BitMEX Exchange Shuts Down September 23 After $200M in Fines and Failed Sale

BitMEX will permanently shut down on September 23, 2026, following a prolonged regulatory pressure period that culminated in about $200 million in fines and a failed attempt to sell the business. The parent company, HDR Global Trading Limited, said the exchange will cease operations at 04:00 UTC on the date, after an 11-year run. Users with active accounts will have 61 days to close positions and withdraw funds before penalty fees begin, and BitMEX said the closure is not due to insolvency. The exchange states its assets exceed liabilities and that it has never lost a single dollar of customer funds to a hack or security breach. BitMEX helped popularize perpetual swap contracts, which drove an estimated $85.3 trillion in 2025 trading volume across crypto futures, yet it held only about 0.08% of that market at the time.