Celsius files $495M lawsuit against BitMEX over 2020 crash
#CelsiusNetwork estate has sued #BitMEX over forced liquidations during the March 2020 COVID crash, seeking the return of 6,360 BTC, currently valued at around $495M. Blockchain Recovery Investment Consortium, the litigation administrator in Celsius’ bankruptcy, filed the complaint on September 12 in the U.S. Bankruptcy Court for the Southern District of New York.
Celsius claims it lost 1,325.84 BTC in a single liquidation on March 12, 2020, while investment fund JST, which assigned its claims to Celsius, lost another 5,034.33 BTC the next day. Both held positions that benefited if Bitcoin’s price remained stable or increased. The lawsuit alleges BitMEX controlled both the liquidation mechanism and the insurance fund that accumulated proceeds from those liquidations.
👉 coindesk.com/business/2026/09/16/celsius-sues-bitmex-for-usd495-million-over-2020-crash-liquidations
#CelsiusNetwork estate has sued #BitMEX over forced liquidations during the March 2020 COVID crash, seeking the return of 6,360 BTC, currently valued at around $495M. Blockchain Recovery Investment Consortium, the litigation administrator in Celsius’ bankruptcy, filed the complaint on September 12 in the U.S. Bankruptcy Court for the Southern District of New York.
Celsius claims it lost 1,325.84 BTC in a single liquidation on March 12, 2020, while investment fund JST, which assigned its claims to Celsius, lost another 5,034.33 BTC the next day. Both held positions that benefited if Bitcoin’s price remained stable or increased. The lawsuit alleges BitMEX controlled both the liquidation mechanism and the insurance fund that accumulated proceeds from those liquidations.
👉 coindesk.com/business/2026/09/16/celsius-sues-bitmex-for-usd495-million-over-2020-crash-liquidations
