BitMEX faces proposed class-action suit for theft, insider trading as crypto exchange shuts down

60-second summary

BitMEX is facing a proposed class-action suit alleging theft and insider trading. The complaint claims the exchange designed a system to retain customer collateral and accessed private user data during server freezes. This comes as BitMEX is shutting down its services, sparking concerns about the security and integrity of customer assets and the broader cryptocurrency market's trust in exchanges.