BitMEX will close its cryptocurrency exchange on Sept. 23, 2026, ending more than 11 years of operations for one of the industry’s early derivatives platforms.

The company said the shutdown follows a strategic business review and told users that customer funds will remain secure during the wind-down. Trading restrictions are scheduled to begin on Aug. 26, and users have been urged to close positions and withdraw assets before the final closure date.

BitMEX Confirms September Shutdown Timeline

In an official announcement on Thursday, BitMEX said exchange operations will cease on Sept. 23, 2026, at 04:00 UTC. HDR Global Trading Limited, the owner and operator of BitMEX, said it had made the decision to close the platform after a strategic review, calling it the end of an important chapter.

Following the announcement, BitMEX immediately stopped accepting new account registrations. Existing users may continue trading until restrictions are introduced next month, but the company advised customers to close open positions and withdraw assets as soon as practical ahead of the shutdown.

BitMEX said customer assets will remain under user control throughout the transition period.

Dear BitMEX Users, Today, we share with a very heavy heart that BitMEX exchange will shut down its operations, effective 23 September 2026 at 04:00:00 UTC. The owner and operator of BitMEX, HDR Global Trading Limited, has made the difficult decision to close operations… pic.twitter.com/oWuqlh547f — BitMEX (@BitMEX) July 23, 2026

Dear BitMEX Users,

Today, we share with a very heavy heart that BitMEX exchange will shut down its operations, effective 23 September 2026 at 04:00:00 UTC.

The owner and operator of BitMEX, HDR Global Trading Limited, has made the difficult decision to close operations… pic.twitter.com/oWuqlh547f

— BitMEX (@BitMEX) July 23, 2026

https://x.com/BitMEX/status/2080201602456301580?ref_src=twsrc%5Etfw

Beginning Aug. 26, BitMEX will implement risk limits that prevent traders from opening new positions while permitting position reductions only. Existing positions will then be subject to gradual forced closures before the exchange permanently ends trading. The staged process gives derivatives users separate deadlines for opening, reducing, and settling positions before the platform’s final closure.

Any contracts still open when operations cease will be automatically closed as part of an orderly market wind-down. BitMEX also said contracts with limited liquidity may be settled early under existing exchange procedures.

Users Told to Withdraw Funds Before Closure

BitMEX said users will continue to have account access after trading services end so they can view balances, review transaction records, and withdraw remaining assets. However, the company strongly encouraged customers to complete withdrawals before the Sept. 23 closure deadline.

Verified users who leave funds on the platform after Sept. 23 will be charged monthly account fees. The fee will be either $50 or 1% annually on remaining balances, whichever amount is greater.

The exchange also warned users to be alert for phishing campaigns that may exploit the shutdown announcement through fake withdrawal offers or fraudulent support services. BitMEX said it does not offer a priority withdrawal service, even if increased network activity causes processing delays.

Additional withdrawal reviews may also lengthen processing times, particularly for Bitcoin transactions that require longer blockchain confirmations. BitMEX said its proof-of-reserves shows that customer assets exceed outstanding liabilities.

Early Crypto Derivatives Platform Ends Operations

Founded in 2014, BitMEX became one of the cryptocurrency sector’s earliest derivatives exchanges. It is known for introducing the 100x leverage perpetual swap product, an instrument that later became one of the most widely traded derivatives products across centralized and decentralized crypto exchanges.

The company also said it maintained a record of zero customer funds lost through hacks over its operating history of more than 11 years. BitMEX described that record as reflecting its long-running focus on platform security and the protection of user assets.

The planned closure follows recent leadership changes after reports that the company had explored a potential sale. Former Chief Operating Officer Peter Wilkinson recently became chief executive following the departures of several senior executives.

BitMEX also faced major regulatory challenges in prior years. In 2022, its founders pleaded guilty to U.S. anti-money laundering violations. After resolving those legal issues, the exchange has now chosen to wind down operations, ending the run of a platform that helped shape the global crypto derivatives market.