- BitMEX will shut down on September 23 at 04:00 UTC.
- Traders cannot open new positions after August 26.
- Remaining positions will close automatically before the final shutdown.
BitMEX closure plans will end one of crypto’s longest-running derivatives platforms on September 23, 2026, at 04:00 UTC. According to an announcement published on Thursday, HDR Global Trading Limited approved the shutdown after reviewing the business and wider digital asset market. New account registrations have already stopped, while existing users can continue managing positions during the transition period.
BitMEX Closure Timeline Sets August Trading Restrictions
Trading will continue normally until August 26. After that date, users may only reduce existing positions, with no new positions permitted. BitMEX will then begin closing outstanding contracts gradually to limit disruption before the final deadline.
Any position still open at the closure time will close automatically. Illiquid contracts may settle earlier under existing exchange procedures. After the BitMEX closure, account access will remain available for balance checks, transaction records and withdrawals.
The exchange has also unstaked all BMEX tokens, making them available to holders. Verified users who leave assets on the platform after closure will face custody charges. The fee will be at least $50 or 1% annually, charged monthly.
BitMEX Shutdown Reflects Shifting Derivatives Competition
BitMEX launched in 2014 and helped popularize perpetual swaps with leverage reaching 100 times. The company says no user funds were lost through hacks during more than 11 years of operation. Its BitMEX closure therefore ends a major chapter in centralized crypto derivatives trading.
Market conditions have also changed. CoinGecko reported centralized perpetual futures volume fell 10% to $12.7 trillion during the second quarter. Meanwhile, decentralized venues have gained a larger role, led by platforms such as Hyperliquid.
Users remain responsible for closing positions and withdrawing assets before September 23. BitMEX warned that enhanced withdrawal checks and blockchain confirmation delays may slow processing. The exchange also cautioned customers against phishing messages linked to the BitMEX closure.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
