BitMEX facing UK lawsuit for $27M in Bitcoin recovery over unlicensed derivatives trading and alleged deceit spanning 2018–2022.
DeFi & Yields ·
A UK software engineer is suing BitMEX operator HDR Global Trading for return of 324.8 BTC, valued at approximately $27.2 million, claiming the exchange conducted unregulated derivatives trading without Financial Conduct Authority authorization between 2018 and 2022. The claim targets 1,053 loss-making perpetual swap trades from roughly 2,294 total transactions across five accounts and includes allegations that BitMEX engaged in deceit by implicitly representing it could lawfully trade with UK-based customers while lacking required regulatory approval. BitMEX's legal team said the claim has not yet been formally served, and lawyers representing the plaintiff indicated that other UK traders may hold comparable claims potentially totaling hundreds of millions of pounds.