BitMEX closes September 23. The exchange that invented 100x leveraged bets is officially done.
It tried to sell. The sale didn't close. Now the positions are closing instead.
CryptoVibe Desk · bitmex · exchange · derivatives
- →BitMEX shuts down September 23, 2026, with new signups already closed and traders restricted to closing positions from August 26.
- →The exchange ran 11 years without a hack, but a failed sale process and a complete executive walkout last month left it with no path forward.
- →Withdraw funds before September 23 or face custody charges of at least $50 or 1% annually; any open positions at shutdown will be auto-closed.
- Perpetual swap → A contract that lets you bet on whether a crypto price goes up or down, with no expiry date, often using high leverage so a small price move can wipe out your deposit.
- KYC → Know Your Customer, the identity verification process where you submit your ID to an exchange so it can confirm who you are, relevant here because verified and unverified users face different closure terms.
BitMEX closes September 23, 2026. HDR Global Trading announced the shutdown yesterday after a strategic review of its business and the digital asset sector.
New signups closed with the announcement. From August 26, traders can only reduce positions, not open new ones. Anything still open at 04:00 UTC on September 23 gets auto-closed.
The exchange ran for over 11 years without a single hack. BitMEX invented the perpetual swap, the contract type now traded at every major crypto exchange. The business quietly ran out of road: a sale process managed by Broadhaven Capital Partners this year did not close.
Last month, CEO Stephan Lutz, CFO Ina Steiner, and Chief Growth Officer Raphael Polansky all left. Peter Wilkinson took over as CEO. That kind of shakeup at a firm already in a sale process doesn't end well.
If you have funds on BitMEX, withdraw before September 23. Users who complete KYC but don't withdraw will face custody charges of at least $50 or 1% annually, billed monthly, per Decrypt. The exchange has also warned about phishing attacks using this announcement as cover.
BitMEX unstaked all BMEX tokens held in staking. They are available to holders now.
HDR Global Trading's sale process ended with no buyer. Its executive team exited the same month it announced a shutdown. The sequence is the verdict.
Watch whether the post-closure custody fee structure draws regulatory scrutiny from the CFTC or FinCEN, given BitMEX's AML legal history. Any inquiry would likely surface before year-end 2026.
Primary links and supporting reads used by the desk for this story.
- pressDecrypt: BitMEX to Close on September 23, Halts New Sign-Ups
- pressCrypto Briefing: BitMEX to shut down exchange after 11 years of operations (full text)
- CoinTelegraph: BitMEX to shut down after 11 years in crypto derivatives
- BeInCrypto: BitMEX Exchange Announces Shut Down, Ending 11-Year Run
- CryptoNews: Crypto exchange BitMEX ends 11-year run with planned exchange shutdown
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