Did BitMEX executives loot over $440 million?
According to an October 30th court filing, BitMEX executives looted $440,308,400 from the exchange once they learned they were under investigation by the United States government.
“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 accounts of Defendant HDR, Exhibits E, F, G,” says the
court filing.
It goes on to say that the BitMEX executives purposefully
did this to “hinder Plaintiffs’ and Government’s recovery of any future
judgments.” Or in other words, to reduce the value of assets under BitMEX’s
control that can be seized by government officials.
This October 30th filing is the latest in the lawsuit that
originally began in May 2020 by Pavel Pogodin’s Bitcoin Manipulation Abatement
LLC (BMA) that accuses BitMEX of racketeering, wire fraud, money laundering,
and more.
Where’s the evidence?
Although the plaintiffs are arguing that BitMEX executives
looted BitMEX, they have not provided any evidence that supports their claim in
the new filing.
When BMA first pressed charges against BitMEX in May, the
HDR global team acknowledged BMA but wrote them off by saying, “BMA has
recently emerged as a serial filer of claims against companies operating in the
cryptocurrency space, and is widely recognized for operating just like a patent
troll.”
Regardless, any lawsuit filed against BitMEX–especially
those filed before October 1st–have been given validity by the charges pressed
against the BitMEX exchange by the Commodities Futures Trading Commission and
the Department of Justice. Now, it is only a matter of time until the courts in
the United States make a decision that decides the fate of the BitMEX exchange.
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