THE GUARDIAN · 2026-10-13 23:02 UTC

Cryptocurrency exchange founded by Reform donor Ben Delo sued for £20m

BitMEX, founded by Reform donor Ben Delo, is being sued for £20m by Lewis Barber, a software engineer who claims the exchange sold unregulated crypto derivatives to UK investors in breach of FCA rules. Barber alleges he lost £20m in bitcoin between 2018 and 2022 trading BitMEX derivatives, and claims the company conducted promotional campaigns in the UK without FCA authorization despite an FCA warning in March 2020. BitMEX voluntarily closed in September 2026 and faces multiple international lawsuits; Delo pleaded guilty in 2022 to US charges for Bank Secrecy Act violations related to…

Loading the story on Tree News…