Bitcoin's exit from the "BitMEX" cryptocurrency trading platform continued on Friday afternoon, as traders continued to withdraw their digital currencies from the world's fifth largest cryptocurrency exchange.
The move comes on the heels of a series of charges brought against the company by federal prosecutors in New York and the Goods and Services Authority (CFTC).
Updated figures from analytics firm Glassnode show that traders pulled nearly double the amount that was revealed earlier yesterday morning.
The total amount that has logged off the platform has reached nearly 40,000 Bitcoin since the charges were announced on Thursday.
This means an exit of nearly $ 420 million from Bitcoin at today's prices.
Glassnode previously announced that about 23,200 Bitcoins ($ 243 million) were withdrawn from the BitMEX platform in one hour, which the data company described as the largest outflow they have seen so far.
https://twitter.com/glassnode/status/1312036016891494408?s=19
According to Glassnode, approximately 170,000 Bitcoins, or $ 1.8 billion, are kept in BitMex wallets.
In addition to all of the above, open positions on Bitcoin futures on BitMEX have fallen by 20%, according to data from Analytics firm Skew, since the indictment was announced.
As a reminder, a list of charges has been brought against the founders of "BitMEX", namely "Hayes", "Benjamin Delo", and "Samuel Reed", in addition to the CEO, "Gregory Dwyer", on charges of violating the banking secrecy law by not implementing appropriate provisions to combat money laundering .
Reed was arrested in the state of Massachusetts.
On Thursday, federal prosecutors in Manhattan accused executives at BitMEX of conspiring to violate banking secrecy by failing to implement an adequate anti-money laundering program.
The CFTC charged in a civil complaint that the "BitMEX" platform was an unregistered trading platform and had also failed to implement anti-money laundering measures.
BitMEX denied the accusations in a blog published on Thursday and pledged to defend strongly against the allegations in court.
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