BitMEX to Shut Down on Sept. 23, 2026

Crypto derivatives exchange BitMEX will fully wind down and cease operations on September 23, 2026, ending a run that began in 2014. New account registrations have already been suspended, and the platform is urging customers to withdraw funds as soon as possible. HDR Global Trading Limited’s board made the decision after a strategic review of the business and broader crypto market conditions. The company said the choice was difficult. In its announcement, BitMEX pointed to its early role in the sector, saying it launched in 2014 with the goal of broadening access to professional-grade crypto derivatives and that it created the 100x-leverage perpetual swap, a product that became one of the industry’s most actively traded. BitMEX also stated that, across more than a decade of operations, it has never lost user funds due to a hack. Wind-down timeline - New accounts: registration is no longer available. - Starting August 26: users will be unable to open new positions and may only reduce existing positions. - Through the shutdown date: BitMEX will progressively force-close open positions to ensure an orderly end to trading. - At the moment operations cease: any remaining open positions will be force-closed. After September 23, trading will be disabled. Users will still be able to log in, review transaction history, and withdraw funds. Custody fee after closure for KYC’d users BitMEX warned that users who have completed KYC but do not withdraw by the closure date will be charged a custody fee, billed monthly, equal to $50 or 1% per year, whichever is higher. Scam warning The exchange cautioned clients about phishing attempts and scam messages claiming to offer "expedited withdrawals," saying there are no special withdrawal procedures. BitMEX closed its statement by thanking users for their support over the years and encouraging them to continue trading on other platforms. The shutdown announcement came the same week Movement Labs filed for Chapter 11 bankruptcy protection in the U.S. following last year’s scandal involving the MOVE token.