ChainCatcher report: According to The Guardian, former BitMEX investor Lewis Barber has filed a lawsuit in the UK High Court, seeking £20 million in damages, alleging that the exchange provided cryptocurrency derivatives to UK investors without authorization from the UK Financial Conduct Authority (FCA). Barber claims he traded BitMEX derivatives between 2018 and 2022, resulting in losses of approximately £20 million worth of Bitcoin, and is now demanding the return of the relevant Bitcoin or equivalent compensation.
Former BitMEX Investor Sues for £20 Million Over Unregulated UK Derivatives
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Summary
A former BitMEX investor has sued the exchange in the UK High Court, seeking £20 million in compensation. Lewis Barber claims he lost £20 million trading bitcoin on the platform between 2018 and 2022. He alleges that BitMEX offered unregulated derivatives to UK users without authorization from the FCA. The case raises concerns related to CFT and highlights the need for stronger oversight in liquidity and crypto markets.
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