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BitMEX Accused of Seizing Customer Assets During Platform Outages

Guavy AI Editorial Team
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A class action lawsuit has been filed against BitMEX, alleging that the exchange used server freezes and internal trading to seize 622.665 BTC from customers during platform outages.

The plaintiffs, BKX Services Inc. and David Namdar, claim they lost a total of 622.66 BTC through BitMEX liquidations between 2018 and 2020.

The suit alleges that an internal trading desk used customer data to exploit traders' positions during platform outages, while also trading on reference exchanges to induce price moves that triggered liquidations.

BitMEX denies the claims, calling them 'spurious and opportunistic.'

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