BitMEX operator sued for £20M in UK High Court over crypto derivatives
CIE News ·
A UK retail investor filed a £20 million High Court lawsuit against BitMEX operator HDR Global Trading, alleging unauthorized crypto derivative sales between 2018 and 2022.
A retail investor filed a £20 million High Court lawsuit in London on October 13, 2026, against HDR Global Trading Limited, the owner and operator of BitMEX, according to The Guardian. The claimant, software engineer Lewis Barber, alleges that the exchange unlawfully sold crypto derivative products to UK retail investors between 2018 and 2022 without authorization from the Financial Conduct Authority (FCA).
The claim argues that because the transactions lacked regulatory approval, the contracts are void under the Financial Services and Markets Act 2000, entitling Barber to restitution for lost Bitcoin (BTC). The legal action alleges that BitMEX conducted worldwide promotions that did not exclude the UK, including advertisements placed in The Times.
A spokesperson for BitMEX stated that the claim had not been served on HDR Global Trading Limited. The filing follows BitMEX's voluntary closure on September 23, 2026, which the exchange described as a strategic business review.