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Binance founder Zhao Changpeng posted that BitMEX was the first to launch 100 times leveraged contract trading in 2014, and adopted mechanisms such as only supporting Bitcoin recharge, single chain operation, daily withdrawal limit, and multi signature wallet management to avoid hacker attacks. The four founders of BitMEX were accused of violating the Bank Secrecy Act, pleaded guilty one month before the trial, and were each fined $10 million and placed under house arrest. No one was sentenced to prison, and the company's business failed to continue under regulatory pressure.