BitMEX to shut down in September after 11-year derivatives run

The platform has lost significant market share to Binance, Bybit, OKX and newer venues like Hyperliquid over the past several years. Despite the decline, BitMEX said no customer funds have been lost in its history.

New account registrations have already been halted. Existing users are being told to close positions and withdraw funds before the shutdown date. Positions that remain open will be force-closed. “We want to reassure you that your assets remain fully safe and under your control during this transition period,” the exchange said.

The community reaction has been largely nostalgic. “Definitely an end of an era for the crypto space,” one user wrote on social media, recalling their first crypto trade on BitMEX.

Public blockchain records show co-founder Arthur Hayes has bought 3,270 Ether over the past eight days, worth about $6.3 million, on other platforms. He has not traded on BitMEX.