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BitMEX Suit Plaintiffs Claim to Present New 'Smoking Gun' Evidence
The plaintiffs have requested the stay on discovery currently in place be lifted.
Updated Sep 14, 2021, 1:08 p.m. Published Jun 9, 2021, 12:44 p.m.
HDR, the parent company of crypto trading platform BitMEX, which was charged with facilitating unregistered trading in October, faces new "smoking gun" evidence, according to a motion filed by the plaintiffs.
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- The notice filed Tuesday requested the stay on discovery currently in place be lifted and the normal discovery process be allowed to progress.
- BitMEX and senior executives, including CEO Arthur Hayes and company owners Benjamin Delo and Samuel Reed, were charged with facilitating unregistered trading and other violations.
- The civil lawsuit brought by plaintiffs BMA LLC, Yaroslav Kolchin, Vitaly Dubinin and others at the end of October 2020 alleges Hayes, Delo and Reed absconded with over $440 million of proceeds from nefarious activities to reduce the assets seized by authorities when charges were brought.
- HDR denied the charges through a spokesperson, calling the claims "spurious."
- The plaintiffs will move to lift the current stay on discovery on July 14 "in view of both ample and detailed facts and overwhelming documentary evidence."
- The alleged "smoking gun evidence" includes photographs, screenshots and impartial witness statements which the plaintiffs claim should prove market manipulation on the part of BitMEX.
- BitMEX did not immediately respond to CoinDesk's request for comment.
Read more: Former BitMEX Executives to Face Trial in March 2022
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