BitMEX officials are being accused of looting more than $ 440 million after receiving information about the ongoing investigations and civil and criminal charges.
November 1, 2020 | AtoZ Markets – The management of the bitcoin derivatives exchange BitMEX allegedly withdrew more than $440 million from the company’s accounts when it learned about the ongoing investigation into it.
The allegations are contained in additional documents to the lawsuit filed this spring in the Northern District of California by Consensus Law on behalf of The Bitcoin Manipulation Abatement LLC (BMA).
The civil lawsuit claims that the management of HDR Global (operator BitMEX) represented by Arthur Hayes, Ben Delo, and Samuel Reed, knowing about the investigation being carried out by the US authorities, systematically withdrew large amounts of funds.
The distribution of the proceeds received by the exchange as a result of criminal activities was carried out on October 15 and November 19, 2019, as well as in January 2020, when the defendants received information about the investigation and preparation of the prosecution.
HDR Global denies allegations against BitMEX officials
It is assumed that in an effort to reduce the amount that the US authorities could confiscate, the BitMEX management withdrew a total of $ 440,308,400. The document does not, however, specify exactly how the withdrawal of funds was carried out.
A spokesman for HDR Global has categorically denied these allegations, noting that Pavel Pogodin of Consensus Law had previously filed several “fabricated” lawsuits not only against BitMEX, but also against other cryptocurrency companies.
“We will act as part of a normal legal process and are fully confident that the judges will see the true nature of these claims,” – said in HDR Global.
Recall that BMA filed a lawsuit against BitMEX on May 16, accusing the exchange of conducting illegal activities in the United States, manipulating the cryptocurrency market, fraud, unfair business practices, money laundering and illegal activities to manage raised funds.
As AtoZ Markets reported on October 1, the United States Futures Trading Commission (CFTC) filed a lawsuit against BitMEX and its owners, accusing them of operating an unregistered trading platform and violating the rules regarding the conduct of KYC / AML procedures.
In addition, the US Department of Justice has charged the exchange’s management with violating the US Bank Secrecy Act.
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