According to CoinMeta, BitMEX announced on September 23, 2026, at 04:00 UTC that all trading operations would be ceased, marking the end of a two-month liquidation period. Users can still log in and withdraw their funds, but deposits will no longer be accepted, and funds should not be sent to the BitMEX address. Users who complete KYC identity verification will face an annual account fee of 1% or $50, which is charged monthly. BitMEX warned users about phishing scams and assured them of the safety of their funds. The exchange was established in 2014 and once offered perpetual contracts with 100x leverage, claiming to be the product with the highest trading volume in the crypto market.