BitMEX's Final Countdown: What the Shutdown Means and When You Should Withdraw
BitMEX operator HDR Global Trading Limited announced the permanent closure of the exchange, effective Sept. 23, 2026. The decision follows a strategic review of the business and the evolving crypto landscape. New user registrations have been halted immediately.
BitMEX, which pioneered the 100x leverage perpetual swap in 2014, revolutionized crypto derivatives trading. The product was widely adopted across the industry, cementing the platform’s legacy despite recent declines in market share due to competition and regulatory scrutiny.
To ensure an orderly wind-down, a strict timeline has been set. From Aug. 26, 2026, accounts will be restricted to position reductions only, and forced liquidations will begin. On Sept. 23, all remaining open positions will be forcibly closed. Staked BMEX tokens have already been unstaked and returned to user wallets.
After the final deadline, accounts with unwithdrawn funds will be charged a monthly maintenance fee of $50 equivalent or 1% per annum, whichever is greater. Users will retain read-only access for historical data and withdrawals.
The exchange urged users to beware of scams and phishing attempts, clarifying that no expedited withdrawal services exist. Additional security reviews are being applied to all withdrawal requests, which may cause delays due to blockchain congestion. BitMEX emphasized that its assets exceed liabilities per its proof-of-reserves audit and highlighted a 11-year record of zero customer funds lost to hacks.
Users are advised to act promptly to avoid forced liquidations and fees.