BitMex exchange hit with $300 million investor suit

by in Cryptocurrency News

CEO of BitMex

One of the most successful crypto exchanges - BitMex and its CEO Arthur Hayes are being claimed for $300 million for supposedly stiffing an initial investor.

RGB Coin Ltd. and Frank Amato state they have been the preeminent investor of this exchange. The lawsuit stated that the investment of $30000 was thought to become a property that will be presently evaluated at $50 million, but they were not given the equity. Amato insists BitMex gave him incorrect info. Amato mentioned the fact that the organization has employees in California and is listed in Seychelles.

BitMex representatives stated: “We are going to address Mr. Amato’s claims through the conventional legal ways and won't comment beyond that.”

Related: BitMEX exchange leaked data

Amato and his firm require to regain the cost of their assets, more than $50 million, and $250 million in vindictive losses. Based on the determined rate of the stake, the exchange is now priced at about $1 billion.