HDR Global Trading Limited has announced the closure of the BitMEX crypto exchange, effective from September 2026.
The initiative is following a strategic review of the business and the wider crypto industry. The company has stopped accepting new account registrations with immediate effect.
BitMEX launched in 2014 with a focus on providing derivatives trading for professional crypto traders. The platform introduced the 100x leverage perpetual swap, a product that has since been adopted across the industry by other exchanges. Over its operating history of more than eleven years, the company states that it has not experienced any loss of user funds due to hacking incidents.
According to the official announcement, the board's decision to wind down the exchange follows an internal assessment of the company's position within the broader digital asset trading sector, though the announcement does not detail the specific factors behind the closure beyond this review.
Wind-down process and timelines
BitMEX will continue to operate normally until the closure date, but risk limits will be applied from 26 August 2026 at 04:00:00 UTC, after which users will only be able to reduce existing positions rather than open new ones. Between that date and the closure time, the exchange will force-close open positions to manage an orderly wind down, with any remaining positions closed automatically once the closure takes effect. Contracts with limited liquidity will be subject to early settlement procedures, with notice given according to the company's standard practices.
Staked BMEX tokens have already been unstaked and made available in holder accounts.
Implications for users
Users retain access to their accounts after the closure date to view balances and transaction history and to withdraw funds. However, KYC-verified users who have not withdrawn their assets by the closure time will be charged a monthly account fee of USD 50 equivalent, or 1% per annum, whichever is greater, with the possibility of future fee increases communicated in advance.
Moreover, the company has also warned users to be alert to phishing attempts that may exploit the closure announcement, noting that no expedited or priority withdrawal service exists. Additional review procedures will be applied to withdrawal requests during the wind-down period, and processing times may be affected by blockchain confirmation delays, particularly for assets such as Bitcoin. The company has pointed users to its Proof of Reserves and Liabilities page to confirm that assets exceed liabilities throughout the process.
