The complaint claims BitMEX designed a system to retain customer collateral and alleges an internal desk accessed private user data during server freezes.
- BitMEX is facing a proposed class-action lawsuit from BKX Services and David Namdar, who allege unfair liquidations and the withholding of collateral.
- The complaint, which cites 622.66 BTC ($40.7 million) allegedly owed to the plaintiffs, says BitMEX designed a system to retain customer collateral and says an internal desk accessed private user data during server freezes.
- The lawsuit coincides with BitMEX announcing it will cease operations on Sept. 23, ending its 11-year run as a crypto derivatives exchange.
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Crypto Flows, Share and the Selective Rotation
Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
Why it matters :
Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
Russia’s largest bank Sberbank plans crypto trading infrastructure by December
North Korea arrests hackers accused of laundering stolen funds from country's bank via crypto
Robinhood Chain's real-world assets jump fivefold as tokenized stocks start trading in bigger size
U.S. regulator warns prediction markets against cutting corners in event contracts
Europe's high regulatory bar could spark new crypto industry M&A wave
Shiba Inu surges 36% as South Korean traders fuel mystery rally
Original sourceCoinDesk
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