BitMEX announced it will close its operations on September 23, 2026, at 04:00 UTC, ending an 11-year run as a pioneer in crypto derivatives trading.
The Seychelles-based exchange, co-founded by Arthur Hayes in 2014, notified users on July 23 that new account registrations have stopped and customers must close positions and withdraw funds before the deadline.
Trading will switch to reduce-only mode on August 26, after which BitMEX may force-close any remaining open contracts. Users who leave balances behind will face a monthly fee of $50 or an annualized 1 percent, whichever is greater.
The shutdown follows a strategic review by parent company HDR Global Trading Limited and comes after years of losing market share to larger rivals. The BMEX token fell about 90 percent after the announcement.
The platform urged customers to act promptly, warning that blockchain delays could slow withdrawals but confirming that customer assets remain fully covered by reserves.
