⚡️ Breaking: cryptocurrency exchange BitMEX announces it will cease operations on September 23

⚡️ Breaking: cryptocurrency exchange BitMEX announces it will cease operations on September 23

Despite receiving a presidential pardon from Donald Trump, which in the spring of 2025 relieved the exchange's founders of criminal liability, BitMEX has officially announced that it will cease operations. According to the company, the decision follows a strategic review of current market conditions.

➡️ Registration of new users has already been suspended.

➡️ Beginning August 26, customers will only be able to reduce existing open positions. Until the platform closes, remaining positions will be gradually, and where necessary, forcibly closed.

➡️ Users have been advised to withdraw their funds as soon as possible. After the shutdown, accounts will remain accessible only to view balances and transaction history.

➡️ Customers who fail to withdraw their assets will be charged either USD 50 or 1% annually of the remaining account balance, as applicable.

➡️ On its website, the exchange states: "To ensure the highest level of security, we will apply additional verification procedures to all withdrawal requests. In addition, withdrawal requests deemed high risk may be subject to network restrictions."

➡️➡️ Background: Founded in 2014, BitMEX was one of the first cryptocurrency exchanges to introduce perpetual futures contracts, gaining widespread popularity by offering leverage of up to 100x. In 2020, U.S. authorities charged its founders, Arthur Hayes and Ben Delo, alleging that the exchange had failed to implement adequate anti-money laundering (AML) controls and customer verification (KYC) procedures. The company was subsequently ordered to pay a USD 110 million civil penalty and later an additional USD 100 million fine for violations of the Bank Secrecy Act (BSA).

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