Binance is no stranger to regulatory heat. But a £150 million lawsuit filed in London’s High Court on June 30, 2026 marks a different kind of reckoning: nearly 1,700 retail investors demanding their money back.
The group action, represented by law firm KP Law, names Binance Holdings Ltd., founder Changpeng Zhao, Nest Exchange, and unidentified additional parties as defendants. The claim is valued at at least £150 million, roughly $200 million, and that figure could climb as individual investors report losses exceeding £100,000 each.
What the lawsuit actually says
The core allegation is straightforward: Binance marketed and sold high-risk crypto derivatives to UK retail customers without authorization from the Financial Conduct Authority, violating the Financial Services and Markets Act 2000.
The products in question include leveraged tokens, options, and futures contracts. The alleged conduct stretches back to late 2019. The FCA formally banned the sale of crypto derivatives to retail customers in January 2021. The lawsuit contends the mis-selling continued even after that ban took effect.
