BitMEX suffered a distributed denial-of-service (DDoS) attack on the worst day imaginable—Black Thursday. The exchange appears to be paying dearly for the blip, according to Coin Metrics, which said BitMEX's share of the bitcoin futures market has tumbled since then.
Eleven cryptocurrency issuers and exchanges including Tron, Block.one, and Binance were hit with class action lawsuits last week for holding or supporting initial coin offerings. Ominously, they were filed by a group of lawyers led by Philippe Selendy, who the Financial Times called “The man who took on Wall Street” after he forced 16 major banks including Citigroup, Goldman Sachs, and JPMorgan Chase to pay $25 billion for their part in the subprime mortgage crisis that sparked the Great Recession of 2007.
On Tuesday, NYU Professor and prominent cryptocurrency critic Nouriel Roubini penned a column titled “The Great Crypto Heist,” in which he savaged a frequent target, cryptocurrency derivatives platform BitMEX, as both corrupt and crooked.
Calling the cryptocurrency trading business ripe with fraud and manipulation, cryptocurrency data and indices provider CryptoCompare has begun rating the reliability of exchanges.
