BitMEX Faces Proposed Class Action Seeking Return Of 622 BTC
BitMEX is facing a proposed class action in the Southern District of New York seeking the return of 622.66 BTC over alleged forced liquidations and platform misconduct.
The complaint was filed on July 23, 2026, by BKX Services Inc. and David Namdar against HDR Global Trading Limited, Arthur Hayes, Benjamin Delo, Samuel Reed, and Gregory Dwyer, according to public court-monitoring records and related reports. The case is listed under No. 1:26-cv-06259.
The allegations are serious.
The plaintiffs claim BitMEX operated an internal trading desk that had access to customer data and traded against users, while platform freezes allegedly contributed to forced liquidations. The claim seeks the return of more than 622 BTC, valued at roughly $40.7 million.
The important caveat is equally serious: these are allegations at the complaint stage. Wrongdoing has not been proven.
TL;DR
- BitMEX faces a proposed class action seeking the return of 622.66 BTC.
- Plaintiffs allege forced liquidations, platform freezes, and improper internal trading activity.
- The case is at the complaint stage, and the allegations have not been proven.
Why The Case Matters
BitMEX is one of the most important names in crypto derivatives history.
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