BitMEX, the cryptocurrency derivatives exchange owned by HDR Global Trading Limited, announced it will cease all exchange operations on 23 September 2026 at 04:00 UTC. The company has immediately halted new account registrations following a strategic business review. Users have until the closure deadline to withdraw their funds, after which BitMEX will only function as a custodian for remaining balances.
- Closure Date: 23 September 2026, 04:00 UTC
- Position Closure Deadline: 26 August 2026, 04:00 UTC (no new positions allowed after this date)
- Post-Closure Fee: USD 50 equivalent or 1% per annum (whichever is greater), charged monthly
- Operating History: Founded in 2014, over 11 years without funds lost to hacks
BitMEX pioneered the 100x leverage perpetual swap, a product now widely adopted across the crypto industry. The exchange emphasized its security record and commitment to peer-to-peer operations aligned with Bitcoin’s core principles of neutrality and decentralization. During the wind-down period, the platform will continue normal operations until 26 August, when risk limits will prevent new positions. Thereafter, BitMEX will force-close existing positions to ensure orderly market closure, with any remaining open positions automatically liquidated at the Closure Time.
Users who fail to withdraw assets by the deadline will face ongoing account fees and must log in to access wallet balances and transaction histories. The company warned of potential phishing attempts during the wind-down period and noted that withdrawal processing may experience delays due to blockchain confirmation times, particularly for Bitcoin transactions. BitMEX stated that all user assets exceed liabilities according to its Proof of Reserves documentation.
The closure marks the end of an era for one of cryptocurrency’s most influential derivatives platforms. BitMEX has operated continuously since 2014 as a leading venue for professional-grade crypto derivatives trading.
