Lewis Barber, a British software engineer, has filed a claim in London’s Commercial Court against HDR Global Trading, the operator of the now-closed crypto derivatives exchange BitMEX. The lawsuit seeks the return of 324.8 BTC, valued at approximately $27 million, alleging that the exchange conducted unauthorized regulated activities in the UK between 2018 and 2022.
The claim challenges 1,053 loss-making perpetual swap trades and accuses BitMEX of deceit for implicitly representing it could lawfully trade with UK residents without Financial Conduct Authority authorization. While the claim has been filed, a BitMEX spokesperson stated that it has not yet been formally served on the company, which ceased operations in September 2026.
Key facts
- The lawsuit was filed in London’s Commercial Court on October 14, 2026.
- Barber is seeking the return of 324.8 BTC, worth about $27 million.
- The claim targets 1,053 perpetual swap trades executed from 2018 to 2022.
- Allegations include trading without FCA authorization and deceit.
- BitMEX shut down its operations on September 23, 2026.
- Lawyers suggest other UK traders may have similar claims totaling hundreds of millions of pounds.
Why it matters
Barber’s law firm, Seladore Legal, states that many other investors are likely in a similar position, with potential total claims reaching hundreds of millions of pounds if other UK-based persons pursue similar legal action based on their specific trading histories.