Crypto
BitMEX Faces Proposed Class Action Over Alleged Forced Liquidations
BitMEX is facing a proposed class action lawsuit in the Southern District of New York, seeking the return of 622.66 BTC valued at approximately $40.7 million.
The plaintiffs, BKX Services Inc. and David Namdar, allege that BitMEX operated an internal trading desk with access to customer data, traded against users, and contributed to forced liquidations through platform freezes.
BitMEX's planned termination of operations on September 23, 2026, adds pressure as users may want clarity before the platform disappears from normal operation.