Crypto Exchange BitMex Hit With $300 Million Investor Suit (1)

Dec. 12, 2019, 3:28 PM

BitMex, one of the world’s most popular cryptocurrency exchanges, and founder Arthur Hayes are being sued for $300 million for allegedly stiffing an early investor.

Frank Amato and RGB Coin Ltd. claim to have been the first seed investor of BitMex in 2015. The $30,000 investment was supposed to later be converted into equity, currently valued at more than $50 million, but they weren’t granted the equity, the suit said. Amato claims BitMex, which has employees in California and is registered in the Seychelles, gave him false information.

Arthur Hayes, chief executive officer of BitMEX.

The suit Dec. 4 in California state superior court in San ...

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