BitMEX Halts Trading and Deposits, Keeps Web Withdrawals Open as It Winds Down

BitMEX has shut down all exchange operations as of Sept. 23 at 4:00 UTC, according to CoinDesk. The platform no longer supports trading or deposits, but users can still log in on the official website to withdraw any remaining assets. BitMEX said on X that the move is part of a phased exit plan. API-based withdrawals will be turned off on Sept. 28, after which withdrawals will be available only through the web interface. The company said customer funds remain secure and urged users to withdraw balances as soon as possible. Key dates and access - Trading and deposits suspended: Sept. 23, 4:00 UTC - Currently available: web login and withdrawals - API withdrawals disabled: Sept. 28 BitMEX said the closure follows a business review by its owner and operator, HDR Global Trading Limited, citing an assessment of the business and industry environment. The company said the decision is not related to any legal or regulatory matter. BitMEX first announced on July 23 that it would end exchange services on Sept. 23. Founded in 2014, it was an early leader in crypto derivatives and is widely credited with popularizing high-leverage perpetual contracts, including Bitcoin perpetuals offering up to 100x leverage. In the days leading up to the shutdown, the Celsius bankruptcy estate filed a lawsuit against five companies linked to BitMEX, alleging fraud, market manipulation and improper liquidations tied to 6,360 bitcoins during the March 2020 market crash. Reports put the claimed value at nearly $490 million. BitMEX reiterated that its wind-down was not triggered by any legal or regulatory event.