# BitMEX faces UK claim for return of 324.8 Bitcoin Author: Abdullah Özkurt Language: English Published: 2026-10-15T07:25:48+03:00 Updated: 2026-10-21T14:03:31+03:00 ![A level legal balance with a Bitcoin emblem and paper, representing the BitMEX claim](https://kriptometa.com/uploads/bitmex-e-ingiltere-de-bitcoin-icin-dava-81633c208de6_article.webp) ## Key takeaways - The claim seeks Bitcoin back from 1,053 losing trades. - The FCA’s warning about BitMEX dates to March 2020. - Exchange trading ended on September 23, while withdrawals remain available. Lewis Barber has sued BitMEX operator HDR Global Trading over trades made between 2018 and 2022. He alleges the exchange offered regulated derivatives in the UK without the required authorization. HDR Global Trading, the operator of [crypto derivatives exchange](https://kriptometa.com/en/best-crypto-exchanges) BitMEX, faces a UK claim seeking the return of 324.8 [Bitcoin](https://kriptometa.com/en/glossary/bitcoin). [According to Decrypt’s October 14 report on the particulars of claim](https://decrypt.co/380904/bitmex-sued-in-uk-for-return-of-27m-in-bitcoin-over-unlicensed-derivatives), software engineer Lewis Barber is challenging 1,053 losing trades made between 2018 and 2022. The claim’s £20.4 million valuation is dated October 1. Barber alleges the perpetual derivatives were offered in the UK without the required regulatory authorization. He argues that the Financial Services and Markets Act 2000 makes those contracts unenforceable against him and allows recovery of the Bitcoin lost. BitMEX told the press that HDR Global Trading had not yet been formally served. ## The FCA warning dates to March 2020 The Financial Conduct Authority’s [BitMEX warning, published on March 20, 2020](https://www.fca.org.uk/news/warnings/bitmex), states that the firm was unauthorized and targeting people in the UK. The entry identifies bitmex.com and the exchange’s support email address. The warning also says customers would not have access to the Financial Ombudsman Service or protection under the Financial Services Compensation Scheme. ## Other users’ trades will be assessed individually Barber’s law firm, [Seladore Legal, confirms on its claim information page](https://seladorelegal.com/crypto-derivatives-claim-info/) that proceedings have begun for a client. It is also reviewing potential claims from people who were UK residents when they traded futures, perpetual swaps or similar leveraged crypto products on BitMEX. The firm says the relevant factors include the products traded, the timing and the user’s circumstances. It may request supporting material such as [trading records](https://kriptometa.com/en/organize-crypto-transaction-records). Using the same exchange does not establish that every customer has an identical claim or entitlement to compensation. **A filed claim is not a repayment order.** Registering interest with Seladore does not commit someone to litigation; the firm assesses each person’s circumstances separately. ## Trading ended in September; withdrawals remain open BitMEX’s [September 23 closure notice](https://www.bitmex.com/blog/bitmex-closure-live/) says trading, deposits and new positions ended, while account access and withdrawals of available balances remained open. Withdrawing an existing balance and seeking past trading losses through litigation are separate processes. The exchange had announced the September 23 shutdown two months earlier, in its official X post dated July 23. [BitMEX’s closure announcement dated July 23, 2026](https://x.com/BitMEX/status/2080201602456301580)