BitMEX shuts down after 11 years and urges users to withdraw funds

BitMEX shut down exchange operations after an 11-year run, except for withdrawals. The company announced the closure in July after a strategic review. BitMEX had lost ground in the derivatives market it helped create. Trading, deposits and new positions became unavailable at 04:00 UTC on Tuesday. Users can still log in through the website and withdraw their balances. BitMEX said fees apply to KYC-verified users who leave balances on the exchange. The monthly fee is based on an annualized 1% of assets. A $50 equivalent minimum applies when it is greater.