Key facts
- BitMEX ceased all exchange operations on Wednesday after over 11 years.
- Users can still withdraw funds via the website.
- API withdrawals will be disabled on September 28.
- The closure is due to a strategic review by owner HDR Global Trading Limited.
- The decision to close was not linked to legal or regulatory issues.
BitMEX, a prominent crypto derivatives exchange, has officially ceased all trading and deposit operations after more than 11 years in business. The platform announced its closure on Wednesday, urging users to withdraw their remaining funds. While trading is no longer possible, users can still access their accounts and process withdrawals through the BitMEX website. The exchange plans to disable application programming interface (API) withdrawals on September 28, requiring all remaining withdrawals to be handled via the web platform. According to BitMEX, its owner, HDR Global Trading Limited, decided to close the exchange following a strategic review of the business and the broader cryptocurrency industry. The company emphasized that the closure is not related to any legal or regulatory issues. BitMEX, launched in 2014, was instrumental in popularizing perpetual swaps with high leverage. The closure comes shortly after the Celsius bankruptcy estate filed a lawsuit against five BitMEX-linked companies, alleging fraud and market manipulation related to Bitcoin during the March 2020 market crash.