Former BitMEX Chief Alexander Höptner has sued his former employer for $3.4 million for breach of agreement and wrongful termination. This includes $2.4 million for his second-year bonus and smaller amounts for remaining wages, relocation expenses, and housing.
The claim, filed by Höptner’s legal representatives – Kelvin Chia Partnership – with Singapore’s High Court, alleges BitMEX of conducting a “baseless” internal investigation against him to avoid payment of salaries and bonuses.
“There were no objections and/or concerns raised as to the Claimant’s relocation and/or the costs that was to be incurred by the HDR Group in respect of the same.”
After being brought on board in late 2020, in partnership with my executive team and the board, I developed an aggressive strategy to scale and diversify the company. We were very much on track, which made the actions of the founders even more confusing to me. I honestly think that no matter how well my team and I delivered, the founders would have always found a way to reinsert themselves into the day-to-day operations of the company.
At the direction of the founders and the board, I put my life on hold to relocate multiple times as required by the company. I’m disappointed that it has gotten to the point that legal proceedings are necessary, but I’ve been left with no choice.