Celsius sues BitMEX for $495 million over 2020 liquidations
- —Celsius seeks compensation for losses on 6,360 BTC worth ~$495 million
- —The lawsuit was filed on September 12 in the US Bankruptcy Court for the Southern District of New York
- —Claims relate to the March 12, 2020 liquidations, when BTC crashed from $7,200 to $5,678
- —BitMEX is closing the exchange on September 23 after announcing it in July
Why it matters: The lawsuit creates a risk to BitMEX's assets as the exchange winds down and could lead to a request for interim measures.
Source: CryptoSlate