Cryptocurrency exchange BitMEX, a pioneer in digital derivatives trading, will permanently cease operations on September 23 at 04:00 UTC. Founded in 2014, it introduced 100x leveraged perpetual swaps, a product that became an industry standard across the entire sector. Despite a remarkable security record with no customer funds lost to hacks, the company faced US legal action in 2020 for violating anti-money laundering laws. Former CEO Arthur Hayes and other executives pleaded guilty to Bank Secrecy Act violations. Users must close their positions and withdraw their assets before the deadline, with increasing restrictions starting August 26.
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