The former CEO of BitMEX has sued the crypto exchange for wrongful termination and breach of contract.
The lawsuit was filed by Höptner’s legal representatives, Kelvin Chia Partnership, in the General Division of the Supreme Court of the Republic of Singapore against Three Fins Pte Ltd, a Singapore branch of HDR Global Ltd, the Seychelles-registered entity behind Bitmex.
Lawsuit from the Ex-CEO of BitMEX to the Stock Exchange
The recently sacked CEO of crypto exchange BitMEX, Alexander Höptner, has filed a $3.4 million claim against his former employer for wrongful termination and breach of contract.
Höptner, in his filing with the Singapore Supreme Court today, alleges that BitMEX conducted a baseless internal investigation against him to evade paying millions of dollars in salaries and bonuses. This investigation allegedly focused on Höptner’s relocation from Hong Kong to Singapore and later to Germany, and concluded that he had misused company funds to finance the moves. This was the alleged basis for his dismissal in late October.
Höptner’s lawyers call the company’s accusations completely baseless. It also says BitMEX owes Höptner $3.4 million plus compensation. That figure consists of $2.4 million in second anniversary bonuses, salaries, and housing and education allowances.
A BitMEX spokesperson said that they will respond to the allegations made by the former CEO in court. The hearing date is set for January 25.