BitMEX users have less than a year to withdraw their funds and close positions before the exchange stops operating. The platform will officially shut down trading on September 23, 2026, at 04:00 UTC, marking a firm end to all activities.
Steps to Prepare for Closure
The exchange began its shutdown process immediately after announcing the closure on July 23, 2026. New account registrations have been disabled, and from August 26, 2026, at 04:00 UTC, traders can only reduce existing positions no new positions will be allowed. At the final cutoff, any remaining open trades will be force-closed. BitMEX also warned that positions might be closed ahead of time to manage risk and ensure an orderly exit strategy.
This wind-down comes amid a sharp decline in activity: at the announcement, daily volumes on BitMEX hovered around $400,000, capturing less than 0.01% of market share according to Reuters, citing Kaiko data. The low liquidity raises concerns that attempts to exit in the final days could face execution challenges if many traders try to close simultaneously.
For users looking to withdraw funds safely, the exchange recommends first reducing or closing open positions before moving assets. It’s important to verify account details, such as email, password, two-factor authentication, and KYC status, as support demand tends to spike during shutdowns, causing delays. Confirming the destination wallet’s network and conducting a small test withdrawal can prevent costly mistakes.
KYC-verified accounts that fail to withdraw funds by the deadline will incur a monthly fee of $50 or 1% annually on remaining balances, whichever is higher. This penalty encourages users to act promptly and clear their holdings before the exchange locks them in.
