Celsius Sues BitMEX for $495 Million Over 2020 Liquidation Losses

Celsius Network has filed a $495 million lawsuit against BitMEX, alleging that the cryptocurrency exchange's liquidations in June 2020 led to significant losses for Celsius.

The lawsuit claims that BitMEX's liquidation of users' positions on June 27, 2020, caused Celsius to lose millions due to its own trading activities with BitMEX.

Celsius is seeking damages of $495 million, which it claims represents the total losses incurred as a result of BitMEX's actions.