BitMEX Ends Crypto Trading After 11 Years

BitMEX has ended all exchange trading after more than 11 years, closing its derivatives and spot operations at 04:00 UTC on Sept. 23 while keeping customer withdrawals available.

Trading, deposits and new positions are no longer available. Users can still log in to view balances and transaction history and withdraw remaining assets to external wallets.

Remaining Positions Were Force-Closed at 04:00 UTC On September 23 

BitMEX spent the weeks before closure reducing activity across the platform. Risk limits introduced in August prevented traders from increasing positions, while illiquid derivatives and spot markets were removed in stages.

All remaining spot pairs stopped trading on Sept. 21, followed by the removal of Convert on Sept. 22.

Any derivatives positions still open at the final cutoff were force-closed using the relevant settlement price or index. Proceeds were added to users’ wallet balances for withdrawal.

Deposits also ended at 04:00 UTC. BitMEX warned that crypto sent to its deposit addresses after the deadline will not be credited and may not be recoverable.

API Withdrawals Stop September 28 as Account Fees Begin 

BitMEX has not set Sept. 23 as a final withdrawal deadline. Customers with remaining balances can continue accessing the platform specifically to remove funds.

Remaining balances are subject to account service fees. BitMEX’s latest fee notice says monthly deductions begin Oct. 1, with the closure terms setting the charge at the greater of a 1% annual rate or $50 equivalent. The rate may increase with advance notice.

Further withdrawal changes begin Sept. 28 at 04:00 UTC. API withdrawals, including institutional integrations through Fireblocks and Copper, will stop, leaving withdrawals to be submitted manually through the BitMEX website.

USDT, USDC and ETH will also lose multi-network withdrawal support and become available for withdrawal only over Ethereum.

Strategic Review Ends BitMEX’s 11-Year Exchange Run 

HDR Global Trading, BitMEX’s owner and operator, decided to close the exchange after reviewing the business and broader crypto industry. BitMEX said the closure was not caused by financial distress, a hack or immediate regulatory pressure.

The shutdown ends trading on a platform that introduced the crypto perpetual swap and operated for more than 11 years. BitMEX now remains accessible primarily for customer withdrawals and wind-down support.