Celsius sues BitMEX for $495 million over 2020 crash liquidations
60-second summary
Celsius’s estate files a $495 million lawsuit against BitMEX, alleging the exchange forced liquidations that erased 6,360 BTC during the 2020 COVID‑19 market crash. The claim highlights a leveraged long position that contradicts Celsius’s advertised delta‑neutral strategy, suggesting mis‑aligned risk management. The case could pressure crypto lenders to clarify exposure and tighten compliance.
The estate is chasing 6,360 BTC lost in the Covid crash — a leveraged long position that sits awkwardly with the lender's delta-neutral marketing.