BitMEX Ceases Operations, Withdrawals Available Until September
- BitMEX ended all exchange operations at 4:00 UTC on Wednesday, following a closure announcement made on July 23.
- Users can still withdraw remaining balances through the website until API withdrawals are disabled on September 28.
- The exchange operated for over 11 years and was known for popularizing perpetual swaps with leverage up to 100 times.
- The decision to close was made after a strategic review and is not linked to legal issues, according to its operator HDR Global Trading Limited.
- This closure follows a lawsuit from the Celsius bankruptcy estate against five BitMEX-linked companies, alleging fraud related to 6,360 Bitcoin during the March market crash.
BitMEX’s shutdown marks the end of an era for one of the major players in crypto derivatives trading, allowing users to secure their funds before API withdrawal capabilities are removed later this month.
As of now, users are encouraged to withdraw their funds promptly as BitMEX has assured that all user funds remain secure during this transition period. (Source)
