Binance Bitcoin Futures ‘attacker’ hit with $150 million lawsuit

Bitcoin Manipulation Abatement LLC has filed a $150 million lawsuit against crypto derivatives exchanges FTX and trading firm Alameda Research LLC—which shares its CEO with FTX. The lawsuit, filed Sunday and amended Monday, alleges that the CEO and multiple employees twice unsuccessfully tried to manipulate Bitcoin prices on cryptocurrency exchange Binance.

“Both times, defendants, and each of them, were caught by Binance’s market surveillance functionality and their manipulation attempts were thwarted,” says the lawsuit.

On September 16, Binance’s CEO, Changpeng Zhao, shamed the culprits—”a market maker from a smaller futures exchange”—for trying to manipulate the exchange. The attempt was unsuccessful: “Only the attacker lost a bunch of money,” he tweeted. Read More...