BitMEX is facing a new proposed class action in the U.S. as the crypto derivatives exchange prepares to shut down its trading platform.

The complaint, reported by CoinDesk, was filed by former tokenization project BKX Services and David Namdar in the U.S. District Court for the Southern District of New York. The plaintiffs allege losses totaling 622.66 BTC from forced liquidations and claim BitMEX retained collateral that should have been returned to customers. The suit names parent company HDR Global Trading, affiliates and co-founders Arthur Hayes, Ben Delo and Samuel Reed as defendants.

The allegations are still unproven. CoinDesk reported that the plaintiffs are seeking to represent U.S. customers who bought BitMEX bitcoin swap products from July 23, 2018, and that the case would need a judge's approval to proceed as a class action. The story also says similar claims appeared in a 2020 case that closed in June 2025 without a ruling on the liquidation allegations.

Separately, BitMEX has told users that the exchange will close on September 23, 2026 at 04:00 UTC. Its official notice says customer funds are safe, while recommending that users close open positions and withdraw assets before the closure time.

The overlap of a shutdown plan and renewed litigation puts a final chapter around one of crypto's most influential derivatives venues. BitMEX popularized the perpetual swap structure, but its closing phase is now centered on user withdrawals, unresolved legal claims and questions about how leveraged crypto markets handled liquidations in their earlier era.