Seeking Other Victims of Defunct BKEX Exchange for Legal Action in NY

I got hit hard by BKEX too, they went under in 2023. My losses are beyond $8 million right now. Been gathering evidence and just filed a lawsuit in the Southern District of New York. The CEO, JM, has lawyers now and responded to the claims. Anyone else in the US want to team up for this?

Heard about BKEX shutting down but didn’t pay attention until now. They said something about freezing withdrawals for an investigation into money laundering or something like that. What's the latest on those frozen funds?

Yeah, they announced they were freezing stuff for legal reasons. Sounded all nice and friendly, but no one got their money back. They also have lawsuits in other countries. Like, China accused them of gambling violations because they allowed these huge use bets. And Singapore flagged them for not being transparent. To the OP, take this seriously, there’s a chance to win.

I’ve never even heard of BKEX. Can’t estimate losses when the exchange has been gone for years... If MT. GOX could fetch a decent amount for investors, is there really hope to recover assets from BKEX?

8 million is a massive loss, for real. That’s got to mean something serious. Hope you can find other victims so it can turn into a class action. But man, that’s gonna be tough. Kinda weird to keep so much money on a custodial platform, but I guess everyone learns the hard way.

Sorry to hear about your losses. But I just don’t get how you’d trust an exchange you never heard of before. BKEX wasn’t even licensed anywhere, just registered in the BVI. No real oversight means no safety for users.

I keep seeing complaints about BKEX and those awful withdrawal issues... It really sucks for everyone involved. I’m not in the US, but I wish you all could recover your money. Just gotta be careful with these sketchy exchanges in the future. Don’t fall for their shiny promises.

Right on. The company was dissolved and it’s messy. No bankruptcy, no liquidation; blockchain stuff shows an insider probably kept the funds. They kept their treasury on Binance, deleted records, then closed accounts. Super shady.

Thanks for that insight. Looks like the only way the CEO dodges liability is if they get the case thrown out due to jurisdiction issues. More US claimants can help with that.

Wow, that's a ton of money. So is this an individual loss or a group thing? Just curious because if I were in your shoes, I’d be wary about sharing personal info or paying fees without confirming everything first.

You don’t need to reach out to me directly. The case files are public and you can find the lawyer’s contact info online. Just a heads up, a victim from California is now part of the case. Hoping that helps with those jurisdiction challenges.

I read up on it too, not sure how a US victim helps with jurisdiction since BKEX is based in the BVI. You really think more US victims would give the court reason to pursue BKEX even as an offshore exchange?

The lawsuit is long and lays out how BKEX actively targeted the US market and investors. One key issue is proving domestic transactions. A US co-plaintiff would help with that.

Yeah, I totally get that jurisdiction can get tricky and it's like a legal maze out there. But it seems like BKEX might’ve thought people would get overwhelmed by the complexity. Good on you for pushing through despite that!

I hope more US claimants step up to make it a class action against BKEX. You guys deserve justice. Just know that legal processes can be slow and costly, so keep us posted on how things progress!