HDR Co-founders faced criminal charges
Moreover, the co-founders of the exchange are Arthur Hayes, Ben Delo, and Samuel Reed. However, they have looted over $440 due to various evil activities. In addition, BMA LLC, Vitaly Dubinin, and Yaroslav Kolchin filed the lawsuit against the exchange.
The report adds,
Defendants Hayes, Delo and Reed looted about $440,308,400 of proceeds of various nefarious activities that took place on the BitMEX platform from Defendant HDR accounts.
Furthermore, the three co-founders siphoned the funds from HDR’s accounts. After they became conscious of the investigations by the US Commodity Futures Trading Commission (CFTC). And also the Department of Justice (DOJ).
Distribution surge indicates Defendants looting
HDR Global Trading Limited representative explained that the Pavel Pogodin of Consensus Law has filed a series of increasingly spurious claims against them and others in the cryptocurrency industry.
Moreover, Pavel Pogodin believes that prior to the CFTC and DoJ crackdown, Bitmex co-founders were seeking to make its funds unavailable for the group’s future judgments against it.
Profit distributions at a rate of over $440 million in just three months. This is clearly not executed in the ordinary course of business. As they represent a $1.761 million annual profit distribution rate, which money Defendant HDR simply does not earn.
Moreover, such a remarkable surge in proceeds distributions clearly shows that Defendants are looting Bitmex Insurance.