BitMEX Allows Withdrawals for Previously Barred Users in Six Jurisdictions
Withdrawals reopen for restricted users
BitMEX, a cryptocurrency derivatives platform known as an exchange (a place to trade digital assets), has opened a path for customers to withdraw funds. This applies to users in six specific regions who were previously blocked from accessing the platform.
The move comes after the company ceased all trading operations on September 23, 2026. While the trading platform is closed, the system for moving money out remains active for eligible accounts.
Which regions can withdraw now?
- Users in the United States, Canada, Hong Kong SAR, Bermuda, Seychelles, and Myanmar can now log in.
- These customers must complete identity verification steps, known as Know Your Customer (KYC) checks, before withdrawing.
- The policy change is temporary and intended solely to help people recover funds left on the platform after the shutdown.
Sanctioned areas remain excluded
Not all restricted regions are included in this reopening. Customers in Cuba, Iran, North Korea, and certain Russian-occupied areas of Ukraine still face access blocks due to international sanctions.
However, some individuals from these areas may qualify for exceptions. For example, Iranian nationals living outside Iran who are not subject to US, UN, or EU sanctions can apply for withdrawal by proving their residence. Similarly, Russian nationals residing in the European Union or Switzerland may request access with proof of address, such as utility bills or bank statements. All such requests undergo individual review.
Fees and warnings for remaining funds
BitMEX warns that users should not send new deposits to the platform, as incoming funds will not be credited. Existing balances can be withdrawn via the web portal, but users must meet minimum amount requirements and pay network fees (costs charged by the blockchain to process transactions).
The company also noted that funds left on the exchange may start accumulating account fees as the wind-down continues. This creates a financial incentive for users to withdraw their assets promptly.
Background on the shutdown
Founded in 2014 by Arthur Hayes, Ben Delo, and Samuel Reed, BitMEX operated for 11 years before closing. The platform faced significant regulatory challenges, including a 2024 guilty plea for violating the US Bank Secrecy Act, which resulted in a $100 million penalty. The founders received a pardon in March 2025.
What happens next
Users who cannot access their accounts are directed to contact BitMEX support. The exchange continues to monitor all withdrawal activity to ensure compliance with relevant laws.
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