Update on Customer Bitcoin Deposit Addresses

Back in October 2023, we shared that we will be reissuing all customers’ Bitcoin deposit addresses in order to improve our use of Bitcoin block space. In the months following the announcement, all BitMEX accounts were issued with new pay-to-witness publish key hash (P2WPKH) Bech32 format addresses (also known as “bc1 addresses”), without our historical “vanity” address prefix (3BMEX, bc1qmex). 

Despite these notifications and the issue of new addresses to all accounts, we have noticed that some customers are continuing to deposit Bitcoin to their legacy wallets. This makes it difficult for us to fully execute on our promise to optimise our use of Bitcoin block space. 

After over a year of friendly transition, we are now forced to push customers off these legacy addresses. Please note that from 31 March 2025 we will no longer actively credit Bitcoin deposits to these addresses as they arrive. 

We urge customers to update their address books and whitelist addresses on other venues. If this has not been completed to date, please do so by 30 March 2025. More details can be found under ‘User Action Required’ in this article. 

All deposits made to legacy addresses will only be credited based on a minimum two-week review cycle (driven by the level of deposits), meaning that funds sent to your account via a legacy address may not be credited to your trading account for up to 2 weeks (at best and potentially longer). 

Please note that BitMEX will not assume any liability or loss incurred by funds sent to legacy addresses. 

We remind our users that funds that are not credited to their account will not be available for trading or margin and may result in liquidation of existing positions. 

We hope that our users can help us execute on our promise to optimise our use of Bitcoin block space, for the benefit to our users and the wider Bitcoin ecosystem.

To be the first to know about our new promotions, giveaways, listings, and product launches, you can visit https://www.bitmex.com/ or connect with us on Discord, Telegram, and Twitter. We encourage you to also check our blog regularly. 

In the meantime, if you have any questions please contact Support. 

The post Update on Customer Bitcoin Deposit Addresses appeared first on BitMEX Blog.