BitMEX has announced the closure of its exchange, which will take place on 23 September 2026 at 04:00:00 UTC. The exchange was founded by Arthur Hayes, and election follows a strategic review of owner HDR Global Trading Limited. Recently, the platform has suspended new account registrations.
Why is BitMEX shutting down?
Following a positive review of the business and many crypto companies, HDR Global Trading Limited, the owner and operator of BitMEX, decided to close the exchange. The company did not cite financial or regulatory issues as the reason, describing the move instead as the result of a thorough review. BitMEX also did not disclose what the review found, or whether the sales process that began last year produced an investor.
BitMEX was one of the pioneers of crypto derivatives trading and helped spread perpetual exchange contracts – a feature that allows traders to speculate on asset prices without expiration dates. The team realized that they had introduced a 100x continuous exchange, which is now the most traded product in the crypto market.
What happens to my money?
BitMEX told users their assets remain completely safe and under their control during the transition. The exchange said assets outnumbered loans on its Savings and Loan Evidence page, and that customer deposits lost zero to damage its overall reputation.
Users are encouraged to close all positions and withdraw funds ahead of time. KYC verified users who fail to repay the loan before suspension will incur a fine of $50 per month or 1% of the total amount, whichever is greater.
What is the deadline?
The exchange will continue to operate until the end of August before being phased out. From August 26 at 04:00 UTC, users will no longer be able to open new positions and will be allowed to reduce or close existing sales. The exchange will force the closing of any remaining open positions prior to the close so that the market declines in an orderly fashion, and any open position at the close will be closed immediately.
BitMEX also confirmed that it has released the entire BMEX signs stored on the price, making them immediately available to their owners.
What should users monitor?
BitMEX warned users of possible scams related to the shutdown and said that withdrawals may experience delays due to blockchain verification time. The biggest challenge the exchange faces is converting user assets to fiat, as network disruptions on the Bitcoin blockchain can cause significant delays.
The closure comes amid a competitive landscape. Centralized exchange perpetual futures volume fell 10% to $12.7 trillion in Q2 2026, while decentralized options such as Hyperliquid rose to become the second largest perpetuals exchange with open interest, behind Binance.
