Woofun AI reports that BKX Services Inc. and David Namdar filed a class action lawsuit against BitMEX in the U.S. District Court for the Southern District of New York. The complaint alleges combined losses of 622.66 BTC due to forced liquidations, claiming the platform's internal desk traded while servers were frozen and users were locked out. Plaintiffs seek restitution and damages for U.S. customers using BTC swap products since July 23, 2018.

Coinciding with the filing, BitMEX announced it will cease services on September 23 following a strategic review by owner HDR Global Trading. The platform has stopped accepting new registrations and plans to prohibit opening new positions starting August 26.