BitMEX Shuts Down, Force-Closes Open Positions, and Imposes Account Fee

BitMEX, the Seychelles-based cryptocurrency derivatives exchange, has ceased operations after eleven years. The exchange shut down trading orders at 04:00 UTC on September 23 and force-closed open positions. Anyone still holding a balance will now pay an account fee of 1 percent per year or $50 per month, charged monthly.

The closure was announced on July 23, with new account openings halted at the time. The exchange cited a strategic review as the reason for the shutdown. In the period leading up to the cut-off date, BitMEX applied tightened risk limits and force-closed open positions in an orderly wind-down process.

For those still holding residual balances, it is essential to secure account documents and transaction history before the interface eventually switches off. The login will remain available for now, but users are advised to download their complete transaction history while possible.