BitMEX is facing a lawsuit from the Celsius estate over the alleged liquidation and seizure of 6,360 Bitcoin during the March 2020 market crash, according to Cointelegraph. The Bitcoin involved was valued at nearly $490 million. The Celsius estate alleges that BitMEX wrongfully took control of the holdings during the severe market disruption. The legal action comes as BitMEX approaches its exchange closure, adding a legal dispute to the platform’s winding-down process. The case centers on whether the liquidation and subsequent seizure of the Bitcoin were justified. No further details about the estate’s claims or BitMEX’s response were provided in the source material. The dispute could remain relevant to Bitcoin market participants because it concerns a substantial BTC position and actions taken during a major period of market stress.
