Old BitMEX CEO Alexander Hoeptner, cryptocurrency filed a $3.4 million lawsuit for breach of contract and wrongful termination. It was previously reported that Hoeptner left the company in October 2022.
Former BitMEX CEO Alexander Hoeptner Sues The Exchange For Breach Of Contract And Wrongful Termination
Hoeptner joined the Seychelles-listed exchange in January 2021, at a time when senior officials of HDR Global Trading Limited, which owns and operates BitMEX, were involved in a lawsuit accusing the founders of facilitating unregistered trading.
It was previously reported that Hoeptner left the company in October 2022, but no further details were given. Hoeptner has now claimed to have received a letter of termination citing, among other things, misuse of funds and failure to perform duties.
In the court file, it was stated that the termination in question was completely unjustified and unfounded.
According to Hoeptner, BitMEX owes him $2.4 million for the second-year bonus and a total of $3.4 million, including remaining salaries, relocation expenses and smaller amounts for housing.
Hoeptner moved several times during his tenure as BitMEX CEO, splitting his time between Hong Kong, Germany and Singapore.
The file said no objections or concerns were expressed about the plaintiff’s relocation and the costs HDR Group would incur in this regard.
The crypto exchange recently cut its workforce by 30% while trying to focus on derivatives trading.
Earlier this year, Arthur Hayes, the former CEO of BitMEX, was sentenced to two years on probation after pleading guilty to intentionally failing to implement the anti-money laundering (AML) program.
*Not investment advice.
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