On the morning of July 23, 2026, a news item appeared on the BitMEX platform notifying users about the closure of the trading platform:
- the service gives traders time to close positions and withdraw funds;
- operations will be completely stopped on September 23 at 4:00 UTC or 7:00 Moscow time;
- registration of new users has been discontinued as of now;
- current trades must be completed by August 26, 2026, new trades are still available for now.
After the specified date, users will only be able to reduce remaining positions.
BitMEX is one of the oldest cryptocurrency platforms. It was launched in 2014 by Arthur Hayes. It was the first exchange to introduce perpetual futures for bitcoin trading, and later added altcoins. Legally, the company was registered as HDR Global Trading Limited in Hong Kong, then changed jurisdiction to the Seychelles. The project has a native token BMEX, which, in addition to the native platform, is traded on Gate Io. The coin is used to reduce trading fees and also gives traders the opportunity to earn passive income through staking. As of July 23, 2026, the staking service has been discontinued and tokens have been returned to owners’ accounts.
The exchange administration recommends clients do the following:
- close all open positions and withdraw funds from platform accounts by September 23;
- asset storage after this date will be charged at 1% per year of the remaining balance, but not less than $50 per month;
- the storage service will only be available to verified users, others risk simply losing their money;
- contracts with low liquidity will be settled early;
- there is no information yet on how long withdrawals will be available after September 23.
The company website states that some traders’ positions may be closed fully or partially before September 23. Forced reduction is necessary for the orderly closure of the exchange, to evenly distribute the load on the network when transferring assets to other wallets.
Possible Reasons for the Closure of BitMEX Exchange
In 2020, a scandal erupted around the exchange, and Arthur Hayes and co-founders were accused of violating US AML laws. A criminal case was opened, Arthur and other owners were forced to leave the company, handing over management to HDR Global Trading Limited. The exchange’s reputation was shaken, and with the loss of trust, most of the audience left. Continuing to lose market share, the organization desperately tried to sell the platform. However, the search for a buyer was unsuccessful. Although at the time of writing, CoinMarketCap lists reserves of $1 billion, it is clear that continuing the business has become unprofitable.
The company reminds clients that it does not and will not prioritize withdrawals. Scammers may take advantage of the news and use phishing links, promising favorable terms for transferring assets to another platform. Do not trust them or panic, the exchange’s reserves are sufficient to meet all obligations. In the interest of security, the platform may introduce additional protective measures: for example, require several confirmations of wallet ownership — SMS, 2FA, email code, biometrics, and so on.
Important: the company cares about its clients and is trying to make the platform closure as financially safe as possible. However, the situation may change at any time, so the editorial team strongly recommends not delaying the process of transferring assets to another platform.
