Categories: Technology

New lawsuit filed against BitMEX cryptocurrency exchange

The U.S. District Courtroom for the Northern District of California has filed a lawsuit against the BitMEX cryptocurrency derivatives exchange and its co-founders Arthur Hayes, Ben Delo and Samuel Reed. Among the many accusations: the manipulation of the cryptocurrency market and costs.

Supply: Lawyer Pavel Pogodin, representing the plaintiff

The plaintiff, BMA LLC, additionally accused the defendants of fraud, dishonest enterprise practices and racketeering.

In December, early traders sued BitMEX, claiming that the exchange and its CEO Arthur Hayes tricked them into failing to offer a stake within the firm.

On the final, they clarified their necessities for BitMEX, rising the scale of claims to $ 540 million.

Recall that over the previous six months, BitMEX has misplaced roughly half of its market share. Severe disruptions to the platform through the collapse of the cryptocurrency market on March 13 contributed to this.

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New lawsuit filed against BitMEX cryptocurrency exchange was last modified: May 17th, 2020 by Sam Conley
Sam Conley

Sam Conley is new to online journalism but she is keen to learn. She is an MBA from a reputed university. She brings together relevant news pieces from various industries. She loves to share quick news updates. She is always in search of interesting news so that she can share them as well to Sunriseread's readers who could enjoy them with their morning coffee.

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