BitMEX faces £20 million lawsuit over alleged illegal crypto-derivative sales in the UK
Software engineer Lewis Barber has filed a high-court claim seeking £20 million from BitMEX, alleging the exchange sold unregulated crypto-derivative contracts to UK investors.
Lewis Barber, a software engineer, has lodged a claim in the high court demanding £20 million from BitMEX, accusing the exchange of marketing crypto-derivative contracts to UK customers without the required FCA licence. The lawsuit targets HDR Global Trading Limited, the entity that runs BitMEX, which ceased operations after a strategic review in September 2026. Barber alleges losses of bitcoin valued at £20 million from 2018-2022, arguing that the contracts are void under the Financial Services and Markets Act 2000 and that investors are entitled to restitution.
His legal team cites a Times ad from January 2019 and an FCA warning from March 2020 as evidence of the exchange’s UK outreach. While the claim remains unserved, lawyers suggest the case may set a precedent for other UK investors who purchased similar products. BitMEX has denied that any claim has been served, and the company is also facing separate lawsuits in New York and scrutiny over past anti-money-laundering violations.
Why it matters
The case could determine whether UK investors can recover losses from unregulated crypto-derivative trading.
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