Overview
- BitMEX announced the shutdown on Thursday, July 23, and set a final closure time of 04:00 UTC on September 23, 2026.
- New account registrations were halted immediately and the exchange will bar new positions starting August 26 while progressively force‑closing open contracts ahead of the shutdown.
- The company says customer assets are fully backed and pointed to its proof‑of‑reserves page, but it warned of possible blockchain delays for withdrawals and notified users of maintenance fees for unclaimed balances after closure.
- Hours after the announcement a class‑action suit was filed in the U.S. District Court for the Southern District of New York alleging some users lost 622.66 BTC and accusing the platform and founders of insider trading and improper retention of collateral.
- The native BMEX token collapsed about 90% on the announcement and recent delistings plus near‑zero daily volumes reflect a long decline as larger centralized and decentralized venues captured liquidity.