Celsius sues BitMEX, seeking $495 million in damages Bankrupt platform Celsius' estate management has filed a lawsuit against BitMEX, demanding the recovery of 6,360 BTC that were forcibly liquidated during the March 2020 pandemic crash, worth approximately $495 million at current prices. The lawsuit claims that BitMEX simultaneously controlled the liquidation system and the resulting insurance fund, alleging it 'intentionally designed the liquidation mechanism to defraud customers.' The allegations have yet to be verified. This marks the second lawsuit BitMEX has faced since announcing its liquidation, with the exchange set to cease trading on September 23.