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BitMEX Ceases Operations After 11 Years

29 Jul

Summary

BitMEX is shutting down its cryptocurrency exchange in September.
New registrations stopped immediately, with trading ending August 25.
The exchange pioneered perpetual swaps in 2016, reshaping crypto trading.

Cryptocurrency exchange BitMEX announced it will cease operations in September, concluding 11 years in the market. New user registrations were halted immediately, and trading will fully conclude by August 26. The exchange, which introduced the perpetual swap in 2016—a significant innovation adopted widely—will enter a reduced-only mode on August 26.

All outstanding user positions are scheduled for a force-closure on September 23. Following this, accounts with remaining assets will be subject to a monthly fee. The decision follows a strategic review by HDR Global Trading Limited, BitMEX's owner and operator. Despite past legal challenges, including fines for anti-money laundering violations, BitMEX highlighted its security record, stating no funds were lost to hacks during its operation.

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