BitMEX to Shut Down in September

Crypto derivatives exchange BitMEX will cease operations in September, the company announced Thursday on its website.

BitMEX announces closure following strategic review. HDR Global Trading Limited, the owner and operator of the platform, said its board reached the decision after examining the business along with conditions across the wider crypto sector. The exchange offered no additional explanation for the shutdown.

Users urged to withdraw funds immediately. BitMEX instructed customers to pull out their assets "as soon as practical." Services will continue normally until September 23, after which the platform will retain client holdings solely until withdrawal.

Platform unstakes all BMEX tokens. The firm confirmed it had unstaked every staked BMEX Token, making them immediately accessible in user accounts. In its statement, BitMEX underscored its longstanding commitment to "neutrality, transparency, and decentralisation" through peer-to-peer operations and an emphasis on safeguarding client funds.

BitMEX reflects on its history as a crypto pioneer. While calling the announcement difficult to deliver, the exchange voiced pride in its achievements since pioneering crypto derivatives. The statement affirmed the platform had "always remained grounded to the true ethos of Bitcoin."

Company faced multiple regulatory actions. Run by Arthur Hayes, BitMEX has encountered repeated legal troubles. Authorities previously determined the exchange permitted U.S. customers to trade without identity checks. In 2021 it paid $100 million in civil penalties after the U.S. Financial Crimes Enforcement Network alleged senior executives modified U.S. client data to conceal actual locations.

Founders faced charges and later received pardons. Founders Arthur Hayes, Benjamin Delo, and Samuel Reed each pleaded guilty in 2022 to Bank Secrecy Act violations for not maintaining an anti-money laundering program and paid $10 million fines. Last year the exchange received another $100 million penalty tied to the same guilty plea. Following the election of crypto-friendly President Donald Trump, all three founders received pardons in 2025.