BitMEX Ceases Exchange Operations Amid Strategic Review

BitMEX has ceased all exchange operations as of 4:00 UTC on Wednesday, marking the end of its over 11-year run. The platform no longer allows trading or deposits, but users can still log in and withdraw their remaining balances through the website.

The closure comes two months after BitMEX announced plans to shut down due to a strategic review of its business and the broader crypto industry. The company has repeatedly emphasized that this decision was not linked to any regulatory issues or legal problems.

As part of its gradual phaseout, BitMEX will disable API withdrawals on September 28, requiring users to process withdrawals through the web platform.

The platform's owner and operator, HDR Global Trading Limited, launched BitMEX in 2014 as a major venue for crypto derivatives. It helped popularize perpetual swaps with leverage of up to 100 times.