UK Engineer Sues BitMEX Operator for Return of 324.8 BTC in Unauthorized Derivatives Trading

Lewis Barber, a UK software engineer, is suing BitMEX operator HDR Global Trading in London's Commercial Court seeking the return of 324.8 BTC, valued at £20.4 million on October 1, or about $27.2 million. Barber alleges BitMEX traded with him without authorization from the Financial Conduct Authority (FCA), as all 2,294 perpetual swap trades between 2018 and 2022 constituted a regulated activity in the UK. The claim notes BitMEX did not restrict UK access and cited a March 2020 FCA warning, and Barber also claims damages for deceit. BitMEX shut down in the UK on September 23, and other UK traders may have similar claims potentially amounting to hundreds of millions of pounds.