BitMEX Sued in UK for Return of $27M in Bitcoin Over Unlicensed Derivatives

A British software engineer is suing the operator of crypto derivatives exchange BitMEX for the return of 324.8 BTC, alleging it traded with him in the UK without regulatory approval, according to The Guardian and particulars of claim reviewed by Decrypt . The Bitcoin was worth £20.4 million on October 1, the claim says, or about $27.2 million by Decrypt 's calculation using the claim's exchange rates. Lewis Barber, who brought the claim against BitMEX operator HDR Global Trading, entered into around 2,294 trades on the exchange between 2018 and 2022 from five accounts, the claim says.