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BitMEX faces class action lawsuit for allegedly profiting from forced Bitcoin liquidations before its September shutdown.

Market News
24 Jul 2026
Crypto news
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Bearish
pluang ai news

BitMEX is being sued in a proposed class action in the U.S. accusing the crypto derivatives exchange of engineering forced liquidations to retain over 622 BTC before its planned shutdown in September. Plaintiffs claim BitMEX liquidated customer positions prematurely, transferring leftover Bitcoin collateral into its insurance fund, thus profiting unfairly. The lawsuit alleges BitMEX's internal trading desk had unfair advantages, including access to non-public info and trading during outages. BitMEX announced it will close exchange operations on September 23, with users able to withdraw funds afterward but warned of potential delays and phishing scams during the wind-down period.

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