BitMEX, the exchange that pioneered the crypto perpetual swap, will cease all operations on September 23, 2026, following a strategic review by parent HDR Global Trading.

New sign-ups are already closed. From August 26, users can only reduce positions, and anything still open at shutdown will be force-liquidated. KYC-verified users must withdraw beforehand or face a monthly account fee of $50 or 1% of the balance.

Launched in 2014 and built around Bitcoin, BitMEX defined an era of crypto leverage before a 2021 US settlement and years of fading volume. Its shutdown closes one of the industry’s original venues for good.