BitMEX allows customers in six previously barred jurisdictions to withdraw funds during shutdown
BitMEX has reopened withdrawal access for customers in six jurisdictions it once barred from trading, giving previously locked-out users in the United States, Canada, Hong Kong SAR, Bermuda, Seychelles and Myanmar a direct path to funds left on the platform. The move matters to institutional investors because it marks the final phase of an 11-year-old derivatives venue’s wind-down, part of a market in which crypto exchanges cleared $86.2 trillion in perpetual futures volume last year, according to a16z data.
- BitMEX lifted jurisdictional restrictions for six markets on September 24, 2025, a day after halting exchange operations at 04:00 UTC.
- The exchange pleaded guilty in 2024 to Bank Secrecy Act violations and paid a $100 million penalty tied to its regulatory record.
- Customers in Cuba, Iran, North Korea and Russian-occupied Ukrainian regions remain restricted, subject to compliance checks rather than open withdrawal.
- 6 jurisdictions granted fund recovery access, versus zero before the shutdown
- $100M penalty BitMEX paid in its 2024 Bank Secrecy Act settlement
- 11 years BitMEX operated before its September 2025 shutdown, dating to 2014
BitMEX said users in the United States, Canada, Hong Kong SAR, Bermuda, Seychelles and Myanmar can now log in, complete identity verification where required, and withdraw remaining funds, according to a report first published by CryptoSlate on Thursday, September 24, 2025. The exemption applies only to those six markets, which BitMEX had classified as restricted jurisdictions under its restricted jurisdiction policy before it ceased exchange operations a day earlier, at 04:00 UTC on September 23, 2025.
The carve-out exists solely to let former customers retrieve assets during the wind-down, not to resume trading in those markets.
BitMEX Reopens Six Markets It Had Blocked From Trading
Customers whose accounts were previously frozen on jurisdictional grounds can sign in with their existing credentials, pass know-your-customer checks, and submit withdrawal requests through the web platform. Those who still cannot access their accounts have been directed to contact BitMEX support directly.
Withdrawals remain subject to asset minimums and network fees, and BitMEX has warned users not to send new deposits to its addresses because it no longer credits incoming funds. Balances left on the exchange may begin attracting account charges as the wind-down progresses, giving remaining customers a financial incentive to withdraw rather than wait.
