BitMEX has announced that it will shut down its cryptocurrency derivatives exchange, bringing an end to more than a decade of operations. The company said trading on the platform will officially stop on September 23, 2026, following a strategic review by its board.
According to BitMEX, owner HDR Global Trading Limited decided to close the exchange after evaluating the business and the current state of the crypto industry. The platform has already stopped accepting new account registrations.
Users have been asked to close their open positions and withdraw their funds before the shutdown date. BitMEX said customer assets remain safe and fully backed, and users will still be able to access their accounts after trading ends to view balances and withdraw remaining funds.
The shutdown process will happen in stages. Starting August 26, traders will no longer be able to open new positions and will only be allowed to reduce or close existing ones. Over the following weeks, the exchange will gradually close any remaining positions to ensure an orderly exit. Any positions still open on September 23 will be automatically liquidated.
BitMEX also warned customers to be careful of phishing scams and fake services claiming to offer faster withdrawals. The company stressed that there is no priority withdrawal service and advised users to only rely on official communication.
For users who leave funds on the platform after September 23, BitMEX said a monthly custody fee may apply. Customers will still be able to withdraw their assets, but charges could be deducted from balances left on the exchange.
Founded in 2014, BitMEX became one of the most influential crypto derivatives exchanges in the industry. The company is widely known for introducing the 100x leveraged perpetual swap, a product that later became a standard across the crypto trading market.
BitMEX highlighted that it operated for more than 11 years without losing customer funds to a hack, calling security one of its biggest achievements.
The closure comes shortly after a leadership shake-up at the company. Several top executives departed earlier this month, and Peter Wilkinson was appointed as the new CEO. Reports had also suggested that BitMEX was exploring a possible sale before deciding to shut down the exchange.
With the closure, one of the crypto industry’s earliest and most recognizable derivatives trading platforms will officially come to an end.
