BitMEX hit with $300 million lawsuit
12 December 2019 - 8:20PM
Coin Rivet
BitMEX – one of the world’s largest and most popular
cryptocurrency exchanges – and its founder Arthur Hayes have been
slapped with a $300 million lawsuit, according to a report by
Bloomberg. Frank Amato and RGB Coin Ltd allege to have been the
first seed investors in the platform back in 2015. They claim their
$30,000 investment was supposed to have been converted into equity.
This conversion is now valued at more than $50 million, according
to reports. The suit claims neither party has been granted the
equity. Amato also alleges that BitMEX provided him with false
information. The parties are seeking to recoup both the current
value of their equity alongside $250 million in punitive damages.
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