{"id":71636,"date":"2022-12-19T14:25:00","date_gmt":"2022-12-19T12:25:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=71636"},"modified":"2025-09-08T10:13:26","modified_gmt":"2025-09-08T07:13:26","slug":"former-bitmex-ceo-sues-exchange-for-3-4-million","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/former-bitmex-ceo-sues-exchange-for-3-4-million\/","title":{"rendered":"Former BitMEX CEO sues exchange for $3.4 million"},"content":{"rendered":"

Departed<\/a> from his post as head of BitMEX, Alexander Heptner, filed a lawsuit against the operator of the crypto-derivatives exchange for $3.4 million. The plaintiff alleges the company engaged in unlawful termination and breach of the terms of the employment contract, The Block reports.<\/p>\n

The amount does not include moral damages.<\/p>\n

The defendant is Three Fins Pte Ltd \u2014 the Singapore arm of the Seychelles-registered HDR Global Ltd, behind BitMEX.<\/p>\n

The hearing is scheduled for January 25.<\/p>\n

According to the plaintiff’s representatives, the company withheld salaries and bonuses after his departure, alleging Heptner used his position to improperly siphon off $230,000 to finance relocations to Singapore and Germany. In this way, the exchange operator allegedly deprived the former CEO of multimillion-dollar compensation.<\/p>\n

The relocation-related expenditures, according to an ‘internal investigation,’ formed the basis for his ‘dismissal for cause,’ according to a statement to the High Court of Singapore.<\/p>\n

\n

\u201cThe post-factum investigation was nothing more than HDR Group\u2019s attempt to cut costs at all levels, despite the relocation issue having been properly resolved.\u201d<\/em>, according to the statement.<\/p>\n<\/blockquote>\n

Founded in 2014, BitMEX was among the first to offer cryptocurrency-based derivatives. Over time, the company faced regulatory problems<\/a>, one consequence of which was a leadership change<\/a>.<\/p>\n

The former head of B\u00f6rse Stuttgart<\/span> Alexander Heptner took over BitMEX at the end of 2020<\/a>.<\/p>\n

In April 2021, the company unveiled<\/a> an ambitious development plan to transform into one of the world’s largest cryptocurrency derivatives exchanges.<\/p>\n

In May 2022, BitMEX launched a platform for spot trading of cryptocurrencies<\/a>. In July, amid the bear market, the companydelayed<\/a> the plannedlisting of a utility token<\/a>.<\/p>\n

Earlier, a BitMEX-linked entitypulled out of<\/a> the planned acquisition of Bankhaus von der Heydt due to possible opposition from BaFin<\/span>, according to reports. The purchase agreementwas signed<\/a> in January 2022.<\/p>\n

Follow ForkLog’s bitcoin news on our Telegram<\/a> \u2014 news on cryptocurrencies, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"

The former BitMEX CEO Alexander Heptner filed a $3.4 million lawsuit against the derivatives exchange operator, alleging unlawful termination and breach of his employment contract, The Block reports.<\/p>\n","protected":false},"author":1,"featured_media":71637,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[788,83],"class_list":["post-71636","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitmex","tag-business"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/71636","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=71636"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/71636\/revisions"}],"predecessor-version":[{"id":71638,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/71636\/revisions\/71638"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/71637"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=71636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=71636"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=71636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}