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Celsius Sues BitMEX for $495 Million Over Losses During March 2020 Crash

Guavy AI Editorial Team
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BTC JST
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Celsius Network's bankruptcy estate has filed a lawsuit against entities linked to BitMEX, seeking the return of 6,360.1666 Bitcoin currently valued at roughly $495 million.

The complaint alleges that wrongful liquidations and market manipulation during the March 2020 Bitcoin crash caused Celsius and investment fund JST to lose thousands of BTC.

The lawsuit was filed on September 12 in the U.S. Bankruptcy Court for the Southern District of New York by the Blockchain Recovery Investment Consortium (BRIC), which manages litigation and complex asset recovery for the Celsius bankruptcy estate.

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