BitMEX Receives 623 BTC Lawsuit Filing the Day It Announces Shutdown
BitMEX faces a new U.S. class action alleging fraudulent liquidations that cost users 623 BTC, filed the same day the exchange announced its shutdown.Summary
A U.S. District Court filing accuses BitMEX operator HDR Global Trading of fraudulently arranging liquidations that left users with a combined loss of 622.66 BTC, with plaintiffs BKX Services Inc. and David Namdar claiming 305.81 BTC and 316.85 BTC respectively. The complaint alleges that BitMEX’s automated liquidation system was designed to profit from forced liquidations, allowing an internal desk to trade during server freezes while ordinary users could not manage positions, and that remaining collateral was diverted to the exchange’s insurance fund. The suit seeks the return of the withheld Bitcoin and compensatory and punitive damages, and follows a 2020 class action that was dismissed without prejudice in June 2025. The lawsuit was filed on the same day BitMEX announced it would shut down operations on September 23, adding urgency to the dispute as the platform winds down and users await potential recovery.
(Source：Crypto Breaking News)