BitMEX marks end of an era as it shut downs after 11 years, urges users to withdraw funds
Summary
BitMEX has ended exchange operations after 11 years. Trading, deposits and new positions are disabled, but customers can still log in and withdraw funds. The exchange says KYC-verified users who leave balances will face a monthly fee equivalent to an annualized 1% of assets, with a $50 minimum. Parent company HDR Global Trading announced the closure in July after a strategic review, amid reports BitMEX had lost ground in the perpetual futures market. The platform helped pioneer perpetual swaps, now a major crypto derivatives product.
