BitMEX Racketeering And Manipulation 'Staggering,' Suit Says

Law360 (May 19, 2020, 10:46 PM EDT) -- Large crypto derivatives exchange BitMEX is facing a lawsuit in California federal court alleging the company engaged in "truly staggering" unlawful activities including racketeering and cryptocurrency manipulation.

An amended complaint filed Monday by little-known BMA LLC, which also has open litigation against Ripple and derivatives exchange FTX, outlines a litany of claims that BitMex's parent company, HDR Global Trading Limited, through U.S. entity ABS Global Trading Limited and its founders, engaged in a widespread illegal scheme of unregistered money transfers and market manipulation that earned them billions of dollars in profits.

BMA's suit filed in the U.S. District Court for the...

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