BitMEX, one of the best known among Bitcoin derivatives platforms, faced a lawsuit filed on May 16. The lawsuit filed against HDR Global Trading Limited, that is, the parent company of BitMEX and its three founding partners Arthur Hayes, Samuel Reed and Ben Delo, has multiple imports.
BitMEX Serves U.S. Citizens
The biggest reason for the lawsuit to be filed within the USA is that BitMEX does not have a license, but claims to serve citizens in the USA. The claimant claims that BitMEX was an intermediary for US citizens in the amount of $ 138 billion in 2019 and that 15% of its total annual volume was formed as such.
In addition, it is emphasized that the Seychelles-based crypto exchange is laundering money, manipulating prices, and even resorting to blackmail and extortion. BitMEX cryptocurrency exchange stopped serving for technical reasons after the BTC price saw its bottom within 12 minutes, and it was on the agenda of investors with this incident.
This lawsuit filed against BitMEX could undermine confidence in the cryptocurrency exchange and pull the Bitcoin balances of the stock market, which has already decreased by 50%, to the bottom.