BitMEX Sued in UK for Return of $27M in Bitcoin Over Unlicensed Derivatives

BitMEX is being sued in the UK for the return of $27 million in Bitcoin. The lawsuit alleges that the platform operated unlicensed derivatives trading, specifically challenging 1,053 perpetual swap trades conducted between 2018 and 2022, which resulted in losses for the claimant. Additionally, the legal claim accuses the now-closed exchange of deceit in its handling of these derivatives products. The core issue revolves around the legality of BitMEX's operations and its offering of Bitcoin-based derivatives within the UK regulatory framework during the specified period.