BitMEX shutdown gives traders 2 months to withdraw, but active positions face an earlier deadline
BitMEX will shut down at 04:00 UTC on Sept. 23, with new registrations already stopped. Customers have until then to close positions and withdraw funds, but risk limits begin at 04:00 UTC on Aug. 26, after which only position reductions will be allowed. Open contracts may be force-closed during the wind-down and any remaining positions will be closed at the final cutoff. Accounts left with assets after closure can still log in and withdraw, but KYC-verified balances will incur a monthly fee of the greater of $50 equivalent or 1% per year. Withdrawal delays may occur due to reviews or blockchain issues. No public data shows where traders will move, but liquidity and market depth point mainly to Binance Futures as the likeliest destination, with OKX, Bybit, MEXC, Gate, Bitget, and possibly Hyperliquid also plausible. BitMEX’s trading volume and open interest are far smaller than Binance’s, so the overall market impact should be limited.
