Key facts
- BitMEX will cease operations on September 23, 2026.
- New account registrations have been halted.
- Users must close positions and withdraw funds before the September 23 deadline.
- New positions will be barred from August 26.
- All open positions will be force-closed by September 23.
- BitMEX stated it experienced zero funds lost to hacks in over 11 years.
BitMEX, the cryptocurrency derivatives exchange co-founded by Arthur Hayes in 2014, will cease operations on September 23, 2026. The decision was made by its owner, HDR Global Trading Limited, following a strategic review of the business and broader crypto industry conditions. New account registrations have already been halted. Users are instructed to close their positions and withdraw funds before the September 23 deadline. Risk limits will begin to apply from August 26, and any positions remaining open at the time of closure will be force-closed. BitMEX highlighted its record of over 11 years of operation without any customer funds being lost to hacks. The exchange was instrumental in popularizing perpetual swap contracts, once holding a dominant market share before facing competition from exchanges like Binance and Bybit. Hayes and co-founders stepped down following U.S. criminal charges in 2020, and the exchange later pleaded guilty to Bank Secrecy Act violations in 2024, paying $100 million in penalties, though the founders received pardons in March 2025. BitMEX stated that user assets remain safe during the transition, but warned that it may force-close positions and will not be responsible for trading losses if users fail to manually close them. An account fee of $50 or 1% per annum may apply to remaining balances in dormant accounts after closure.