BitMEX Faces Class-Action Lawsuit on Shutdown Day; Users Allege 623 BTC Theft via Liquidation Manipulation

BTC-2.25%
According to ChainCatcher, on July 25, BKX Services Inc. and David Namdar filed a class-action lawsuit in U.S. District Court for the Southern District of New York alleging BitMEX manipulated liquidations and stole approximately 623 BTC in collateral. BKX reported losses of at least 305.81 BTC, while Namdar lost over 316.85 BTC. The plaintiffs claim BitMEX allowed up to 100x leverage but forced liquidations when collateral was still worth roughly double the losses, with remaining Bitcoin funneled into the platform's insurance fund. The lawsuit covers trading activity from July 23, 2018 onward.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments