BitMEX Ends Trading Operations After 11 Years, Withdrawals Remain Open
BSCN reported the closure in a post on X, noting that trading has ended while withdrawals remain available to users. New deposits are no longer being accepted as the exchange moves through its final wind-down process.
Trading and Deposits Have Ended
BitMEX confirmed that its exchange operations ceased on Sept. 23, 2026, at 04:00 UTC. The company's website now states that trading and all other exchange services have ended, while users can continue to access their accounts and withdraw available funds.
The closure followed an announcement made by BitMEX in July. The company said its board, through its parent company HDR Global Trading Limited, had decided to close the exchange following a strategic review of the business and the broader cryptocurrency industry. BitMEX said the decision was not driven by financial distress, hacks or immediate regulatory pressure.
As part of the shutdown, trading services and new positions are no longer available. Deposits have also stopped being credited to user accounts following the closure time.
Withdrawals Continue During Wind-Down
Although trading has ended, users can still log into their BitMEX accounts and withdraw available balances. The exchange said customers should complete withdrawals as soon as practical.
BitMEX's closure FAQ states that accounts with remaining balances after Sept. 23 will be subject to a monthly account fee equivalent to 1% per year or $50, whichever is greater. The fee is deducted from the remaining account balance until it is fully withdrawn or depleted.
The company has also retained customer support for withdrawal and account-related issues during the wind-down period. BitMEX says users may need to complete identity verification before submitting withdrawals.
End of a Long-Running Derivatives Platform
BitMEX began operations in 2014 and became closely associated with cryptocurrency derivatives, particularly perpetual swap contracts. The exchange says it pioneered the 100x leverage perpetual swap, a product that later became widely used across the crypto derivatives market.
Its closure marks the end of an 11-year operating history that included the expansion of perpetual futures and other derivatives products across the digital-asset industry. CoinDesk also reported that the exchange had stopped both trading and deposits while leaving withdrawals open for former users.
The immediate focus is now the completion of the wind-down. BitMEX has stated that customers can continue accessing their accounts to view balances and withdraw eligible funds even after exchange trading services have permanently ceased.
writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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