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. Lewis Barber, a software engineer from Chelford, Cheshire, has reportedly filed a High Court claim in London against HDR Global Trading Limited, the Seychelles-incorporated company behind Bitmex. The Guardian and The Mirror reported on the proceedings, which challenge the legality of derivatives transactions conducted between 2018 and 2022.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Bitcoin.com News.