BitMEX faces $27 million lawsuit in UK over unauthorized Bitcoin trades

A software engineer in the United Kingdom has filed a lawsuit against HDR Global Trading, the operator of the now-defunct crypto derivatives exchange BitMEX, seeking the return of 324.8 BTC. The case, brought by Lewis Barber in London’s Commercial Court, centers on allegations that BitMEX entered into trades with him without the necessary authorization from the UK Financial Conduct Authority (FCA). Barber’s claim states that between 2018 and 2022, he executed approximately 2,294 trades on BitMEX from five separate accounts, focusing on perpetual swaps, a type of crypto derivative. Out of these transactions, 1,053 resulted in losses.