Traders' BitMEX Racketeering Suit Dismissed With A Warning

By Elise Hansen (March 12, 2021, 10:19 PM EST) -- A California federal judge on Friday nixed traders' lawsuit accusing cryptocurrency exchange BitMEX of racketeering and "myriad" illegal activities, and warned the traders "to allege only relevant facts" if they bring their claims again.

U.S. District Judge William H. Orrick said four individual traders and BMA LLC, an entity co-owned by several traders, did not adequately show how they had been harmed by the alleged wrongdoing. While the traders may try again with their claims, Judge Orrick cautioned against the lengthy style of their original complaint.

"Plaintiffs' 237-page, 618-paragraph, 18-exhibit complaint is hardly a 'short and plain statement of the claim...

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