Celsius' bankruptcy estate has sued entities linked to BitMEX in the U.S. Bankruptcy Court for the Southern District of New York, seeking about $495 million tied to Bitcoin's March 2020 crash.
The complaint was brought by the Blockchain Recovery Investment Consortium (BRIC) on behalf of Celsius and alleges fraud, market manipulation, and wrongful liquidations during the March 2020 sell-off, covering 6,360 BTC worth roughly $495 million at the time of filing. The filing landed on September 12, just 11 days before BitMEX is scheduled to stop trading on September 23. The allegations have not been established by the court.
The case reopens one of crypto's most contentious episodes, as a defunct lender's estate chases recovery from an exchange that is itself winding down, testing how far bankruptcy claims can reach into events from five years ago.
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