BitMEX Shuts Down Operations Amid Failed Buyer Search

BitMEX is shutting down its exchange operations after more than 11 years in business. The shutdown began with the removal of trading services, with spot and conversion markets removed on September 21 and derivatives settled on September 16.

The final stage of the closure will occur at 04:00 UTC on September 23, when any remaining positions will be force-closed using the relevant contract settlement price. Customers can withdraw their funds after this time, although they will need to comply with new verification steps and account fees may apply.

BitMEX's owner and operator, HDR Global Trading Limited, approved the closure following a strategic review of the business and the broader crypto industry. The exchange had reportedly sought a buyer for a valuation near $1 billion but failed to secure one in the end.