BitMEX Hit With Another Lawsuit

BitMEX Hit With Another Lawsuit

By Abhimanyu Krishnan | News | 18 Nov 2020


Derivatives exchange BitMEX is facing yet another lawsuit, after a Romanian citizen filed a complaint on Nov.13 against parent company HDR Global Trading Limited. 

  • Păun Gabriel-Razvan, a Romanian citizens from Bucuresti, filed the lawsuit in the Northern District of California, alleging money laundering, racketeering and market manipulation
  • The lawsuit has also filed a case against founders and executives of the company, including co-founders Arthur Hayes, Ben Delo and Samuel Reed
  • The complaint alleges that Gabriel-Razvan was defrauded out of 247.94 BTC -- he is seeking punitive damages of 3 times this amount (worth $12.6 million) plus additional expenses
  • In Oct. 2020, a Russian citizen by the name of Dmitry Dolgov also filed a lawsuit against the exchange, and is represented by the same attorney, Pavel Pogodin of Consensus Law
  • The exchange is currently involved in high-profile two lawsuits from the US CFTC and the NY Attorney’s office
  • BitMEX has brushed aside the allegations, accusing Pogodin of filing ‘copy and paste’ complaints; in order to combat complaints concerning KYC/AML, the exchange pulled forward its deadline for related requirements

Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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