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Plaintiffs Claims They Are Owed $540M In Amended BitMEX Lawsuit
Summary: BitMEX, the crypto derivatives exchange, and founder Arthur Hayes have been hit with a lawsuit, which claims that the plaintiffs are collectively owed $540 million. Last Decemeber, plaintiffs Frank Amato and RGB Coin Ltd originally filed their lawsuit against the exchange for $300 million. The lawsuit comes because their initial $30,000 investment in BitMEX in ...
BitMEX, the crypto derivatives exchange, and founder Arthur Hayes have been hit with a lawsuit, which claims that the plaintiffs are collectively owed $540 million.
Last Decemeber, plaintiffs Frank Amato and RGB Coin Ltd originally filed their lawsuit against the exchange for $300 million. The lawsuit comes because their initial $30,000 investment in BitMEX in 2015 was allegedly meant to be converted into equity upon the exchange's first fundraising event, but they weren't given the equity, per the lawsuit at the time.
The amended lawsuit, filed late last month, now includes Elfio Guido the second seed investor in BitMEX. Because of this the total equity rights amount claimed has grown from $50 million to $90 million, and punitive damages amount went from $250 million to $450 million.
By Janelle Fox
Tags: Authur Hayes,BitMEX,Elfio Guido,Frank Amato,Lawsuit,RGB Coin Ltd
Link: Plaintiffs Claims They Are Owed $540M In Amended BitMEX Lawsuit [Copy]
