BitMEX, the crypto derivatives giant set to shut down on September 23rd, is now under fire from a new class-action lawsuit alleging theft, insider trading, and unfair liquidations — just as it wraps up its 11-year run. Plaintiffs claim the exchange hoarded over $40 million in Bitcoin and exploited server freezes to trade on private user data, while also failing to return customer funds after forced liquidations. The suit, targeting U.S. users since July 2018, demands Bitcoin restitution and damages — echoing a similar case from 2020 that never reached a ruling. With its CEO recently stepping down and a strategic exit underway, BitMEX’s legacy is now entangled in legal controversy.
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