UK trader sues BitMEX for return of $27M in bitcoin over unlicensed derivatives

A British software engineer, Lewis Barber, is suing BitMEX operator HDR Global Trading in London for the return of 324.8 bitcoin, worth roughly $27.2 million. The software engineer alleges that the shuttered exchange sold him derivatives in the UK without approval from the Financial Conduct Authority (FCA). A British software engineer called Lewis Barber placed about 2,294 trades on BitMEX across five accounts between 2018 and 2022, the Guardian reported, citing the particulars of claim. Barber sued BitMEX over the 1,053 of his trades that lost money.