Celsius Network Files Lawsuit Against BitMEX for Return of 6,360 BTC

Celsius Network's bankruptcy estate has filed a lawsuit demanding the return of 6,360 Bitcoin (BTC) it claims was lost during a forced liquidation in March 2020. The complaint was submitted to the U.S. District Court for the Southern District of New York on September 12.

The bankruptcy estate alleges BitMEX's improper liquidation and market manipulation caused Celsius and investment fund JST to lose Bitcoin. According to Odele, Celsius claims BitMEX controlled the system determining when customer positions were liquidated and managed the insurance fund used during liquidations. The allegations remain unproven as they await court review.