Markets

BitMEX Crypto Exchange Shuts Down Operations

September 23, 2026, 5:31 PM UTC (9 days ago) · 1 source · Summarized by CryptoBipto — how we make this

BitMEX, the cryptocurrency derivatives exchange known for pioneering 100x leverage trading, has ceased operations. Users have been advised on steps to withdraw remaining funds and close positions.

WHY IT MATTERS

BitMEX was one of the first platforms to let traders use very high leverage in crypto, meaning they could control a large position with a small amount of money. Think of leverage like a magnifying glass for your trades: it can amplify gains but also amplify losses. BitMEX made this concept mainstream in crypto. Its closure is significant because it shows how even pioneering platforms can be affected by legal issues, competition, or changing market conditions. For anyone new to crypto, this is a reminder that exchanges are businesses that can shut down, and keeping funds on any exchange carries risk. Many experienced users recommend withdrawing crypto to personal wallets rather than leaving it on a platform long-term.

BitMEX was founded in 2014 and became one of the most influential crypto exchanges by introducing perpetual swap contracts and offering leverage of up to 100 times a trader's initial deposit.

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