Story from 2020, is bitmex safe or nah?

First off, as a trader I gotta and genuinely love going back over my trades and events in hindsight so this topic I wanna dig into rn is interesting to me.

Second, to keep it objective, I'm not gonna throw in my own opinion just facts nothing more.

Genuinely curious how people who were around in 2020 think about this now.

honestly looking back at the whole "bitmex scam" framing from that era the real case was pretty specific. cftc went after them for running a derivatives platform without proper us registration and aml controls ended up settling for around $100m in 2021.

not great, obviously.

But what's kinda interesting from a few years out is how much that case ended up shaping the rest of the industry. kyc requirements that everyone takes for granted now on binance, bybit, okx got noticeably stricter in the years after. bitmex wasn't the only catalyst but the case definitely set the tone.

They implemented kyc, paid the fine, kept running. no withdrawal pause, no customer funds lost. which is more than you can say for half the exchanges that were operating in 2020 lol.

And if you compare that to the bybit 2025 case and their "North Korea" hack, how much do these incidents actually shift peoples opinions on the platform, do they even shift them at all?

thats what I'm curious about.

for anyone who was actually trading derivatives back then has your read on this changed with time, or you still feel the same way you did in 2020?