Overview
- BitMart, which began its wind‑down on Sunday, July 26, 2026, stopped new registrations, deposits and new orders, put futures into reduce‑only and will halt all trading on August 26 with full platform decommissioning on January 31, 2027.
- BitMEX, which announced its decision on July 23, 2026, will cease operations on September 23 and barred new positions after August 26, and the company has urged customers to withdraw funds before its cutoffs.
- Both platforms say withdrawals remain open but warned that identity checks, source‑of‑funds reviews, Travel Rule compliance and sanctions screening could slow processing as users rush to exit.
- Platform tokens plunged after the notices, with BMX and BMEX dropping roughly 55–90% as concentrated liquidity on those exchanges evaporated and withdrawal pressure spiked trading volumes.
- The closures reflect longer trends that include BitMart’s 2021 hot‑wallet breach and BitMEX’s regulatory history, narrowing market share for mid‑tier venues and increasing the urgency for users to complete KYC, close positions and request withdrawals promptly.