Cryptocurrency derivatives exchange BitMEX will cease operations on September 23, 2026, at 04:00 UTC, following what the company described as a strategic review of its business. The Seychelles-based platform has already stopped accepting new account registrations, and from August 26, 2026, users will only be able to reduce existing positions.
Timeline of the wind-down
BitMEX laid out a phased closure schedule. As of the announcement, no new accounts can be opened. Starting August 26, 2026, traders will be blocked from opening new positions; only reductions will be allowed. On the final closure date, any open trades still on the books will be force-closed to settle the market in order. The exchange warned users to close their positions before the deadline to avoid automatic liquidation.
Fees for unwithdrawn balances
Users who have completed Know Your Customer (KYC) verification and leave funds on the platform after the shutdown will face a monthly fee of 50 USD or 1% per year — whichever is higher — on unwithdrawn balances. The fee is designed to encourage timely withdrawals. BitMEX did not specify what happens to funds left by users who have not completed KYC.
BMEX token holders
BitMEX said it has unstaked all BMEX Token holdings and returned them to user accounts. The move ensures token holders can manage their assets ahead of the closure.
Scam warnings
The exchange also issued a warning about potential scams related to the shutdown. BitMEX advised users to rely only on official communications and to be wary of third parties offering to help withdraw funds or recover assets.
The shutdown marks the end of a platform that once dominated the crypto derivatives market. Users have until September 23, 2026, to withdraw their funds and close any remaining positions. After that date, the exchange will no longer operate.
