According to Decrypt, the UK’s Financial Conduct Authority (FCA) has launched legal proceedings against the now-closed exchange BitMEX, seeking the return of approximately $27 million in Bitcoin. The claim alleges that BitMEX conducted derivative activities without the required regulatory authorization.
The lawsuit references 1,053 loss‑making perpetual swap trades executed between 2018 and 2022. It also accuses BitMEX of misleading conduct.
If the court grants the FCA’s request, the exchange would be obliged to repatriate the Bitcoin tied to the cited trades. The outcome could set a precedent for how unlicensed derivative offerings are treated under UK regulation.
