Celcius Files $495 Million Lawsuit Against BitMEX

Celcius bankruptcy estate has claimed it suffered $495 million (approximately 67.32 billion KRW) in losses due to a 2020 Bitcoin (BTC) liquidation incident, filing a lawsuit against BitMEX-related entities for damages. The claim involves 6,360.1666 BTC. CryptoSlate reported that the Celcius bankruptcy estate filed the complaint with the U.S. Southern District Court of New York on March 12. The filing alleges that BitMEX-related entities committed fraud, market manipulation, and improper liquidations in the Bitcoin market during March 2020. The court records indicate the lawsuit was filed on March 12. BitMEX has announced it will cease exchange operations at 1 PM (KST) on March 23.