BitMEX Shuts Down: Trading Ends After 11 Years, Withdrawals Still Open
BitMEX, known for introducing 100x leverage in crypto trading, has ceased all trading and deposits. Users can still withdraw funds, but fees now apply to balances left on the exchange. The platform's co-founder, Arthur Hayes, co-founded the exchange in 2014.
Key takeaways
- BitMEX ceased all trading and deposits at 04:00 UTC on September 23, 2026.
- Users can still withdraw funds, but fees now apply to remaining balances.
- The shutdown follows closures of AscendEX and Tether-backed Orionx.
- BitMEX pioneered perpetual swaps and 100x leverage in crypto trading.
BitMEX, the crypto exchange that pioneered perpetual swaps and high-leverage trading, has officially shut down after 11 years of operation. The platform stopped all trading and deposits at 04:00 UTC on Wednesday, marking the end of an era for one of the most influential exchanges in crypto history.
Users are still able to log in and withdraw their remaining funds, but the exchange is urging them to do so promptly as fees will now apply to any balances left on the platform.
Why the Timing Matters
BitMEX's shutdown comes amid a wave of closures in the crypto exchange space, including AscendEX and Tether-backed Orionx. The timing raises questions about the sustainability of high-leverage trading platforms in the current regulatory environment.
What It Means for Users
For BitMEX users, the shutdown means it's time to act quickly. The exchange is applying fees to any remaining balances, so withdrawing funds as soon as possible is advisable. Users should also be aware that the process may take some time, given the likely influx of withdrawal requests.
What's Next for Crypto Exchanges
BitMEX's closure highlights the challenges faced by crypto exchanges, particularly those offering high-leverage products. As regulatory scrutiny increases, other exchanges may need to adapt their offerings or risk facing similar fates. For now, users are encouraged to stay informed about the status of their funds and any updates from BitMEX regarding the withdrawal process.
For more on crypto exchange shutdowns, see our coverage of Bitcoin DeFi Project Botanix and Bitcoin Depot's bankruptcy.
Frequently asked questions
What happened to BitMEX?
BitMEX has officially shut down after 11 years, ending all trading and deposits. Users can still withdraw funds but are urged to do so quickly due to fees on remaining balances.
Can I still withdraw funds from BitMEX?
Yes, users can still log in and withdraw their remaining funds, but fees will apply to any balances left on the platform.
Why is BitMEX shutting down?
The shutdown comes amid increased regulatory scrutiny and a wave of closures in the crypto exchange space, particularly for high-leverage trading platforms.
What should I do if I have funds on BitMEX?
Users should withdraw their funds as soon as possible to avoid fees on remaining balances and stay informed about any updates from BitMEX regarding the withdrawal process.