BitMEX Exchange to Shut Down Permanently in September

BitMEX, one of the original major players in crypto derivatives, will officially close its doors on September 23. The exchange stopped accepting new accounts immediately and is now pushing current users to close their positions and withdraw their assets as soon as possible.

Starting August 26, the platform will limit trading activity to reduce only mode. If you have any open positions left when the final deadline arrives, the exchange will force close them. Users who leave funds behind after the shutdown face a recurring monthly fee, so moving assets quickly is the safest approach. The company also warned users to avoid scams that claim to offer faster payout services.

This decision marks the end of a decade long run for the platform that popularized the 100x leverage perpetual swap. The exchange faced a series of regulatory hurdles and leadership changes in recent years. While the founders were pardoned after previous legal issues, the firm struggled to find a path forward and reportedly sought a buyer earlier this year.

If you have an account, make sure to log in and withdraw your funds before the cutoff date. The team confirmed that staked BMEX tokens have already been returned to user accounts to simplify the exit process.