BitMEX to Permanently Close on Sept. 23, 2026, HDR Global Says

BitMEX operator HDR Global Trading Limited said it will permanently shut down the BitMEX exchange on Sept. 23, 2026, capping a run that helped shape today's crypto derivatives market. The company said the decision followed a strategic review and reflects changes in the broader crypto landscape. New account registrations have been halted with immediate effect. BitMEX, founded in 2014, rose to prominence after introducing the 100x leverage perpetual swap, a product that later became an industry standard. The closure announcement, released Thursday, July 23, quickly spread across social media and prompted traders and analysts to urge users to prepare for the staged wind-down. HDR Global laid out a timetable for position management and withdrawals. Beginning Aug. 26, 2026, risk controls will restrict accounts to reducing existing exposure only, blocking new positions. The exchange will also begin forced liquidations of open positions as it gradually winds down liquidity. On Sept. 23, 2026, any remaining open positions will be closed out immediately. The company said all staked BMEX utility tokens have already been unstaked and returned to user wallets for immediate withdrawal. After the final deadline, users will retain read-only access for historical data and to process withdrawals. Accounts with unwithdrawn balances after Sept. 23 will be charged a recurring account maintenance fee billed monthly, equal to $50 or 1% per annum in equivalent terms—whichever is higher. BitMEX warned customers to stay alert for scams and phishing attempts tied to the shutdown news, adding that it does not offer any expedited or priority withdrawal services. The exchange said it is applying additional security reviews to all withdrawal requests. The company noted that higher processing volume and network congestion on blockchains such as Bitcoin could cause temporary delays. It also said its assets exceed liabilities based on its proof-of-reserves audit. Despite intensified competition and regulatory scrutiny in recent years, BitMEX highlighted its security track record, saying no customer funds were lost to hacks over its 11-year history.