Celsius Sues BitMEX for $495 Million Over Controversial Liquidations
The Celsius bankruptcy estate has filed a lawsuit against BitMEX, demanding the recovery of approximately $495 million worth of Bitcoin. The dispute revolves around liquidations executed in March 2020, when BitMEX forcibly closed trading positions and retained customer collateral.
The complaint alleges that BitMEX controlled both the liquidation system and the insurance fund that profited from these forced closures. This created a direct financial incentive for the platform to prioritize its own interests over those of its customers.
The lawsuit, filed on September 12, is the second legal challenge against BitMEX since its July shutdown announcement. The Celsius estate seeks the recovery of 6,360.17 BTC, which would bring the total value back to its current market price.