11/1/2020, 12:01 AM (Source: TeleTrader)
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Ex-BitMEX heads sued for looting over $440M

Former top figures at HDR Global Trading Limited, the owner of the cryptocurrency trading platform BitMEX, are facing a civil lawsuit for allegedly "looting" after finding out BitMEX was being probed.

According to the official lawsuit, "defendants Arthur Hayes, Ben Delo and Samuel Reed looted $440,308,400 of proceeds of various nefarious activities that took place on the BitMEX platform from Defendant HDR accounts."

On October 1, the United States Commodity Futures Trading Commission (CTFC) accused five entities and three individuals involved with BitMEX of getting over $11 billion worth in Bitcoin and more than $1 billion in extra fees that it is suspected to be illegal.

Breaking the News / TF