BitMEX Shuts Down Crypto Trading, Leaves Withdrawals Open
BitMEX officially ends exchange operations
BitMEX has officially stopped all crypto trading and deposit functions. The closure took effect at 4:00 UTC on Wednesday, September 23, 2026. The platform, which launched in 2014, is shutting down after more than 11 years of operation.
While trading has stopped, the exchange has not completely vanished. Users can still log in to their accounts and withdraw their remaining balances through the website. BitMEX stated that user funds remain secure during this final phase.
Key details of the shutdown
- BitMEX ceased all exchange operations on September 23, 2026.
- The platform has been operational for over 11 years, since 2014.
- Trading and new deposits are no longer allowed.
- Withdrawals of existing funds remain open for users.
- Automated trading tools (API) will be disabled on September 28.
Reasons for the closure
BitMEX operator HDR Global Trading Limited announced that the decision to close was made after a strategic review of the business and the broader cryptocurrency industry. The company explicitly stated that the closure is not linked to any legal or regulatory issues.
BitMEX originally announced its plan to shut down on July 23, giving users two months to prepare. The exchange was known for popularizing perpetual swaps, a type of financial contract that allows traders to bet on price movements with leverage of up to 100 times.
Upcoming changes for users
As the platform winds down, BitMEX is making final adjustments to how users can access their money. Starting September 28, the platform will disable API withdrawals. This means automated software used by many traders will no longer be able to move funds. Users will need to process all withdrawals manually through the BitMEX website after this date.
Legal context
The shutdown comes shortly after a legal dispute involving the platform. Days before the closure, the bankruptcy estate of the crypto lender Celsius filed a lawsuit against five companies linked to BitMEX. The estate alleges fraud, market manipulation, and wrongful liquidations related to 6,360 Bitcoin during the market crash in March 2020. The estate is seeking Bitcoin worth approximately $490 million at the time the lawsuit was reported.
What remains unclear
While BitMEX confirms funds are secure, it has not specified how long withdrawals will remain accessible after the initial shutdown date. The company urges customers to withdraw their balances as soon as possible, but a firm deadline for the complete cessation of all account access has not been provided in the current announcement.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.