NewsMV
A group of UK crypto investors has launched a $200 million legal action against Binance and its founder Changpeng Zhao, alleging losses from the exchange's derivatives products before restrictions were imposed on the platform.
One named claimant said he lost the equivalent of more than $132,000 through those derivatives offerings. The case puts Zhao and the world's largest crypto exchange by volume squarely in the crosshairs of UK courts.
What the Claimants Are Alleging The suit targets both the exchange itself and Zhao personally, a structure that signals the plaintiffs intend to pierce the corporate entity and hold its founder directly accountable.
The core allegation ties to Binance's derivatives business — products that allow traders to bet on price direction with amplified exposure — which UK regulators moved to restrict.
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