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Arthur Hayes and BitMEX co-founders face proposed fraud class action
The proposed case alleges insider trading tied to an alleged BitMEX “Insider Trading Desk” and also claims the exchange deliberately froze servers as it wound down.
The Block reports that Arthur Hayes and BitMEX co-founders Samuel Reed and Benjamin Delo are facing a proposed class action focused on alleged fraud and insider trading tied to an “Insider Trading Desk.”
According to the proposed complaint, the plaintiffs also allege that BitMEX deliberately froze servers, an action they claim occurred as the exchange moved toward wind-down.
The filing is framed as a fraud-related dispute centered on BitMEX’s business practices and alleged conduct by its founders, with the exchange’s closure forming part of the background to the allegations.