BitMEX will shut down exchange operations at 04:00 UTC on 23 September 2026 after HDR Global Trading Limited completed a strategic review. The company decided to close the business following its conclusion that ceasing operations serves strategic interests. The cryptocurrency derivatives exchange, which launched in 2014 and pioneered the 100x leveraged perpetual swap, maintained a record of zero customer funds lost to hacks during more than 11 years of operations while helping popularise crypto derivatives trading globally.
BitMEX Implements Staged Shutdown Timeline Starting 26 August
BitMEX has already stopped accepting new customer registrations and instructed existing users to withdraw assets and close open positions before trading ceases. Restrictions will be introduced in stages beginning on 26 August, when traders will no longer be able to open new positions and will only be allowed to reduce existing ones. Remaining positions will be closed progressively before the final shutdown, with any still open at the 23 September 2026 deadline automatically liquidated. The company stated customers' funds remain secure and under their control throughout the wind-down process.
Customers Retain Wallet Access and Withdrawal Rights After Closure
Following the closure, customers will continue to have access to wallet balances, transaction histories and withdrawals. BitMEX said extra withdrawal reviews and blockchain confirmation times could delay processing during the transition. The company warned customers about phishing scams and fraudulent offers claiming to provide faster withdrawals. BitMEX also said its proof of reserves and liabilities confirms customer assets exceed liabilities.
BitMEX Pioneered 100x Leveraged Perpetual Swaps Since 2014
Established in 2014, BitMEX helped popularise cryptocurrency derivatives through its introduction of the 100x leveraged perpetual swap, which later became one of the industry's most widely traded products. The exchange highlighted its record of zero customer funds lost to hacks during its history. Its departure comes as decentralised derivatives exchanges continue expanding their share of trading activity while volumes on centralised platforms weaken, signalling the end of a prominent early participant in the sector.
FAQ
When will BitMEX stop accepting new customer registrations?
BitMEX has already stopped accepting new customer registrations as part of its wind-down process ahead of the 23 September 2026 shutdown.
What happens to open positions on BitMEX after 26 August?
Starting 26 August, traders will no longer be able to open new positions and will only be allowed to reduce existing ones. Remaining positions will be closed progressively before the final shutdown, with any still open at 04:00 UTC on 23 September 2026 automatically liquidated.
What was BitMEX's contribution to cryptocurrency derivatives trading?
BitMEX, established in 2014, introduced the 100x leveraged perpetual swap, which became one of the industry's most widely traded products and helped popularise cryptocurrency derivatives trading.
