BitMEX Shutdown Sparks Concern Among Crypto Traders
BitMEX will stop trading and force-close all open positions on September 23 at 04:00 UTC. The exchange's owner, HDR Global Trading Limited, announced that it would be closing down after an 11-year run due to a strategic review by its board.
The closure is not the result of financial distress or regulatory pressure, according to BitMEX, but rather a deliberate decision by the company. All new accounts have been blocked since July 23, and risk limits are in place for existing customers to prevent them from increasing their positions.
Customers can still log in after closure to view transaction records and request withdrawals through a simplified interface. However, balances left behind will face an account fee of either 1% per year or $50 equivalent, whichever is greater.