BitMEX Transfers $337M In Bitcoin After US-Government Charges

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Bitcoin outflows from prominent crypto derivatives exchange BitMEX are already up in the wake of charges from U.S. agencies announced Thursday.

The U.S. Commodity Futures Trading Commission (CFTC) and the acting U.S. Attorney for the Southern District of New York both announced that they are charging BitMEX for facilitating unregistered trading and other illegal transactions.

Since then, more than 32,200 BTC (worth around $337 million) has been moved from BitMEX – 19% of the exchange’s total funds, according to data source Glassnode.

Further, outflows are likely to greatly increase following BitMEX’s daily withdrawal time of 13:00 UTC.

That’s when the exchange process all withdrawal requests lined up since the previous day.