BitMEX ends exchange operations, keeps web withdrawals open after shutdown
After winding down a business that operated for more than 11 years, BitMEX stops all exchange activity at 4:00 UTC on Wednesday while continuing to let customers access remaining balances. The crypto derivatives platform no longer accepts trades or deposits, and API-based withdrawals are set to end on Sept. 28.
Highlights
- BitMEX ended trading and deposit functions on Sept. 23, but web platform withdrawals remain open with API withdrawals ceasing Sept. 28.
- BitMEX states the closure results from a strategic business review by HDR Global Trading Limited, not from legal or regulatory pressures.
- Celsius bankruptcy estate recently sued five BitMEX-linked entities, seeking nearly $490 million in Bitcoin over alleged fraud and manipulation tied to March 2020 events.
Shutdown timeline and withdrawal process
As reported by Cointelegraph, citing BitMEX in an X post on Wednesday, the platform has closed trading and deposit functions, while users can still log in through the website to withdraw funds. The company says customer assets remain secure and urges clients to remove remaining balances during the final wind-down stage.BitMEX says application programming interface withdrawals will be disabled on Sept. 28, which means customers must complete withdrawals through the web platform after that date. The exchange first announced on July 23 that it would cease services on Sept. 23 following a strategic review by owner and operator HDR Global Trading Limited.
Market context and legal backdrop
Founded in 2014, BitMEX became an early force in crypto derivatives trading and helped popularize perpetual swaps with leverage of up to 100 times. The company says the closure follows a review of the business and the broader crypto industry, and is not tied to legal or regulatory issues.The shutdown comes days after the Celsius bankruptcy estate sues five BitMEX-linked companies, alleging fraud, market manipulation and wrongful liquidations connected to 6,360 Bitcoin during the March 2020 market crash. The estate is seeking Bitcoin valued at nearly $490 million when the lawsuit is reported.
Our earlier article on Intercontinental Exchange’s global clearing network explained how the group positions centralized clearing as core market infrastructure for cross-border derivatives trading. We outlined ICE’s focus on governance standards, risk frameworks, and multiple layers of protection designed to improve operational and capital efficiency and strengthen stability during volatile conditions.
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
