Massive Bitcoin withdrawals on BitMEX after the CFTC accused it of illegal trading
The amount of bitcoins withdrawn from BitMEX to date represents about 25% of the exchange's total Bitcoin reserves
Following the CFTC's accusation of BitMEX of allowing the illegal trading of cryptocurrencies and other assets, users of the exchange began withdrawing their Bitcoin funds in droves.
Despite BitMEX issuing a statement to reassure its users, immediately after the United States Commodity Futures Trading Commission (CFTC) and the Department of Justice (DOJ) accused it of violating US laws and Allowing illegal trading, investors and clients of the platform began to massively withdraw their funds in Bitcoin (BTC). As shown by Coin Metrics through a post on Twitter, more than 48 thousand BTC were withdrawn from the platform by October 2 since the charges against the exchange were announced.