Key Takeaways:
BitMEX will shut down Sept. 23, 2026, after parent HDR Global Trading Limited decided to close the 11-year-old crypto derivatives exchange following a strategic review.
"We want to reassure you that your assets remain fully safe and under your control during this transition period," BitMEX said in a statement to users.
The Seychelles-based exchange immediately halted new registrations. From Aug. 26, traders can only reduce existing positions, with no new positions allowed. BitMEX will force close outstanding positions ahead of the Sept. 23 deadline to ensure an orderly market wind-down. The exchange said it maintained a record of zero customer funds lost to hacks over its 11-year operating history.
Users who fail to withdraw funds before the deadline and have completed KYC verification will face custody charges of at least $50 or 1% annually, billed monthly. BitMEX also unstaked all BMEX tokens held in staking, making them immediately available to holders, and warned users about phishing attacks exploiting the shutdown announcement.
The exchange invented the 100x leverage perpetual swap, now the most traded product in crypto and adopted by thousands of traders and exchanges globally, the team said. The decision to close followed a strategic review of the business and the wider digital asset industry.
Illiquid contracts could be settled early under existing settlement procedures, BitMEX said. After the closure, users will retain account access solely for viewing balances, transaction history, and withdrawing remaining assets.
The shutdown marks the end of one of crypto's oldest derivatives platforms, which operated without a single security breach since its founding in 2014 — a record few peers, including exchanges that have lost billions to exploits, can match.
This article is for informational purposes only and does not constitute investment advice.
