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BitMEX is facing a US class-action alleging its internal trading operations and liquidation engine rigged forced liquidations to seize customer BTC, with plaintiffs claiming about 622.66 BTC were lost and excess BTC went to the insurance fund. The suit comes as BitMEX prepares to wind down in September 2026 and seeks return of the BTC plus damages for US customers dating back to 2018.
BitMEX will permanently shut down on September 23, 2026, halting new sign-ups and ending trading, with a phased wind-down beginning August 26 that restricts new positions and eventually force-closes remaining ones while allowing withdrawals. The platform, which pioneered the perpetual swap, faced regulatory actions and a rocky later period, leading to the decision to close after more than a decade in operation.
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