BitMEX has been accused of more than $400 million in withdrawal following information received about the ongoing investigation.

Management of the BitMEX Bitcoin derivatives exchange reportedly withdrew over $400 million from the company’s accounts when they learned of an ongoing investigation. CoinDesk reports this.

The charges are contained in additional documents to a lawsuit filed this spring in the District Court for the Northern District of California by the law firm Consensus Law on behalf of The Bitcoin Manipulation Abatement LLC (BMA).

They assert that the management of HDR Global (operator of BitMEX), represented by Arthur Hayes, Ben Delo and Samuel Reed, knowing about the investigation being carried out on the company by the US authorities, has systematically withdrawn large amounts of funds.

The distribution of proceeds from criminal activity on the stock exchange was carried out on 15 October and 19 November 2019, as well as in January 2020, when the defendants received information about the investigation and preparation of the charges.

In an effort to reduce the amount that could be confiscated by the US authorities, BitMEX management is expected to have withdrawn a total of $440,308,400. How exactly the withdrawal was carried out is not specified in the document.

A representative of HDR Global categorically rejected these accusations, noting that Pavel Pogodin of BitMEX had previously filed several “fabricated” lawsuits not only against the Crypto Code operator, but also against other cryptographic companies.

“We will act within the normal legal process and are fully confident that the judges will see the true nature of these claims,” HDR Global said.

Recall that BMA sued BitMEX on 16 May, accusing the exchange of illegal activities in the U.S., manipulation of the cryptographic market, fraud, unfair business practices, money laundering and illegal fund management activities.

On 1 October, the U.S. Futures Trading Commission (CFTC) filed a lawsuit against BitMEX and its owners, accusing them of managing an unregistered trading platform and violating KYC/AML procedures.

In addition, the US Department of Justice has brought charges against the management of the Exchange for violating the US Bank Secrecy Act.

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