Celsius Sues BitMEX for $499M in Lost Bitcoin

The litigation administrator for Celsius, a defunct cryptocurrency group, has filed a lawsuit against BitMEX in New York bankruptcy court. The suit alleges that BitMEX manipulated the crypto market and triggered the liquidation of Celsius's assets.

The complaint seeks to recoup $499 million in Bitcoin from BitMEX, which Celsius claims was lost due to the trading platform's actions. The lawsuit accuses BitMEX of engaging in a scheme to profit from the decline of other cryptocurrencies, including Bitcoin.

The case is ongoing, with no further details provided on the expected outcome or next steps in the litigation process.