BitMEX ends crypto trading, keeps withdrawals open after closure

BitMEX stopped all trading and deposit functions at 04:00 UTC on 23 September 2026, ending more than a decade of operation as a crypto derivatives exchange.

Withdrawal window remains open

Users can still log in to the platform and withdraw any remaining balances via the website. The exchange announced that API‑based withdrawals will be disabled on 28 September, requiring all withdrawals to be processed through the web interface.

Reason for shutdown

HDR Global Trading Limited, the owner and operator of BitMEX, said the decision follows a strategic review of its business and the broader cryptocurrency industry. The company emphasized that the closure is not related to any legal or regulatory actions.

Historical context

Founded in 2014, BitMEX became a leading venue for crypto derivatives, popularising perpetual swaps with leverage up to 100×. The platform announced its intent to cease exchange services on 23 July 2026, setting a final shutdown date for 23 September 2026.

Recent legal backdrop

Days before the shutdown, the Celsius bankruptcy estate filed a lawsuit against five entities linked to BitMEX, alleging fraud, market manipulation and wrongful liquidations involving 6,360 BTC during the March 2020 market crash. The estate seeks roughly 490 million USD worth of Bitcoin.