BitMEX to permanently shut down September 23, 2026
Regulation & Gov ·
The derivatives exchange, owned by HDR Global Trading Limited, said it will cease all operations following a strategic review, urging users to withdraw funds ahead of the deadline.
BitMEX announced it will shut down its exchange operations effective September 23, 2026 at 04:00:00 UTC, according to a statement posted on X. The decision followed what the company described as a strategic review of the business conducted by owner HDR Global Trading Limited. The exchange, which has operated for more than 11 years, said the closure will proceed with a transition period intended to give users time to close positions and withdraw assets.
The shutdown affects one of the earliest platforms to popularize high-leverage perpetual swaps in crypto trading. BitMEX said it introduced the 100x leverage perpetual swap product, which it credited with becoming the most traded financial instrument in the industry and a starting point for many traders' entry into crypto markets. The company also pointed to what it called a flawless security record, stating zero customer funds were lost to hacks over its entire operating history.
Ahead of the full closure, new user registrations have already been halted, and trading restrictions are set to begin on August 26, according to Decrypt. BitMEX said user assets remain fully safe and under user control during the wind-down period, and it directed customers to a blog post outlining the full withdrawal process. The exchange urged all users to close open positions and withdraw funds as soon as convenient rather than wait until the September 23 deadline.
Coverage of the closure has connected the exchange to Arthur Hayes, described in reporting as a co-founder of the platform, with additional background on his role compiled by Leviathan News. Separate reporting from CryptoPotato characterized BitMEX as a veteran exchange in the derivatives space, underscoring the exchange's long operating history relative to more recently launched platforms. The cluster of coverage, spanning nine distinct sources, consistently cites the same September 23 effective date and the halt on new sign-ups.
Left unaddressed in the announcement is what happens to BitMEX's brand, technology, or remaining infrastructure after the closure date, and whether any successor entity or asset sale is planned. The company has not detailed the specific reasons behind the strategic review that led to the decision, nor has it said what triggered the timing of the closure. Users and market participants are now watching for further guidance from HDR Global Trading as the withdrawal window progresses toward the September 23 deadline.