The crypto exchange will cease trading on Sep. 23, imposing penalties on remaining assets after a decade in operation.
Cryptocurrency exchange BitMEX will close its operations on September 23 after 11 years, following a strategic review by its owner, HDR Global Trading Limited. Users have been instructed to withdraw funds by the deadline to avoid a $50 monthly maintenance fee or an annualized 1% levy on remaining assets.
Founded in 2014 by Arthur Hayes, Ben Delo, and Samuel Reed, BitMEX became a key player in crypto derivatives trading. The exchange highlighted its flawless record of zero customer fund losses but confirmed new account registrations are halted immediately.
BitMEX’s native token, BMEX, collapsed nearly 90% following the announcement, reducing its market value to approximately $497,000. The exchange assured users that assets remain secure and under their control during the transition.