Celsius bankruptcy estate sues BitMEX for 6,360 Bitcoin

The Celsius Network bankruptcy estate has filed a lawsuit against five BitMEX entities, seeking the recovery of 6,360.1666 Bitcoin. The claim stems from two forced liquidations that occurred during the market crash in March 2020. The lawsuit, filed by the Blockchain Recovery Investment Consortium in the US Bankruptcy Court for the Southern District of New York, alleges fraud and price manipulation, asserting that BitMEX intentionally designed its liquidation procedures to harm customers. The assets in question are valued at approximately $481 million based on recent market prices.