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      BitMEX Ceases Trading and Deposits After 11 Years of Operation

      BitMEX, a cryptocurrency derivatives platform, has officially halted trading and deposits, allowing only withdrawals for its users. The announcement was made via the social media platform X, stating that as of September 20, 2026, at 04:00 UTC, trading services and the ability to open new positions will no longer be available. Users can still log in to the platform to withdraw their remaining balances, but deposits have been disabled.

      Founded in 2014 by Arthur Hayes, Ben Delo, and Samuel Reed, BitMEX was instrumental in popularizing perpetual contracts in the cryptocurrency derivatives market. The decision to cease operations follows a strategic review by its parent company, HDR Global Trading, amid a decline in the platform's market share. BitMEX had previously announced its closure in July 2026, citing unfavorable market conditions.

      Customers are encouraged to withdraw their funds promptly, as account fees will apply to those with balances who have completed the Know Your Customer (KYC) process. These fees will be charged monthly at a rate of 1% annualized on assets or a minimum of $50, whichever is higher. Despite the shutdown, BitMEX assures users that their assets are not frozen and that the withdrawal channel remains operational during the liquidation process.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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