BitMEX sued for allegedly scamming early-stage investors worth about $ 50 million in stock

An angel investor, Frank Amato, stated that he invested $ 30,000 in BitMEX in 2015, becoming one of the company's first angel investors. BitMEX CEO Arthur Hayes allegedly promised to convert the investment into equity, but that conversion never happened. The investor has sued the exchange for allegedly being defrauded of about $ 50 million worth of stock.