BitMEX sued in London over $27.2 million bitcoin claim, faces new legal scrutiny

A British software engineer, Lewis Barber, has filed a lawsuit against HDR Global Trading, the operator of BitMEX, in London’s High Court, demanding the return of 324.8 bitcoin—valued at approximately $27.2 million. Barber accuses the shuttered crypto derivatives exchange of selling him perpetual swap derivatives in the UK without authorization from the Financial Conduct Authority (FCA). Barber reportedly conducted 2,294 trades on BitMEX across five accounts from 2018 to 2022. Of those, 1,053 trades resulted in losses, all involving perpetual swaps, which function like futures contracts but have no expiry date.

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