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BitMEX to permanently shut down exchange on Sept. 23

BitMEX says it will apply risk limits starting Aug. 26, block new positions, and force-close any trades still open at shutdown.

Reported · Written up by our desk · Market Structure

BitMEX announced it will permanently shut down its crypto derivatives exchange on Sept. 23, urging users to close positions and withdraw funds before the deadline, according to The Defiant. The decision was attributed to Owner and operator HDR Global Trading Limited, which said it made the call following a strategic review of the business.

The exchange said it will begin applying risk limits on Aug. 26 that block new positions and allow only reduce-only trades, with any positions remaining open at closure to be force-closed immediately. BitMEX also stopped new account registrations on the day of the announcement.

For users who are KYC'd but do not withdraw by closure time, BitMEX said it will charge a monthly account fee of a $50 equivalent or 1% per annum, whichever is greater, on remaining balances. The exchange also said withdrawals and login access will remain available after closure.

The Defiant also notes the exchange had been seeking a buyer since February 2025, when it retained Broadhaven Capital Partners to run a sale process, and it did not say whether the process produced a bidder. Separately, BitMEX had pleaded guilty in 2024 to violating the Bank Secrecy Act over an inadequate anti-money laundering program and was hit with a $100 million fine in January 2025, before its co-founder was pardoned in March 2025.

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