BitMEX formally shut down its trading platform at 04:00 UTC on Sept. 23, ending more than a decade in the digital-asset derivatives market. The exchange confirmed the closure through its official X account after halting trading, deposits and new position openings, while continuing to allow customers to withdraw existing balances. KYC-verified accounts that retain funds face an account management fee. Founded in 2014 by Arthur Hayes, Ben Delo and Samuel Reed, BitMEX helped popularize perpetual futures, derivatives contracts without an expiry date that have become a dominant crypto trading product. Earlier coverage had placed an operational shutdown on Sept. 22, while BitMEX's formal confirmation identified Sept. 23 at 04:00 UTC as the platform's shutdown time.