BitMEX to shut down exchange on September 23 after 11-year run
In brief
- BitMEX ceases operations September 23, 2026, after HDR Global Trading Limited strategic review
- Exchange stops new registrations immediately; traders can only reduce positions from August 26
- BitMEX maintains zero-hack security record over 11 years; users retain withdrawal access post-closure
Immediate Changes and Timeline
Effective immediately, BitMEX has stopped accepting new user registrations. Starting August 26, traders will only be permitted to reduce existing positions, with no new positions allowed. The exchange will gradually force close outstanding positions ahead of the September 23 deadline to ensure an orderly wind-down of the market.
Account Access and Custody
Following closure, users will retain access to their accounts solely for viewing balances, transaction history, and withdrawing remaining assets. Customers who fail to withdraw funds before the deadline and have completed KYC verification will face ongoing custody charges of at least $50 or 1% annually, billed monthly.
Legacy and Token Handling
BitMEX invented the 100x leverage perpetual swap, the most traded product in the crypto industry. Over its 11-year operating history, the platform has maintained a notable security record. BitMEX has unstaked all BMEX tokens held in staking, making them immediately available to holders.
The shutdown marks the end of an era for derivatives trading in crypto. HDR Global Trading Limited's decision reflects broader strategic considerations in how the industry is evolving and where the company sees its future opportunities.
