The Final Chapter: BitMEX Announces Complete Shutdown Timeline
After eleven years of operation, the crypto derivatives exchange BitMEX has officially confirmed it will permanently cease all services on September 23, 2026, at 04:00 UTC. New user registrations have been halted immediately. This move follows a thorough business and strategic industry review by the board of its operating entity, HDR Global Trading.
Phased Wind-Down: Key Dates and User Actions
BitMEX has outlined a structured timeline to ensure an orderly exit from the market. The platform has already unlocked all staked BMEX tokens, crediting them back to user accounts.
- Trading Restrictions: Starting August 26, 2026, at 04:00 UTC, users will no longer be able to open new positions. Only position reduction will be permitted, followed by a gradual forced liquidation process.
- Final Liquidation: Any remaining open positions will be force-liquidated at the moment of shutdown on September 23.
- Withdrawal Period: After services close, user accounts will remain accessible for a time to check balances, review history, and initiate withdrawals.
Post-Shutdown Considerations for Users
Users must pay close attention to asset management and potential fees after the closure.
The announcement states that verified users who have not withdrawn their assets before the shutdown will be subject to an account maintenance fee. This fee is set at the higher of $50 equivalent per month or 1% annualized on the account balance. The exchange asserts that its proof-of-reserves shows full backing of user assets, and while withdrawals are secure, they may experience delays due to on-chain confirmations. Users are also warned to be vigilant against phishing scams during this period.
Founded in 2014, BitMEX was a pioneer in the crypto derivatives space, famously introducing the 100x leveraged perpetual swap. Throughout its operational history, the platform maintained a record of no user fund losses due to hacking incidents.