100x-leverage perpetual swap, calling it the most traded product in crypto, and said it remains proud of its security record, noting it has not lost customer funds to hacks over more than 11 years of operation. Trading will continue during the winddown, with new limits set to begin Aug. 26. From that date, traders will only be allowed to reduce existing positions and will not be able to open new ones. BitMEX said it will gradually force-close remaining positions ahead of the Sept. 23 deadline to support an orderly shutdown, and any positions still open at the official closure time will be closed automatically. The company added that illiquid contracts may be settled early under existing settlement procedures. After the exchange closes, users will be able to access accounts only to view balances, review transaction history, and withdraw remaining assets. BitMEX also said it has unstaked all BMEX tokens previously held in staking, making them immediately available to holders. Customers who do not withdraw funds before the deadline and have completed KYC will be subject to ongoing custody fees of at least $50 or 1% per year, billed monthly, with the possibility of higher charges in the future following prior notice. The exchange also warned of phishing attempts tied to the closure announcement and said enhanced withdrawal reviews and blockchain confirmation delays could temporarily slow withdrawals.