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The cryptocurrency platform BitMEX, which has been operating since 2014, has officially informed its clients of the complete cessation of operations. This information was published on its website. The decision was made by the board of directors of HDR Global Trading Limited, the exchange's operator and owner. The rationale cited is a strategic review of the company's internal processes and an analysis of the current crypto market situation. This move follows extensive discussions and will be implemented in several stages.

First, new user registrations were suspended, meaning they will no longer be able to join the platform. A transition period has been set for existing traders: starting August 26, trading interface capabilities will be significantly limited. Clients will only be allowed to close existing positions, but opening new trades or increasing existing ones will be unavailable. This measure is intended to ensure a smooth exit for traders, avoiding sudden movements and market panic.

The last day for trading is September 23rd. By this date, all open positions not closed by users themselves will be subject to forced liquidation. Exchange management strongly advises clients not to delay withdrawals and to complete all transactions in advance. After trading concludes, access to personal accounts will remain limited. Users will be able to view their balance, transaction history, and withdraw remaining assets. Other functions, including trading and deposits, will be disabled.

Particular attention has been paid to the withdrawal conditions for those who fail to complete all transactions by the deadline. The exchange has set a fixed withdrawal fee of $50 per transaction. Alternatively, an annual fee of 1% of the account balance is offered if the client is inactive. The company also warns of possible transaction delays in its final days due to increased workload. Expedited withdrawals are not available, and any offers of such with an additional fee are fraudulent.

BitMEX holds a significant place in the history of cryptocurrency. In 2016, it launched the XBTUSD contract – the first widely known perpetual Bitcoin futures contract with leverage up to 100:1. This product attracted numerous traders worldwide and has long been a key instrument on the platform. According to the exchange itself, the total trading volume for this contract exceeded $3 trillion, highlighting BitMEX's influence on the development of the crypto derivatives segment.

The platform, once considered a leader in derivatives innovation, is losing ground to newer platforms better adapted to changing regulatory conditions.