Crypto▼ Bearish
BitMEX Shuts Down as Crypto ATM Losses Hit $124M
BitMEX closure, $124M in ATM thefts, bridge exploits, and stalled Clarity Act legislation mark a week of heightened crypto market risks.
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BitMEX is shutting down in September, ending an 11-year run as one of crypto's largest derivatives exchanges. Daily trading volumes had fallen to $84 million, and the exchange faces a class action lawsuit alleging fraudulent practices. A restructuring adviser tied the closure to wider consolidation in the crypto industry.
The shutdown came alongside two other risk events this week. Blockchain security firm CertiK reported $124.1 million in financial losses from home invasions linked to crypto theft in the first half of 2026. Criminals are bypassing digital defenses and using coercion at people's homes, CertiK said. On the protocol side, bridge exploits at AFX and Verus Protocol cost more than $31.6 million, an on-chain investigator said. Cross-chain bridges remain a weak point, the investigator added.