Important Message from BitMEX

To all users of BitMEX,

Today we are announcing the closure of the BitMEX Exchange, which will take effect on 23 September 2026 at UTC 04:00:00 (the Closure Time). With immediate effect, we have stopped all new account registrations. Following a strategic review of the business and the broader crypto industry, the board of HDR Global Trading Limited, owner and operator of BitMEX, has decided to close the exchange. This comes with a heavy heart for all of us at the company and has not been taken lightly. 

When BitMEX started in 2014, our mission was simple: provide access to professional-grade crypto derivatives for everyone. BitMEX invented the 100x leverage perpetual swap, the most traded product in the crypto industry – now adopted by thousands of people and exchanges. This legacy reflects our commitment to bringing innovative and sophisticated risk management tools for all users. And we continue to take pride in our robust security posture, which, unlike many of our peers, has resulted in BitMEX experiencing zero funds lost to hacks during its entire operating history of over 11 years.

The BitMEX platform has always remained grounded to the true ethos of Bitcoin – neutrality, transparency, and decentralisation, which is evident through our peer-to-peer operations and a top priority focus on user fund safety. While this news is a difficult one to share, we are proud of everything that has been built at the company since its launch as a pioneer of crypto derivatives.

What Does This Mean for Users? 

Immediately from the Closure Time, there will be no further exchange services provided by BitMEX other than continuing to hold the assets of users who have not already closed all positions and withdrawn their funds prior to this point. Even after the Closure Time, users will still be able to log into their account to see their wallet balance and historical transaction information to withdraw their funds. Please note that this means we have unstaked all staked BMEX Tokens on the platform, and it is immediately available in holder accounts.

We strongly encourage all users to close open positions and withdraw their funds as soon as practical. The exchange will operate as normal during the period up until the Closure Time, although we will apply risk limits from 26 August at UTC 04:00:00 to stop users from placing new positions (so you will only be able to reduce your positions). From this point to the Closure Time, BitMEX will force close existing open positions to ensure an orderly wind down of the market. Any remaining open positions at the Closure Time will be immediately force closed. All users are on notice that BitMEX may force close positions as described above at its sole discretion, and takes no responsibility for any trading losses that result from users’ inability to close their positions between now and the Closure Time.

We will apply early settlement procedures to contracts trading with limited liquidity. Notice will be given to users in accordance with our usual procedures for early settlements.

KYC’d users who have failed to withdraw their assets from the platform by the Closure Time will be charged an account fee of USD50 equivalent or 1% per annum (whichever is greater), charged monthly, on the balance remaining in their account. Failure to withdraw funds by the Closure Time will mean you have agreed to be charged that fee, and have agreed to subsequent increases in that fee (to be communicated in advance) if you continue to fail to withdraw after the Closure Time.  We will continue to regularly reach out to users who have failed to withdraw their assets by the Closure Time to encourage withdrawals.

We are mindful that a wind down of an exchange can generate additional risks to users’ funds by bad actors trying to take advantage of what they assume may be uncertainty. Be vigilant for phishing attempts using this news, or promising priority or accelerated withdrawals - no such expedited service is available. To ensure end-to-end safety, we will deploy additional review procedures on all withdrawals requested and may see heightened withdrawal requests being subject to network restrictions depending on the assets being withdrawn. Certain blockchains, like Bitcoin, can have very long block confirmation times (up to an hour is not uncommon) which can limit our capacity to process withdrawals promptly from our fixed pool of addresses. As long as your withdrawal is marked “Processing”, it will be queued and posted to the blockchain when the next address becomes free. We apologise in advance for any potential delays in processing certain withdrawals, but you can be assured that all assets exceed liabilities as stated on our Proof of Reserves and Liabilities page. 

Final Note

From all of us at BitMEX, we want to thank everyone who has interacted with our platform  over its long history. You have all played a pivotal role in helping BitMEX become the industry leader it was, and we hope you will continue to trade on the many excellent platforms that have followed in our footsteps.

For any questions, please reach out to our Support team who are available 24/7. 

Best, 

BitMEX Team