BitMEX ceases trading and deposits after 11 years of operation

BitMEX has officially halted trading, deposits, and the opening of new positions, leaving only withdrawal functionality active. As of Tuesday at 04:00 UTC, users can no longer deposit funds but may still log in to withdraw their balances. The platform, founded in 2014 by Arthur Hayes, Ben Delo, and Samuel Reed, was instrumental in popularizing perpetual futures. BitMEX has urged users to withdraw funds promptly, noting that it will begin charging a monthly fee on remaining balances for KYC-verified accounts, calculated at an annualized rate of 1% or a minimum of $50, whichever is higher. The exchange announced its closure in July following a strategic review by parent company HDR Global Trading amid declining market share.