BitMEX Announces Permanent Exchange Closure for September

BitMEX will permanently close its cryptocurrency exchange on Sept. 23 after a strategic review by parent company HDR Global Trading, ending the operations of one of the industry's oldest crypto derivatives venues.

Summary:

BitMEX will wind down exchange operations after more than 11 years in the crypto market.
The company is gradually restricting trading while giving customers time to withdraw assets.
The decision closes the chapter on one of the exchanges that helped popularize crypto derivatives.

BitMEX said exchange services will continue until Sept. 23 at 04:00 UTC, although customers will face trading restrictions nearly a month earlier as the company prepares for an orderly shutdown.

From Aug. 26, traders will no longer be able to open new positions and will only be permitted to reduce existing exposure. The exchange said it will gradually force-close remaining positions before the final deadline, with any contracts still open when trading ends automatically settled.

Key dates for customers include:

Immediately: New account registrations have been suspended.
Aug. 26: Opening new positions will no longer be permitted.
Sept. 23: Exchange operations end and any remaining positions will be force closed.
After Sept. 23: Verified accounts that continue holding assets will begin incurring monthly account fees.

The company added that contracts with limited liquidity may be settled early under its existing procedures.

Withdrawals Will Continue After Trading Stops

Although trading will end in September, customers will still be able to log in after the exchange closes to access wallet balances, review transaction history and withdraw remaining assets.

BitMEX has also unstaked all BMEX tokens, making them immediately available in users’ accounts.

The company is encouraging customers to withdraw funds as early as possible rather than wait until the final days of operation.
Verified users who leave assets on the platform after the closure will face a monthly account charge equal to the greater of $50 or 1% annually on remaining balances. BitMEX said the fee could increase in the future after prior notice.

The exchange also warned that withdrawal requests could take longer than usual if demand spikes or certain blockchain networks experience slower confirmation times. It said additional security reviews will be introduced during the wind-down and urged users to remain alert for phishing campaigns impersonating BitMEX support.

According to the company, customer assets continue to exceed liabilities under its published Proof of Reserves disclosures.

A Pioneer of Crypto Derivatives

Founded in 2014, BitMEX became one of the first exchanges dedicated to cryptocurrency derivatives and is widely credited with introducing the 100x leveraged perpetual swap, a product that later became the industry standard across digital asset trading platforms.

The company said it maintained a record of more than 11 years without losing customer funds to a security breach, highlighting platform security as one of its defining achievements throughout its operation.

The closure follows what BitMEX described as a strategic review of both its business and the broader cryptocurrency industry. The company did not identify a single factor behind the decision.

Another Major Exchange Leaves the Market

BitMEX’s closure comes as regulators continue reshaping the global cryptocurrency industry through stricter licensing, anti-money laundering requirements and enforcement actions.

While voluntary shutdowns remain relatively uncommon, several crypto platforms have disappeared from the market under different circumstances.

Other examples include:

Garantex – seized by international authorities in 2025 over allegations of sanctions evasion and money laundering.
Xchange.cash and Bankcomat – shut down by German authorities in 2024 for operating unlicensed crypto services.
Bazar Money Transfer – ordered to cease operations by the UK’s Financial Conduct Authority in early 2026 after regulators said it operated an unauthorized crypto exchange business.

Unlike those cases, BitMEX said its decision was voluntary and followed an internal strategic review rather than regulatory intervention.

Its departure nevertheless marks the end of one of the exchanges that helped shape the modern crypto derivatives market, closing a chapter that began more than a decade ago as digital asset trading was still in its infancy.

The information presented in this article is intended for informational purposes only and should not be interpreted as financial, investment, or trading advice. Coinspress.com does not promote or advocate for any particular investment strategy, asset, or cryptocurrency project. Cryptocurrency markets are highly volatile and unpredictable – always perform your own research and seek guidance from a qualified financial professional before making any investment decisions.

Author

Alexander Zdravkov

Reporter at CoinsPress

Alexander Zdravkov is a market analyst and crypto journalist with interests in economics, broader financial markets and digital assets. His journey into crypto began more than four years ago, driven by a fascination with the rapid evolution of blockchain technology and the transformative potential of decentralized finance. He began analyzing market cycles and identifying emerging trends before they reach the mainstream. He holds a degree in International Relations - a background that helped shape his broader perspective on global economics, geopolitics, and the interconnected nature of modern financial markets. Whether covering the latest developments in the crypto sector or exploring broader macroeconomic themes, Alexander focuses on giving readers context rather than simply repeating headlines. During his career, he has authored more than 10,000 articles covering cryptocurrencies, traditional finance, and global market developments. His work spans everything from Bitcoin and altcoins to macroeconomic trends influencing risk assets worldwide.