Crypto Exchange That Invented 100x Leverage Is No More: Here’s What BitMEX Users Need to Know
60-second summary
BitMEX halts trading at 04:00 UTC Wednesday, urging users to withdraw remaining balances because the platform now charges fees on idle funds. The shutdown follows regulatory pressure on its 100× leverage model, leaving traders to scramble for asset recovery. This exit reduces high‑risk margin products, prompting market participants to seek safer, regulated exchanges.
BitMEX ended trading at 04:00 UTC Wednesday and is urging users to withdraw their remaining funds, as fees now apply to balances left on the exchange.