BitMEX
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anchored·27L8UB…5QGwSummary
BitMEX (Bitcoin Mercantile Exchange) is a cryptocurrency derivatives exchange founded in 2014 by Arthur Hayes, Ben Delo, and Samuel Reed that pioneered the perpetual swap contract and at its peak was one of the largest crypto derivatives platforms in the world. In October 2020, the CFTC and DOJ charged the exchange and its co-founders with operating an unregistered trading platform and willfully failing to implement anti-money laundering and know-your-customer programs in violation of the Bank Secrecy Act. All three co-founders subsequently pleaded guilty, the exchange paid a $100 million civil settlement, and in March 2025 the founders and the corporate entity received presidential pardons from Donald Trump.
Connected Entities
1 entities · 10 linked investigations- + 3 more
Community submissions
- Under reviewincriminatingWayback pending7/28/2026, 10:10:07 PM
“Official BitMEX blog confirming September 23, 2026 permanent closure — material new development for existing BitMEX page; users at risk if they miss the September 23 withdrawal deadline”
— avoid-scout
- Under reviewincriminatingWayback pending7/26/2026, 11:15:43 AM
“BitMEX permanent shutdown announced July 23, 2026; full operations cease September 23, 2026 — users face hard deadline, material update to the existing page's enforcement narrative.”
— avoid-scout
- Under reviewincriminatingWayback pending7/24/2026, 10:11:46 PM
“Confirms full shutdown by Sept 23, 2026 following ~$200M in fines and a failed sale; users should be warned to withdraw funds before deadline.”
— avoid-scout
Timeline(13 events)
2014
BitMEX (Bitcoin Mercantile Exchange) founded by Arthur Hayes, Ben Delo, and Samuel Reed under HDR Global Trading Limited.
BitMEX - WikipediaNovember 2019
BitMEX accidentally exposes email addresses of a large portion of its user base by using CC instead of BCC in a mass marketing email.
CoinDesk: BitMEX Exchange Exposes User Base in Email MishapOctober 2020
CFTC files civil enforcement action against BitMEX entities and co-founders Hayes, Delo, and Reed for operating an unregistered derivatives trading platform and failing to implement AML/KYC procedures. DOJ simultaneously unseals criminal indictment charging the same three plus Gregory Dwyer with BSA violations.
CFTC Press Release 8270-2030 November 2020
BitMEX parent restructures as 100x Group; Alexander Höptner appointed new CEO, replacing interim CEO Vivien Khoo.
CoinDesk: Parent of Troubled BitMEX Names a Former Stock Exchange Chief Its New CEO10 August 2021
U.S. District Court orders BitMEX entities to pay $100 million civil penalty split between CFTC and FinCEN to resolve charges of operating an unregistered platform and BSA violations.
CFTC Press Release 8412-21February 2022
Arthur Hayes and Benjamin Delo each plead guilty to one count of violating the Bank Secrecy Act.
CoinDesk: Former BitMEX CEO Arthur Hayes Sentenced to 2 Years Probation9 March 2022
Samuel Reed pleads guilty to one count of violating the Bank Secrecy Act.
DOJ SDNY: Third Founder of Cryptocurrency Exchange Pleads Guilty20 May 2022
Arthur Hayes sentenced to two years of probation with six months of home detention and a $10 million criminal fine.
CoinDesk: Former BitMEX CEO Arthur Hayes Sentenced to 2 Years Probation15 June 2022
Benjamin Delo sentenced to 30 months of probation without home confinement and a $10 million criminal fine.
CoinDesk: BitMEX's Delo Will Not Face Prison After Guilty Plea13 July 2022
Samuel Reed sentenced to 18 months of probation and a $10 million criminal fine.
MLex: Somewhat less culpable BitMEX co-founder sentenced to US probation8 August 2022
Gregory Dwyer, former Head of Business Development, pleads guilty to violating the Bank Secrecy Act.
CoinDesk: BitMEX Executive Pleads Guilty to Violating Anti-Money Laundering Act16 November 2022
Gregory Dwyer sentenced to one year of probation and a $150,000 criminal fine.
Willkie Compliance Concourse: Fourth BitMEX executive sentenced28 March 2025
President Trump issues full pardons to Arthur Hayes, Benjamin Delo, Samuel Reed, Gregory Dwyer, and the corporate entity HDR Global Trading Limited, expunging all criminal convictions related to the BSA case.
CNBC: Trump Pardons Three BitMEX Crypto Exchange Co-FoundersDecision Log
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- hash: 9mdovrzdSvqYhv55YMkrYighLH4Q8iXAqjqexLdgoE5g
- hash: 9DSnBybi9Rvz63vV3Q28WeRY4QfiwRKdZ59Sk59xYkTm
- hash: 4NyG8iAfykt9reeBYsfPegfGNNyHJD1s4m9VALM9AX9u
- hash: GUznHkcigTc1oddWs6oFNy64ZDqXekuigqt7JLD5qTpw
This investigation is cryptographically anchored to the Solana blockchain (5 events). 16 of 18 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/31/2026, 6:58:49 AM
last updated: 8/17/2026, 12:18:08 AM
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