Celsius estate sues BitMEX for $495M over 2020 liquidations

The estate of bankrupt crypto lender Celsius is suing BitMEX for $495 million, chasing 6,360 BTC it says was lost during the March 2020 Covid crash. The claim centers on a leveraged long position the estate argues sits awkwardly with Celsius's "delta-neutral" marketing at the time.

• The suit targets bitcoin liquidated when markets crashed at the start of the pandemic.
• Celsius collapsed in 2022 and has since wound down through bankruptcy proceedings.