BitMEX and BitMart Shut Down in the Same Week: What Fund Holders Should Do
In late July 2026, two well-known crypto exchanges announced closures back to back. On July 23, BitMEX announced it would shut down its platform on September 23, 2026, following a strategic review of the business. Three days later, on July 26, BitMart announced the start of an orderly wind-down of its trading platform. BitMart's native token, BMX, crashed roughly 58-66% within 24 hours of the announcement.
What's Happening at Each Exchange
BitMEX, operated by HDR Global Trading Limited, immediately stopped new account registrations. Starting August 26, the first restrictions take effect, new positions are blocked, and then existing open contracts get closed out. Full platform shutdown is set for September 23, 2026.
BitMart, starting at 01:30 UTC on July 26, the exchange stopped new user registrations, suspended deposits, and blocked new trading orders. Spot and futures trading fully stops at 01:00 UTC on August 26, with the platform's final shutdown planned for January 31, 2027.
Why Two Exchanges Closed at Once
Each company cites its own official reason, a strategic business review at BitMEX and a reassessment of market conditions at BitMart, but the timing overlap points to broader consolidation in the crypto exchange market. A similar trend is playing out in mining, mining pool Poolin recently filed for bankruptcy (see our Poolin bankruptcy breakdown), suggesting tightening conditions for mid-sized operators amid consolidation around a handful of large players.
What to Do If You Have Funds on BitMEX or BitMart
- Don't delay withdrawing funds, both exchanges have announced lengthy transition periods, but history has seen technical issues or a surge in withdrawal requests delay the process closer to the final deadline
- Close open positions early, rather than waiting for the exchange to forcibly close out contracts once deadlines pass
- Check your KYC status and withdrawal limits, to avoid delays from last-minute additional verification
- Choose a new platform in advance, not on the last day before closure, see our exchange and swap comparison section
If you also mine and want to check your hardware's profitability, use our mining profitability calculator.
Frequently Asked Questions
By when can I withdraw funds from BitMEX?
Full platform shutdown is set for September 23, 2026, but restrictions on new positions begin as early as August 26. It's recommended not to delay withdrawal until the final weeks.
Until when does BitMart operate?
Spot and futures trading stops on August 26, 2026 at 01:00 UTC, with the platform's final shutdown planned for January 31, 2027.
Are the BitMEX and BitMart closures related?
Officially, no, each company cites its own reason. However, the timing overlap points to a broader trend of consolidation in the crypto exchange market.