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Cointelegraph

BitMEX faces Celsius lawsuit ahead of exchange closure

The Celsius estate alleges BitMEX wrongfully liquidated and seized 6,360 BTC, worth nearly $490 million, during the March 2020 market crash.The Celsius bankruptcy estate sued five BitMEX-linked companies, alleging fraud, market manipulation and wrongful liquidations during the March 2020 market crash. The complaint was filed on Sept. 12 in the US Bankruptcy Court for the Southern District of New…

Photo: Cointelegraph

The Celsius estate alleges BitMEX wrongfully liquidated and seized 6,360 BTC, worth nearly $490 million, during the March 2020 market crash.The Celsius bankruptcy estate sued five BitMEX-linked companies, alleging fraud, market manipulation and wrongful liquidations during the March 2020 market crash. 

The complaint was filed on Sept. 12 in the US Bankruptcy Court for the Southern District of New York by Celsius entities acting through estate representative Blockchain Recovery Investment Consortium (BRIC). Defendants include HDR Global Trading, ABS Global Trading, Shine Effort, 100x Holdings and HDR Global Services.

The estate alleged that BitMEX wrongfully liquidated and seized 1,325.84 BTC in collateral from Celsius on March 12, 2020, and 5,034.33 BTC from investment fund JST the following day. JST subsequently assigned the related claims to the estate, according to the filing.

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Originally published by Cointelegraph. Read the full story at the source →

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