Celsius Seeks $495 Million in Lawsuit Against BitMEX Over Forced Liquidations

Celsius Network's bankruptcy estate has filed a lawsuit against BitMEX, seeking the return of 6,360.17 Bitcoin worth around $495 million.

The suit centers on forced liquidations that took place during the March 2020 COVID market crash.

The Celsius estate claims BitMEX allegedly controlled both the liquidation mechanism and the insurance fund that benefited from those liquidations.

This is the second lawsuit filed against BitMEX since it announced its closure in July, with trading ending on September 23.