Woofun AI reports that Binance founder CZ expressed regret over the closure of BitMEX, acknowledging its role in launching 100x cryptocurrency trading in 2014. The platform operated with strict security measures, including Bitcoin-only deposits and multi-signature wallets, which prevented hacking incidents.

CZ noted that the founders admitted to Bank Secrecy Act violations, resulting in $10 million fines each and house arrest, though no jail time was served. He attributed the platform's demise to regulatory pressures and praised the orderly liquidation process that allowed user withdrawals.