Celsius Estate Seeks $495 Million From BitMEX Over 2020 Liquidations

Celsius’s estate has sued BitMEX, seeking $495 million linked to liquidations during the 2020 Covid-19 market crash, according to CoinDesk. The claim centers on 6,360 BTC that the estate says were lost in connection with a leveraged long position. The position contrasts with BitMEX’s marketing as a delta-neutral platform, highlighting a tension between the exchange’s stated trading approach and the exposure involved in the disputed transactions. The case concerns losses incurred during the crash and places Bitcoin at the center of the estate’s recovery effort. No further details about the legal claims or the court proceedings were provided in the source material.