BitMEX Shuts Down Trading Operations Amid Ongoing Phaseout Process
BitMEX, the crypto derivatives exchange, has ended all trading operations as of 4:00 UTC on Wednesday. This marks a significant milestone in its gradual phaseout, which began with an announcement of closure two months prior. Users can still log in and withdraw their remaining balances through the BitMEX website.
BitMEX will disable API withdrawals on September 28, requiring users to process withdrawals through the web platform instead. The company has assured customers that their funds remain secure and urged them to withdraw any remaining balances promptly. This move comes as part of its strategic review of the business and broader crypto industry, which led to the decision to close the exchange.
The closure was initially announced on July 23, with services set to cease on September 23. However, this date has been pushed back due to the ongoing phaseout process. BitMEX emphasized that its shutdown is not linked to any regulatory or legal issues and that user funds are secure.