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Early BitMEX Investor Files Suit Against the Platform

BitMEX – one of the world’s largest and most prominent bitcoin and cryptocurrency exchanges – is being sued by one of its early investors over potential fraud and lost equity.


BitMEX Is In Trouble All Over Again


The plaintiff in this case is a former JPMorgan derivatives trader named Frank Amato. He and his company RGB Coin are looking to garner $300 million in restitution from BitMEX and its head executive Arthur Hayes, who also owns a company called HDR Global Trading.


Amato claims he was one of the first people to invest in the exchange, providing the company with more than $30,000 in the year 2015 on account of his promises of equity. Amato claims that over the past four years, he has not received a dime.


Court documents suggest that Hayes may have worked to conceal the equity owed to Amato and to hide information relating to his investments. It is now believed that Amato’s stake in the company would be worth more than $50 million. Read More...

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