BitMEX said it will move into a reduce-only risk restriction mode at 04:00 UTC on Aug. 26, limiting users to closing or cutting existing positions and blocking any new ones. In a separate notice, the exchange said all trading services are scheduled to stop permanently at 04:00 UTC on Sept. 23. BitMEX described the move as part of a voluntary and orderly wind-down process following a strategic review. The exchange also urged users to monitor open positions and review withdrawal procedures and deadlines during the transition period. The update was carried by Techub, which cited an official notice from BitMEX. The report also noted that BitMEX was once one of the most influential platforms in the crypto derivatives market.
BitMEX said it will enter a reduce-only risk restriction mode at 04:00 UTC on Aug. 26. Once that takes effect, users will only be able to close or reduce existing positions. Opening new positions will no longer be allowed.
According to the exchange’s official notice, all BitMEX trading services are scheduled to stop permanently at 04:00 UTC on Sept. 23. BitMEX said the decision is part of a voluntary and orderly business wind-down process carried out after a strategic review.
The Techub report said BitMEX was once one of the most influential platforms in the crypto derivatives market. The exchange advised users to pay close attention to existing positions during the transition period and to review withdrawal procedures and relevant deadlines to avoid unnecessary risk.
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