Crypto exchange BitMEX will shut down on September 23, 2026, at 04:00 UTC. The team announced the closure on Thursday, saying the decision was made after a strategic review of the business and the market.

The Seychelles-based firm immediately halted all new account registrations. It told users to close positions and withdraw funds well before the deadline.

What the BitMEX Shutdown Means for Users

BitMEX set a phased wind-down before the final date. From August 26, 04:00 UTC, it will block new positions and allow only reductions.

The exchange will then force-close any open trades. Any positions left open at closure will be automatically closed.

“All users are on notice that BitMEX may force close positions as described above at its sole discretion, and takes no responsibility for any trading losses that result from users’ inability to close their positions between now and the Closure Time,” the blog read.

Unwithdrawn balances also carry a cost. Users who have completed Know Your Customer (KYC) verification but do not withdraw their assets before the platform’s closure deadline will be subject to a fee. The monthly fee will be based on whichever is higher: $50 equivalent or 1% per year of the remaining account balance.

BitMEX unstaked all BMEX Token (BMEX) holdings and returned them to accounts. It also warned traders about scams tied to the news.

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A Pioneer of Crypto Derivatives Winds Down

The board of HDR Global Trading Limited, owner of the exchange, decided to close it after “strategic review of the business and and the broader crypto industry.”

“We continue to take pride in our robust security posture, which, unlike many of our peers, has resulted in BitMEX experiencing zero funds lost to hacks during its entire operating history of over 11 years,” the team added.

Nonetheless, the exchange carries a heavy legal record. Founders Arthur Hayes, Ben Delo, and Samuel Reed pleaded guilty in 2022 to Bank Secrecy Act violations for “willfully failing to establish, implement, and maintain an anti-money laundering program at BitMEX.

The company itself pleaded guilty in July 2024. BitMEX was fined $100 million and ordered 2 years of probation in January 2025.

President Trump pardoned the company, its three founders, and former executive Gregory Dwyer in March 2025. 

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Source: BeInCrypto