Express
BitMEX Executives Accused Of "Looting" Over $440M From Exchange To Avoid Investigation
Summary: According to the latest document revealed on October 30, the plaintiff of the crypto exchange BitMEX supplemented its lawsuit filed in May. The document stated that “While being keenly aware of the Commodity Futures Trading Commission (“CFTC”) and Department of Justice (“DOJ”) investigations and imminently forthcoming civil and criminal charges, and while preparing to go on ...
According to the latest document revealed on October 30, the plaintiff of the crypto exchange BitMEX supplemented its lawsuit filed in May.
The document stated that “While being keenly aware of the Commodity Futures Trading Commission (“CFTC”) and Department of Justice (“DOJ”) investigations and imminently forthcoming civil and criminal charges, and while preparing to go on a lam from the U.S. authorities, Defendants Hayes, Delo and Reed looted about $440,308,400 of proceeds of various nefarious activities that took place on the BitMEX platform from Defendant HDR accounts."
The document also pointed out that these illegal proceeds were distributed on October 15, 2019, November 19, 2019, and January 2020. The defendant’s legal representative also tried to postpone the proceedings.
The background: The plaintiffs BMA LLC, Yaroslav Kolchin, and Vitaly Dubinin filed a lawsuit against BitMEX-related entities and individuals in the Northern District Court of California, accusing BitMEX parent company HDR Global and BitMEX co-founders Arthur Hayes, Ben Delo, and Samuel Reed of market manipulation and money laundering activities.
By Mary Liu
Tags: BitMEX,CFTC,DOJ,HDR Global,Lawsuit
Link: BitMEX Executives Accused Of "Looting" Over $440M From Exchange To Avoid Investigation [Copy]
