BitMEX will end all operations on September 23, 2026, at 04:00 UTC. The BitMEX shutdown was confirmed by owner and operator HDR Global Trading Limited on July 23, 2026. The company has already stopped new account registrations and is asking users to close positions and withdraw funds well before the deadline.
Source: Official Post
In an official message to users, BitMEX said the board of HDR Global Trading Limited made the call after a strategic review of the business. The company said user funds remain fully safe during the wind-down period. From August 26, 04:00 UTC, BitMEX will block new positions and only allow reduce-only trades. Any position still open at closure time will be force-closed automatically.
BitMEX did not name a single reason for the closure. It described the move as the result of a strategic review of the business and the wider crypto industry. The exchange had reportedly been looking for a buyer since February 2025, working with Broadhaven Capital Partners on a sale process.
The announcement also comes just weeks after BitMEX lost its CEO, CFO, and head of growth. Over the years, BitMEX's derivatives market share has slipped as rivals and decentralized platforms gained ground.
The team called the decision difficult and said it comes with "a very heavy heart." The company pointed to its 11-plus-year legacy, including inventing the 100x leverage perpetual swap, now one of the most traded products in crypto. BitMEX said its 2014 mission was to bring professional-grade crypto derivatives to everyone, built on a peer-to-peer model rooted in neutrality and transparency. The team also highlighted its record of zero customer funds lost to hacks across its full operating history. It thanked users for their trust over the years as part of the wider BitMEX shutdown announcement.
Users are urged to close open positions and withdraw all assets before the closure date. KYC-verified users who leave funds on the platform past closure will face a monthly fee of $50 or 1% of their balance, whichever is higher. This fee can rise further with advance notice if funds stay unclaimed.
It also confirmed that all user assets currently exceed liabilities, based on its Proof of Reserves and Liabilities page. Withdrawals may still face delays due to added review checks and blockchain confirmation times, which can run up to an hour on networks like Bitcoin. The exchange warned users to watch for phishing scams tied to the shutdown news, noting that no service offers expedited or priority withdrawals.
BitMEX once dominated crypto derivatives. At its peak in 2019, it handled over $1 trillion in annual trading volume and held close to 57% of the global derivatives market. Daily volume hit as high as $8 billion in July 2018.
It also confirmed it has unstaked all BMEX tokens and returned them to holder accounts. Per CoinMarketCap's reserve data.
Metric | Value |
Total Reported Reserves | ~$1.28 billion |
Main Holdings | BTC and USDT wallets |
BMEX Price | ~$0.085 |
BMEX Held (exchange wallet) | ~80.8 million tokens |
BMEX Holdings Value | ~$6.9 million |
Source: coinmarketcap data
These figures may shift quickly following the shutdown news.
After September 23, BitMEX says users will still be able to log in, view balances, and withdraw remaining assets. Contracts trading with limited liquidity may see early settlement, with notice given in line with BitMEX's usual procedures.
The shutdown marks the end of an 11-year run for one of crypto's earliest derivatives exchanges. Now they have a limited window to close positions and withdraw funds before the September 23 deadline.
This article is for educational and informational purposes only and should not be considered financial or investment advice. Always conduct your own research before making investment decisions.
