According to CoinMeta, the bankruptcy asset manager Celsius filed a lawsuit against the entities related to BitMEX with the U.S. Southern District Court of New York on September 12, accusing them of fraud, market manipulation, and improper liquidation during the Bitcoin crash in March 2020, involving 6,360 BTC, valued at approximately $495 million at the time of the lawsuit. The case was brought by Blockchain Recovery Investment Consortium (representing Celsius). BitMEX plans to cease trading on September 23, and the allegations have not yet been determined by the court.