BitMEX Halts Trading as Derivatives Exchange Winds Down Operations
The exchange stopped trading, deposits and new positions at midnight ET on Sept. 23, while web withdrawals remain open for users.
BitMEX halted trading, deposits and new positions at 12 a.m. ET (04:00 UTC) on Sept. 23 as the derivatives exchange began winding down its operations, with account access and withdrawals still available through its website.
New deposits will not be credited, and users have been told not to send funds to BitMEX deposit addresses. The exchange has advised customers to withdraw available balances as the wind-down continues.
KYC-completed users who keep funds on the platform will be charged a monthly account fee calculated using an annualized rate of 1% or an equivalent $50 minimum, whichever is higher. BitMEX also plans to introduce phased security measures during the withdrawal period, including a simplified website, KYC updates and a cooling-off period.
The closure follows a staged shutdown. BitMEX removed its remaining spot trading pairs on Sept. 21 and stopped its Convert function on Sept. 22. The platform previously settled and delisted several perpetual contracts and futures on Sept. 16.
BitMEX helped establish perpetual contracts, which have become a core product in crypto derivatives markets. Its XBTUSD contract, launched in 2016, was described as the longest-running perpetual contract in crypto history.
