UK Trader Seeks 324.8 Bitcoin From BitMEX

Lewis Barber, a British software engineer, has filed a claim in London’s High Court seeking the return of 324.8 bitcoin, or equivalent damages, over 1,053 losing trades on the BitMEX exchange. He alleges the platform offered regulated derivatives in the United Kingdom without the authorization required by law. The claim’s merits and any recovery have not been decided. The disputed trades were perpetual swaps made between 2018 and 2022 through five accounts, according to the claim. Barber’s trading history included about 2,294 transactions, but his case challenges only the 1,053 that lost money. He is not seeking to unwind his other trades. The claim names HDR Global Trading Limited, the company that operated BitMEX. A BitMEX spokesperson said the company had not been formally served with the proceedings. The case was reported as filed but unserved, and no court ruling or defense response was reported. Barber’s legal argument relies on the Financial Services and Markets Act 2000. He contends that BitMEX conducted regulated financial activity without authorization from the Financial Conduct Authority, making the disputed agreements unenforceable or eligible for restitution.