Arthur Hayes and BitMEX Co-Founders Face Fraud Claims as Exchange Winds Down
TLDR
- Former BitMEX users filed a proposed class action against the exchange and its co-founders.
- The lawsuit names Arthur Hayes, Samuel Reed, Benjamin Delo, and Gregory Dwyer.
- Plaintiffs allege BitMEX ran an undisclosed “Insider Trading Desk” against customers.
- BKX Services and David Namdar claim combined losses of about 622.66 BTC.
- BitMEX plans to permanently cease operations on September 23, 2026.
BitMEX and its co-founders face a new proposed class action alleging the crypto exchange secretly traded against customers and forced liquidations during volatile market periods.
Former Customers Sue BitMEX and Founders
Two former BitMEX customers filed the lawsuit in the U.S. District Court for the Southern District of New York. BKX Services Inc. and David Namdar brought the case against HDR Global Trading Limited, affiliated entities, and BitMEX co-founders Arthur Hayes, Samuel Reed, and Benjamin Delo.
The complaint also names former business development head Gregory Dwyer as a defendant. The filing arrived on the same day BitMEX announced plans to permanently cease operations on September 23, 2026, after 11 years in business.
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