BitMEX introduces fees for funds remaining on the platform

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BitMEX charges $50 monthly

Highlights

BitMEX ended exchange operations on Sept. 23 after 11 years.
Verified accounts with balances face a $50 monthly minimum.
Customers can still log in and withdraw available funds during the wind-down.

The exchange ceased operations at 04:00 UTC on Sept. 23, ending trading, new positions, and deposits. Customers who complete identity verification and retain funds are charged either $50 a month or a fee based on 1% per year of their balance, whichever is higher, according to Cryptopolitan. The percentage-based charge is calculated annually but deducted monthly.

Withdrawals remain available

BitMEX customers can still access their accounts and submit withdrawal requests. The company has said available customer funds remain withdrawable, subject to minimum withdrawal thresholds, even though its exchange services have stopped.

New deposits, however, are no longer accepted. Crypto sent to former BitMEX deposit addresses after the closure time will not be credited to customer accounts and may not be recoverable.

Processing withdrawals could also take longer because of account reviews, demand, and blockchain confirmation times. BitMEX has separately warned customers about phishing attempts claiming to offer faster access to funds, saying it does not provide priority or expedited withdrawals.

The exchange previously indicated that charges on remaining balances could increase over time, with customers to be notified before changes take effect.

An early crypto derivatives giant exits

Founded in 2014 by Arthur Hayes, Ben Delo, and Samuel Reed, BitMEX became one of the most influential early crypto derivatives venues. It helped popularize perpetual swaps, contracts without an expiration date, and became known for offering leverage of up to 100 times.

The exchange later lost ground as larger rivals expanded their derivatives businesses. HDR Global Trading Limited, the Seychelles-based company behind BitMEX, said in July that the shutdown followed a strategic review of the business and the broader cryptocurrency industry. BitMEX says the decision was not caused by financial distress, a hack, or immediate regulatory pressure.

The cost of leaving funds behind

For remaining customers, the shutdown now shifts attention from trading to asset recovery. A flat $50 monthly minimum can be particularly significant for smaller balances, while larger accounts may eventually incur the percentage-based charge instead.

BitMEX says fees are deducted only from balances held on the platform. Accounts cannot fall below zero, meaning customers will not owe additional money once their remaining balance has been depleted.

Earlier, we reported that Brooklyn man sentenced for over $16 million theft from Coinbase users.

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