BitMEX Sued for £20 Million over Bitcoin Losses
Barber says BitMEX offered unauthorized derivatives to UK customers and seeks the return of Bitcoin lost in trading, with damages that could reach £20 million.
- British software engineer Lewis Barber filed a £20 million High Court claim against HDR Global Trading Limited, the Seychelles-based operator of BitMEX, alleging the company offered unauthorized derivatives trading to United Kingdom customers between 2018 and 2022.
- The lawsuit relies on the Financial Services and Markets Act 2000, arguing contracts offered without Financial Conduct Authority approval are void, citing a March 3, 2020, FCA warning that BitMEX may have traded regulated investments without authorization.
- Barber alleges BitMEX "conducted promotional campaigns on a worldwide basis and did not exclude the United Kingdom from their reach," including an advertisement in The Times, while claiming approximately £20 million in bitcoin losses.
- A BitMEX spokesperson stated, "No such claim has been served on HDR Global Trading Limited," as the Seychelles-based platform voluntarily closed on September 23, 2026, following a strategic review.
- While BitMEX founders Arthur Hayes, Ben Delo, and Samuel Reed were pardoned by President Donald Trump in March 2025 regarding US anti-money-laundering violations, Barber's lawyers suggest this UK case could expose the firm to hundreds of millions of pounds in potential liability.
12 Articles
12 Articles
Bitmex Faces $26 Million Claim Over 1,053 Losing Bitcoin Trades
A British software engineer wants 324.8 BTC back from Bitmex, claiming the cryptocurrency exchange had no legal authority to offer him derivatives trading in the United Kingdom. His demand, worth approximately $26 million using today’s exchange rates, targets more than 1,000 losing trades. British Trader Challenges Four Years of Bitcoin Losses Lewis Barber, a software […]
UK Trader Targets 1,053 Losing BitMEX Trades in £20 Million Claim
BitMEX Trader Seeks 324.8 BTC Back, Leaving Other Trades Untouched Of the roughly 2,294 trades Lewis Barber placed on BitMEX, his lawsuit challenges 1,053. All of them lost money. He wants the exchange’s operator to return the Bitcoin lost on those trades, but is not asking the court to revisit the rest of his trading, according to a claim reviewed by Guardian. Barber, a British software engineer, is seeking 324.8 Bitcoin or damages of equivalen…
BitMEX Faces $27 Million UK Lawsuit Over Unlicensed Derivatives
TL;DR BitMEX is facing a lawsuit in the UK seeking the return of 324.8 BTC, worth approximately $27.2 million. The plaintiff is challenging 1,053 perpetual swap trades executed between 2018 and 2022 and accuses the exchange of offering regulated financial services without a license. Lawyers involved in the case warn that other British traders could ...
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