Current outcome
Celsius's bankruptcy estate sued five BitMEX entities in the U.S. Bankruptcy Court for the Southern District of New York on Sept. 12 over BTC liquidated during the March 2020 crash; new reporting adds details about the XBTM20 leveraged derivative and Mashinsky's public denial of trading. BitMEX is set to stop trading Sept. 23.
Progress timeline
3 material updates- #01
Celsius sues BitMEX for $495 million just 11 days before exchange shutdown
Celsius's bankruptcy estate sued BitMEX for $495 million over the alleged wrongful liquidation and seizure of 6,360 BTC during the March 2020 crash, filing just 11 days before the exchange's shutdown.
Source evidence: CryptoSlate
- #02
Celsius sues BitMEX for $495 million over 2020 crash liquidations
The complaint was filed against five BitMEX entities in the U.S. Bankruptcy Court for the Southern District of New York on Sept. 12 by Blockchain Recovery Investment Consortium; the claim breakdown is 1,325.84 BTC lost by Celsius and 5,034.33 BTC assigned from JST.
State after update: Celsius's bankruptcy estate sued five BitMEX entities in the U.S. Bankruptcy Court for the Southern District of New York on Sept. 12, seeking about $495 million for 6,360 BTC liquidated during the March 2020 crash; BitMEX is set to stop trading Sept. 23.
Source evidence: CoinDesk · Cointelegraph
- #03
Celsius sues BitMEX over trades Alex Mashinsky said never happened
The new report further details that Celsius traded the leveraged derivative XBTM20 on BitMEX and that Alex Mashinsky publicly claimed one day after the liquidation that Celsius did not trade, contradicting the debtors' allegations.
State after update: Celsius's bankruptcy estate sued five BitMEX entities in the U.S. Bankruptcy Court for the Southern District of New York on Sept. 12 over BTC liquidated during the March 2020 crash; new reporting adds details about the XBTM20 leveraged derivative and Mashinsky's public denial of trading. BitMEX is set to stop trading Sept. 23.
Source evidence: Protos