BitMEX to Force-Close Positions Sept. 23 as Volume Dries Up

Unwithdrawn balances after the closure date will incur a monthly account fee of $50 or 1% per annum, whichever is greater, BitMEX said. The exchange will apply risk limits starting Aug. 26 that prevent new positions; only position reductions will be allowed from that point.

The wind-down reflects a broader contraction in crypto derivatives. BitMEX’s thin order book could amplify slippage for late exits, especially if many users attempt to unwind simultaneously. The exchange said it will keep its withdrawal interface active for a limited period after closure but urged users to move funds before the deadline.

For traders using programmatic access, BitMEX advised scheduling a staged unwind before the reduce-only phase begins. Automation logic that attempts to open new risk will fail after Aug. 26. The exchange also recommended exporting position history and tax records for audit purposes before the platform goes dark.