The top executives at HDR, the parent corporation of one of the largest crypto derivates trading platform BitMEX, which was recently accused of assisting unreported trading, apparently looted $440,308,400 from HDR accounts in a planned manner, according to a recent suit. A representative of HDR stated the claims to be false.
While the assertions faced by HDR are being prosecuted, the case registered in the name of plaintiffs, Yaroslav Kolchin, Vitaly Dubinin, and BMA LLC solicit an order of attachment over the HDR assets.
The suit claims,
“While being keenly aware of the Commodity Futures Trading Commission (‘CFTC’) and Department of Justice (‘DOJ’) investigations and imminently forthcoming civil and criminal charges, and while preparing to go on a lam [sic] from the U.S. authorities, Defendants Hayes, Delo, and Reed looted about $440,308,400 of proceeds of various nefarious activities that took place on the BitMEX platform from Defendant HDR accounts,”
BitMex Funds Redirected to Save Assets
The suit further alleges that the looting happened to minimize the number of assets that could be taken into account by the authorities had made accusations of unreported trading against BitMex. On October 1, the US Commodities Futures Trading Commission (CFTC) and the Department of Justice both announced criminal charges against BitMEX.
An affixed exhibit doesn’t state how the money was diverted, but claims that the officials had started redirecting BitMEX’s profits once they became conscious of potential accusations in 2019.
The Department of Justice and U.S. Commodities Futures Trading Commission (CFTC) on October 1 declared charges faced by BitMEX and its senior officials.
A representative of HDR Global Trading Limited rejected the assertions, stating:
“Pavel Pogodin of ‘Consensus Law’ has filed a series of increasingly spurious claims against us, and others in the cryptocurrency sector. We will deal with this through the normal litigation process and remain entirely confident the courts will see his claims for what they are.”