Timeline
- 8.5
BitMEX Has Shut Down : Where Do Its Traders Go Now ?
BitMEX announced the closure of its exchange, set to take effect on 23 September 2026 at 04:00 UTC, ending an 11-year run, and said all new account registrations stopped with immediate effect. The board of HDR Global Trading Limited, BitMEX's owner and operator, took the decision after a strategic review of the business and the broader crypto industry, and users are being urged to close positions and withdraw funds. BitMEX pioneered the 100x-leverage perpetual swap, the contract format that became the standard for crypto derivatives, so its exit pushes remaining derivatives traders to migrate open positions and liquidity to rival perpetual-swap venues. According to BitMEX's own announcement, the closure takes effect at exactly 04:00:00 UTC on 23 September 2026, and new account registrations were halted with immediate effect rather than at the closure time. The official notice directs users to close positions and withdraw funds before that deadline.
- 8.5
BitMEX shuts down: perpetuals pioneer officially closes it doors after 11 years
BitMEX ended all exchange operations at 04:00 UTC on Wednesday, Sept. 23, stopping trading and deposits two months after announcing its wind-down on July 23. Users can still log in and withdraw, but API withdrawals will be disabled on Sept. 28. BitMEX invented the crypto perpetual swap and was long one of the largest derivatives venues, so its formal closure marks the end of an era for the product it pioneered. Withdrawals remain open, and the company said the shutdown was not linked to legal or regulatory issues. Verified users who leave balances behind now pay an account fee of 1% a year or $50 equivalent, whichever is greater, charged monthly, and BitMEX has said the fee will rise over time. Security measures including KYC refreshes and cooldown periods are being rolled out in stages, and the company warned of phishing scams promising faster withdrawals.