Technext· 2h ago· 1 min read
Thursday morning, BitMEX told its customers it was shutting down after eleven years pioneering perpetual futures and providing exchange services, thanking them, more or less, for the memories. By Thursday evening, the same day, two of those customers had filed a lawsuit against it in a Manhattan federal court, accusing the exchange of deliberately creating a system to profit from client liquidations.
The complaint comes from BKX Services, a defunct tokenisation project, and David Namdar, an independent trader, and was filed in the Southern District of New York. They are accusing BitMEX of designing a system built to retain customers’ collateral and funnel the surplus bitcoin into its own insurance fund, and claim an internal trading desk had access to private customer data and kept trading through server freezes that locked ordinary users out of their own positions.
According to the…
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