Exchange Shutdowns Bring Hidden Fees to Crypto Holders

When a crypto exchange closes, trading stops but accounts remain active, and that's where the issue lies. The residual balance after an exchange closure is now costing users money due to monthly fees imposed by providers like BitMEX and BitMart.

At BitMEX, the fee rule states that users who have not withdrawn their assets by the closing date will be charged a monthly account fee of $50 equivalent or 1% per annum, whichever is greater. This means that small balances are hit hardest, as amounts below $50 would incur a higher percentage-based fee.

For instance, leaving behind 400 euros would cost around $50 a month, eating away at the balance in less than a year. In contrast, larger holdings would see their fees calculated as a percentage of the balance, making it more expensive for smaller amounts.

The same issue is affecting other exchanges like BitMart and Kraken, with varying rules and deadlines. At Kraken, 21 delisted assets are set to be liquidated between September 1 and 5, 2026, while at BitMart, a custody fee of one to two percent applies to inactive accounts for more than two years.