BitMEX Closes, BMEX Token Plunges 95%; Bubblemaps Reports 75% Supply Never Distributed On-Chain

According to blockchain data analysis platform Bubblemaps, BitMEX's native token BMEX plunged approximately 95% after the exchange announced its closure on July 24. Analysis reveals that about 75% of BMEX's total supply, originally designated for employee incentives, ecosystem development, and long-term reserves, was never completed as on-chain transfers.

Chain data shows only one recorded token claim: on November 2, 2022, the product and liquidity address withdrew approximately 63.75 million BMEX. However, addresses allocated for employee incentives, ecosystem growth, and long-term reserves have recorded no token claims to date.