BitMEX operator HDR Global Trading Limited announced the permanent closure of the exchange, effective Sept. 23, 2026.Key TakeawaysHDR Global Trading Limited will permanently close the BitMEX platform on Sept. 23, 2026.BitMEX leaves a lasting legacy after inventing the 100x perpetual swap that revolutionized crypto trading.Users must exit positions before Aug. 26, 2026, or face forced liquidations and a 1% monthly fee on BitMEX. Wind-Down Timeline and Operational Limits BitMEX, the pioneer of cryptocurrency derivatives trading that once dominated digital asset markets, announced Thursday, July 23, it will permanently close its exchange operations on Sept. 23, 2026. The announcement sparked widespread reaction across social media platforms, where the closure quickly became a trending topic on X. Industry traders and analysts reflected on the platform’s legacy while warning users to act quickly ahead of phased liquidation deadlines. The decision to shutter operations was made following a strategic review of the business and the evolving crypto landscape, according to exchange operator HDR Global Trading Limited. Effective immediately, the exchange has halted all new user account registrations. “When BitMEX started in 2014, our mission was simple: provide access to professional-grade crypto derivatives for everyone,” the company said in a statement. BitMEX gained renown as the inventor of the 100x leverage perpetual swap—a financial product that transformed crypto trading and was subsequently adopted across the industry. To ensure an orderly market exit, BitMEX outlined a strict timeline for users to settle positions and withdraw assets. Starting on Aug. 26, 2026, risk controls will take effect, restricting accounts to position reductions only and preventing users from opening new trades. The platform will also initiate forced liquidations on open positions to gradually wind down liquidity. On Sept. 23, 2026, all remaining open positions will be forcibly closed immediately.