> Your account is immediately frozen if you log in just once via a US IP address.
The complaint alleges that the check for a US IP address only happened once and that they did not take any precautions against VPN usage, so as long as you VPN'd once, you could login from US addresses as much as you wanted afterwards.
Furthermore, the complaint alleges that the company leadership received analytics reports broken down by country, including the US; and that the team did not monitor the funds from a hack in 2018, which allowed the hackers to launder those funds.
These allegations may be false, but the case seems strong that Bitmex 1. served US customers, 2. did not comply with the necessary US regulations to serve those customers.
The complaint is factually incorrect. I visited BitMEX while on a holiday trip to the USA. Immediately I got a notice of account closure, banning me from trading and telling me to withdraw my funds in 7 days.
I petitioned support and was unable to get my account restored.
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It's impossible to monitor EVERY single hack in the crypto space, but BitMEX has actively worked to do their best to track and freeze hack funds.
Their customer service is incredible, when I had an issue with their API, I got a direct response from the CTO fixing my code for me, within the same hour.
When I had a dispute with instrument methodology, one of the founders got back to me in the same day, explaining why.
It has never been hacked or suffered a serious security breach. The only thing I remember was a one-time accidental CC instead of BCC in the newsletter program.
The complaint alleges that the check for a US IP address only happened once and that they did not take any precautions against VPN usage, so as long as you VPN'd once, you could login from US addresses as much as you wanted afterwards.
Furthermore, the complaint alleges that the company leadership received analytics reports broken down by country, including the US; and that the team did not monitor the funds from a hack in 2018, which allowed the hackers to launder those funds.
These allegations may be false, but the case seems strong that Bitmex 1. served US customers, 2. did not comply with the necessary US regulations to serve those customers.