Celsius Network’s bankruptcy estate filed a lawsuit against BitMEX in the US Bankruptcy Court for the Southern District of New York on September 12, alleging wrongful liquidation and seizure of 6,360 BTC during Bitcoin’s historic March 2020 crash. The Bitcoin is worth approximately $495 million, making this a potentially significant new recovery channel for creditors. The complaint came just days before BitMEX’s scheduled September 23 shutdown, raising questions about asset preservation during the wind-down. BRIC (Blockchain Recovery Investment Consortium) brought the case as Celsius’s litigation administrator and complex asset recovery manager. This marks the second major lawsuit against BitMEX since it announced plans to wind down operations.
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