Bitmex Crypto Exchange Closes; Funds Left Behind Face New Account Fees

by Kevin Helms September 23, 2026 14 min read

(Originally posted on : Bitcoin News )

Key Takeaways

Bitmex Trading Ends, but Withdrawals Remain Open

Users with funds on Bitmex can still access their accounts and request withdrawals after the crypto derivatives exchange ended operations at 12:00 a.m. EDT on Sept. 23. In its closure update, Bitmex urged users to withdraw their remaining balances as soon as possible. Deposits are no longer credited, and the company warned users against sending more funds to its addresses.

The exchange confirmed the shutdown in a Sept. 23 post on X, stating, “Your funds remain completely safe.” Login and withdrawals remain available through its web platform, while trading has ended. Users should check the email address associated with their accounts for withdrawal instructions and operational updates, the company added.

The closure follows a wind-down that began with Bitmex’s July 23 announcement. Owner and operator HDR Global Trading Limited stopped new registrations that day, then restricted traders from opening positions starting Aug. 26. Bitmex said it would force-close positions during the wind-down and immediately close any still open at the shutdown time.

How the New Account Fee Works

Balances left on the exchange after the closure are subject to an account fee for users who completed identity verification. Under the terms in Bitmex’s Sept. 23 post, the fee is $50 equivalent or 1% per year, whichever is greater, charged monthly. The 1% figure is an annual rate, even though billing occurs each month.

Bitmex’s July notice described the $50 equivalent charge as applying to accounts holding no more than that amount, and said the fee would increase over time if balances are not withdrawn, with increases communicated in advance. The company has urged users with withdrawable balances to remove them.

Withdrawal access may involve further checks during the shutdown. Bitmex said it is rolling out identity verification updates, cooldown periods, and a simplified website experience in stages. It also warned that additional reviews, heavy withdrawal demand, and blockchain confirmation times could delay processing. A withdrawal marked “Processing” remains queued for submission to the blockchain, according to the exchange.

Users moving bitcoin from an exchange to a wallet take responsibility for the destination address and, with a self-custodial wallet, its private keys. Bitmex has also warned about phishing attempts that promise faster withdrawals. The company stated in July that it offers no priority or expedited withdrawal service.

Closure Ends More Than a Decade of Trading

Bitmex launched in 2014 and became closely associated with crypto perpetual swaps, or derivatives contracts that have no expiration date. Its July shutdown timeline traced the restrictions placed on trading before the Sept. 23 closure. The distinction for account holders now is direct: exchange services have ended, while access to withdraw remaining assets continues.

The perpetual swap pioneered by Bitmex spread to competing trading platforms over the exchange’s operating life. Bitmex’s closure ends its role as a trading venue, but its July notice said users would retain access to balances and historical transaction information while withdrawing funds.

Before the closure decision, then Bitmex Group CEO Stephan Lutz discussed competition among derivatives venues and the importance of liquidity to traders. Bitmex attributed its decision to shut down to a strategic review of its business and the broader crypto industry. Its remaining operation is focused on accounts and withdrawals.