BitMEX shutdown gives traders 2 months to withdraw, but active positions face an earlier deadline

BitMEX, the Seychelles-based crypto exchange founded by Arthur Hayes, announced on July 23 that it will shut down at 04:00 UTC on Sept. 23. Customers now have two months to close positions and withdraw funds, and new registrations have already stopped.The effective trading deadline arrives sooner. Under BitMEX's wind-down timetable, risk limits take effect at 04:00 UTC on Aug. 26, after which users will only be able to reduce positions.BitMEX may force-close contracts during the wind-down and will immediately close anything still open at the Sept. 23 cutoff. The notice describes no position-transfer mechanism, so any exposure opened elsewhere would be a separate trade.Customers who miss the closure time will still be able to log in to view balances and records and request withdrawals. However, KYC-verified accounts retaining assets will face a fee charged monthly at the greater of $50 equivalent or 1% per year on the remaining balance.BitMEX also warned that additional reviews and blockchain constraints could delay withdrawals and said there is no priority service for moving funds.Where BitMEX flow may moveNo public data currently tracks where BitMEX customers are moving, so possib...