Bitmex being sued for BTC market manipulation by same ones who did it to XRP

rdbase

legendary

Activity: 2828

Merit: 1497

Join the world-leading crypto sportsbook NOW!

Quote from: figmentofmyass on May 19, 2020, 09:26:22 PM

i'm just gonna leave this here:

This very thing was mentioned by a lawyer discussing about their law firm focused on providing their services specifically for people who have wanted to sue entities during the ICO frenzy from 2015.
https://www.youtube.com/watch?v=Nt8d2k9QyC4&t=585s
Right at the 11 minute mark this tactic was mentioned having a company registered in the small caymen islands as well.
And that is why it is recommend having your crypto holdings with a company based and registered in the U.S so if need be they can be sued if they pull an exit scam or try and hide behind loop holes of the law when it comes to doing dealings overseas such as bitmex's entire outfit being licensed there.
Exactly what you said: "They can not be touched!"
Pavel Pogodin is the lawyer going ahead with this law suit. So you will just have to check on his track record to see what their success rate is before saying this wont go very far. Cheesy

https://decrypt.co/29274/new-class-action-accuses-crypto-exchange-bitmex-of-racketeering-fraud

joniboini

legendary

Activity: 2170

Merit: 1789

It is certainly weird that Bitmex faces some crash coincidentally with BTC making a move. IIRC, the price of Bitcoin went to $0 yesterday and then their site crashed real hard (according to the news that I read).

I'm fairly certain there are enough reasons to doubt them but without further proof, it would be difficult to bring this case further.

figmentofmyass

legendary

Activity: 1652

Merit: 1483

i'm just gonna leave this here:

Quote from: rdbase on May 19, 2020, 02:34:18 PM

Bitmex are being accused from BMA LLC having of orchestrated the largest financial crime of American history.
Illegal wire fraud and money laundering of $3 million each day (but I would imagine it to be more everytime btc price rises closer to $10k) calling them a racketeering company and operating without a legal money transmitter license.

They have been accused of having employees trading against their customers. And everyone who is one of their customers are very suspicious of them doing these outages (even one just happened last night, while the price of btc was having a mini bullrun up to $10k) on purpose so people can not exit from their positions then get their btc liquidated.

This seems like massive market manipulation on an unforeseen level nearing that of criminal activity.

bitcoin manipulation abatement LLC...... Roll Eyes

these are the same ambulance chasers who filed a market manipulation and racketeering suit against FTX a few months ago. that suit was quickly dismissed in its entirety with prejudice: https://www.financemagnates.com/cryptocurrency/news/us-court-dismisses-150-million-lawsuit-against-crypto-exchange-ftx/?tg=1576224857

while bitmex has fucked over a lot people in its time, i doubt this complaint will proceed any further than that one.

rdbase

legendary

Activity: 2828

Merit: 1497

Join the world-leading crypto sportsbook NOW!

Bitmex are being accused from BMA LLC having of orchestrated the largest financial crime of American history.
Illegal wire fraud and money laundering of $3 million each day (but I would imagine it to be more everytime btc price rises closer to $10k) calling them a racketeering company and operating without a legal money transmitter license.

https://www.youtube.com/watch?v=fAx22xq167E&t=1160s

They have been accused of having employees trading against their customers. And everyone who is one of their customers are very suspicious of them doing these outages (even one just happened last night, while the price of btc was having a mini bullrun up to $10k) on purpose so people can not exit from their positions then get their btc liquidated.

This seems like massive market manipulation on an unforeseen level nearing that of criminal activity.

Topic: Bitmex being sued for BTC market manipulation by same ones who did it to XRP (Read 149 times)