"BitMEX to shutter after 11 yrs" Jul 23, 2026

BitMEX will permanently close on September 23rd 2026, ending an 11-year run for the exchange that helped popularize crypto perpetual swaps and 100x leverage. Owner HDR Global Trading made the decision following a strategic review and a failed sale process that began in February 2025. New registrations were halted immediately, users will be restricted to reduce-only trading from August 26th, and all remaining positions will be force-closed at or before shutdown. Verified users who leave funds on the platform after closure will be charged monthly fees equal to the greater of 50 dollars or 1 percent annually.

The Varus Ethereum bridge was exploited for a second time in roughly two months, with an attacker draining approximately 7.5 million dollars by abusing the same vulnerability class and import path used in the May 18th breach. The first exploit drained around 11 million dollars, though that attacker later returned 4,052 ETH after keeping a 25 percent white hat bounty. The second attacker converted stolen assets into nearly 4,000 ETH and deposited the proceeds into Tornado Cash, suggesting no intention of negotiating a return.

Arbitrum-based protocol AFX Trade was exploited for roughly 24 million dollars in USDC through its own bridge, not Arbitrum's native bridge. The attacker moved the stolen funds from Arbitrum to Ethereum and swapped them for 12,467 ETH worth approximately 24 million dollars. AFX suspended bridge operations, stated that its trading infrastructure and the broader Arbitrum network were unaffected, and offered the attacker a white hat settlement allowing them to keep 30 percent of the funds in exchange for returning the remaining 70 percent within a limited window.

Miree Asset completed its acquisition of South Korea's fourth-largest crypto exchange by volume, Corbit, becoming its largest shareholder with a 92 percent stake after securing regulatory approval. The South Korean Fair Trade Commission described the deal as the country's first acquisition of a crypto exchange by an affiliate of a traditional financial group. Miree Asset plans to spend an additional 5 million dollars to raise its ownership stake in Corbit to 97 percent.

The SEC settled Coinbase's Freedom of Information Act lawsuit related to the agency's crypto policies under former chair Gary Gensler, agreeing to pay Coinbase consultant History Associates 150,000 dollars in legal fees. Coinbase had sued both the SEC and FDIC in 2024, accusing them of withholding records and working to restrict crypto companies' access to banking services. Paul Gruel said the settlements should improve agency transparency and records retention practices while making future regulatory overreach more difficult.

The Smarter Web Company sold 177 bitcoin to repay an 11 million dollar convertible instrument from Tobam approximately two weeks ahead of schedule. CEO Andrew Webley said fiat and bitcoin-denominated convertibles are no longer the right funding option for the company. Smarter Web began its Bitcoin treasury strategy in April 2025 and has spent roughly 311 million dollars building its holdings.