UK Investor Sues BitMEX Operator for £20 Million Over Unlicensed Derivatives Trades

Cryptocurrency exchange operator HDR Global Trading Limited faces a London legal claim seeking the return of approximately £20 million, or 324.8 Bitcoin, over unauthorized derivatives trades. British software engineer Lewis Barber filed the suit under the Financial Services and Markets Act 2000, arguing that 1,053 losing perpetual swap trades conducted between 2018 and 2022 are void because BitMEX lacked UK Financial Conduct Authority authorization. The litigation follows BitMEX halting trading operations on September 23, 2026. The exchange stated the claim has not yet been formally served on HDR Global Trading Limited.