Skip to content
Subscriber Only

Crypto Exchange BitMex Hit With $300 Million Investor Suit

  • RGB Coin, claiming to be angel investor, alleges fraud
  • BitMex didn’t immediately respond to a request seeking comment
Arthur Hayes speaks during the Consensus: Invest event in New York on Nov. 28, 2017. 

Arthur Hayes speaks during the Consensus: Invest event in New York on Nov. 28, 2017. 

Photographer: Michael Nagle/Bloomberg
Updated on
From

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.