BitMEX and its co-founders, including Arthur Hayes, were sued in a proposed class action accusing the exchange of keeping customer collateral seized in liquidations and running an internal trading desk with access to confidential position data. The complaint was filed July 23 in the Southern District of New York — the same day BitMEX said it will shut down after 11 years.

The platform, co-founded by Arthur Hayes, has notified users they have until Sept. 23 to withdraw their assets or face penalty charges.

BitMEX, co-founded by Arthur Hayes, will shut down on Sept. 23, 2026, at 04:00 UTC after owner HDR Global Trading's strategic review.