BitMEX Operator Faces Claim for 324.8 BTC Over UK Derivatives Trades

A British software engineer is seeking 324.8 Bitcoin (BTC) from BitMEX’s operator, arguing that the exchange offered derivatives without authorization and that his losing trades should be recoverable. Lewis Barber alleges he made about 2,294 trades across five accounts from 2018 through 2022. His claim seeks recovery tied to 1,053 losing perpetual swaps, derivative contracts with no fixed expiration date. The trade counts add detail to earlier coverage of the lawsuit . The requested amount was valued at about $26.5 million on Oct. 14. Barber contends the contracts involved regulated financial activity and that BitMEX lacked authorization from the Financial Conduct Authority (FCA), Britain’s financial regulator. He relies on Section 26 of the Financial Services and Markets Act 2000.

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