BitMEX, one of the most popular derivatives exchanges in the cryptocurrency market, has come under fire with accusations of being purposefully designed to facilitate “a myriad of illegal activities." The accusations were made in a lawsuit filed by BMA LLC in the United States District Court for the Northern District of California on May 16.
In the lawsuit, both HDR Global Trading — BitMEX’s parent company — and Arthur Hayes, Ben Delo and Samuel Reed — the exchange’s top executives —— stand accused of either engaging in or facilitating multiple criminal activities including racketeering, money laundering, wire fraud and operating an unlicensed money transmitting business.