BitMEX will permanently close on Sept. 23, with users required to close positions and withdraw assets before the shutdown. New positions will be blocked from Aug. 26, while remaining open tra
BitMEX will close its cryptocurrency exchange on Sept. 23, 2026, at 04:00 UTC after HDR Global Trading Limited completed a strategic business review. According to the company, new account registrations have already stopped, while existing users should close positions and withdraw assets before the shutdown as the exchange begins an orderly wind-down process.
According to BitMEX, exchange services will continue until the scheduled closure, although trading restrictions will arrive earlier. Beginning Aug. 26 at 04:00 UTC, users will no longer open new positions. However, they may reduce existing positions before the exchange starts force-closing remaining trades.
BitMEX said any positions still open at the closure time will close automatically. Additionally, contracts with limited liquidity will follow early settlement procedures under the platform's existing policies. The company also unstaked all BMEX tokens, making them immediately available in user accounts.
Meanwhile, BitMEX encouraged customers to withdraw assets as soon as practical. Even after operations end, users will still access account balances and transaction history to complete withdrawals.
As the shutdown approaches, BitMEX said it will apply additional withdrawal reviews to protect users from phishing attempts and fraudulent activity. The company warned users that no priority withdrawal service exists and urged them to ignore offers claiming otherwise.
BitMEX also noted that blockchain confirmation times, particularly on Bitcoin, could delay withdrawals during periods of heavy demand. Nevertheless, the exchange stated that user assets remain safe and that reserves continue to exceed liabilities under its Proof of Reserves and Liabilities framework.
KYC-verified users who leave funds after Sept. 23 will incur a monthly account fee. The charge will equal either $50 or 1% annually of the remaining balance, whichever is greater.
Following the announcement, Binance founder Changpeng Zhao, known as CZ, reflected on BitMEX's history. He said the exchange pioneered 100x perpetual contracts in 2014 and maintained a record of zero customer funds lost to hacks.
CZ also referenced the founders' guilty pleas to Bank Secrecy Act violations and noted they received fines and home confinement. Additionally, he said the exchange's wind-down appears orderly and acknowledged Arthur Hayes while noting users can still withdraw their assets.
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