BitMEX Shuts Down After 11 Years, Users Have Until Sept. 23

Operations will run normally until late August. Starting Aug. 26 at 04:00 UTC, users can only reduce or close existing positions, not open new ones. The exchange will force-close any remaining open positions ahead of the shutdown in what it called an orderly wind-down. BMEX tokens held in staking have been unstaked and are immediately available to holders.

BitMEX warned users about potential phishing scams tied to the closure. Withdrawal processing could face delays from Bitcoin blockchain congestion, the exchange said, calling the offramping of user assets into fiat the main operational challenge.

The closure comes as centralized exchange perpetual futures volume fell 10% to $12.7 trillion in Q2 2026, per industry data. Decentralized alternatives like Hyperliquid have gained ground, becoming the second-largest perpetuals exchange by open interest behind Binance.

BitMEX co-founder Arthur Hayes did not comment publicly on the decision. The company did not disclose whether the sale process that began last year produced a bidder, or what the strategic review found.