Celsius sues BitMEX for $495 million just 11 days before exchange shutdown

Celsius sues BitMEX for $495 million just 11 days before exchange shutdown

Celsius Network’s bankruptcy estate has sued BitMEX over a 2020 liquidation cascade it says cost more than 6,360 Bitcoin. The complaint, filed Sept. 12 in the US Bankruptcy Court for the Southern District of New York, accuses entities behind the crypto derivatives exchange of fraud, market manipulation and wrongful liquidations during Bitcoin’s historic March 2020 […]

CryptoSlate•Oluwapelumi Adejumo

Celsius sues BitMEX for $495M 11 days before the exchange shuts down permanently

Celsius' lawsuit against BitMEX could set a precedent for challenging exchange liquidation practices, impacting future crypto market regulations.

CryptoBriefing•Editorial Team

Celsius sues BitMEX for $495 million over 2020 crash liquidations

CoinDesk•Oliver Knight

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.

Cointelegraph•Cointelegraph by Ezra Reguerra