BitMEX Exchange Closure September 2026
Summary
On July 23, 2026, HDR Global Trading Limited announced the permanent closure of BitMEX, the cryptocurrency derivatives exchange it operates, effective September 23, 2026 at 04:00 UTC. The shutdown follows a failed sale process launched in early 2025 and more than $200 million in cumulative U.S. regulatory penalties spanning civil and criminal proceedings. Users who do not withdraw funds before the closure deadline face ongoing monthly balance fees, and the exchange has flagged an active phishing risk tied to the announcement.
Connected Entities
1 entities · 10 linked investigations- + 1 more
Timeline(11 events)
2014-01-01
BitMEX founded by Arthur Hayes, Benjamin Delo, and Samuel Reed. HDR Global Trading Limited incorporated as parent entity.
CoinDesk2020-10-01
U.S. Department of Justice (SDNY) and CFTC file criminal and civil charges against BitMEX and founders for operating an unregistered exchange and Bank Secrecy Act violations. Founders resign from executive roles.
DOJ SDNY Press Release2021-08-10
FinCEN and CFTC announce combined $100 million civil settlement with BitMEX. FinCEN documents $209M in transactions with darknet markets and 588 unfiled Suspicious Activity Reports.
FinCEN Press Release2022-02-24
Co-founders Arthur Hayes and Benjamin Delo plead guilty to Bank Secrecy Act violations in federal court, each agreeing to pay $10 million criminal fine.
CoinDesk2022-05-05
CFTC obtains court order requiring the three co-founders to pay a combined $30 million civil monetary penalty.
CFTC Press Release2025-01-15
U.S. District Judge John Koeltl sentences HDR Global Trading Limited to two years of probation and an additional $100 million criminal fine, bringing total institutional penalties to approximately $210 million.
Bloomberg2025-02-27
BitMEX confirms it has engaged investment bank Broadhaven Capital Partners to facilitate a potential sale of the exchange, with reported valuation aspirations near $1 billion.
CoinDesk2025-03-28
President Trump grants full and unconditional pardons to co-founders Arthur Hayes, Benjamin Delo, and Samuel Reed for their Bank Secrecy Act convictions.
CoinDesk2026-07-23
HDR Global Trading Limited announces permanent closure of BitMEX effective September 23, 2026 at 04:00 UTC. New account registrations halted immediately. BMEX token collapses approximately 90–92% within hours.
BitMEX Official Blog2026-08-26
Reduce-only period begins at 04:00 UTC. Users may no longer open new positions; existing positions may only be reduced or closed.
BitMEX Official Blog2026-09-23
Final closure at 04:00 UTC. All remaining open positions force-settled. Monthly balance fees begin accruing for users who have not withdrawn funds.
BitMEX Official BlogDecision Log
- #1publish⛓ pending7/31/2026, 11:16:54 PMhash: CJrzys5Xzzgq2zqqWb6xo6FHSPBxCJwGhN6dwAveFXTV
17 of 19 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 7/31/2026, 11:16:49 PM
last updated: 8/1/2026, 3:22:35 AM
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