BitMEX Sued for $40.7 Million Over Alleged Forced Liquidations

BitMEX, a pioneering player in crypto derivatives, is facing a proposed class action lawsuit seeking the return of 622.66 BTC, valued at approximately $64,103.00.

The complaint was filed on July 23, 2026, by BKX Services Inc. and David Namdar against HDR Global Trading Limited, Arthur Hayes, Benjamin Delo, Samuel Reed, and Gregory Dwyer in the Southern District of New York.

The plaintiffs allege that BitMEX operated an internal trading desk with access to customer data, which traded against users, while platform freezes led to forced liquidations.

The case is at the complaint stage, and wrongdoing has not been proven.