BitMEX Faces Proposed Class Action Seeking Return Of 622 BTC
Summary
BitMEX faces a proposed class action in the Southern District of New York, filed July 23, 2026 by BKX Services Inc. and David Namdar against HDR Global Trading Limited and several executives. The suit seeks return of 622.66 BTC, worth about $40.7 million, over alleged forced liquidations and platform misconduct. The complaint claims BitMEX had an internal trading desk with access to customer data, traded against users, and that platform freezes helped trigger liquidations. The case highlights longstanding crypto derivatives issues: exchange transparency, conflicts of interest, liquidation mechanics, and outage risk. These are allegations only; wrongdoing has not been proven.
