Former BitMEX investor Lewis Barber has filed a lawsuit in the UK High Court seeking £20 million, according to The Guardian. Barber alleges that BitMEX offered cryptocurrency derivatives to UK investors without authorization from the Financial Conduct Authority, or FCA. He said he traded derivatives offered by the exchange between 2018 and 2022 and lost bitcoin worth about £20 million as a result. In the claim, Barber is asking for the return of the bitcoin in question or compensation of equal value. The case centers on whether the exchange provided those products to UK investors without the required FCA approval. The filing places BitMEX under fresh legal scrutiny in the UK over its derivatives business and the way those products were made available to local users during the period cited in the lawsuit.
Former BitMEX investor Lewis Barber has filed a lawsuit in the UK High Court seeking £20 million, according to The Guardian. He alleges that the exchange offered cryptocurrency derivatives to UK investors without authorization from the Financial Conduct Authority (FCA).
Barber said he traded derivatives offered by BitMEX between 2018 and 2022 and lost bitcoin worth about £20 million as a result. He is asking the court to order the return of the bitcoin involved or award compensation of equal value.
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