FTX Sues Over Missing Cryptocurrency Assets in Bankruptcy

Cryptocurrency exchange FTX has filed lawsuits against two companies, NFT Stars Limited and Kurosemi Inc., alleging they failed to deliver cryptocurrency assets as per contractual agreements, impacting efforts to recover funds for their creditors. The legal action follows FTX’s bankruptcy filing last year following allegations of mismanaging customer deposits. Read more about this on COINTURK NEWS. The lawsuits demand the return of tokens acquired by Alameda Research, a subsidiary of FTX, under a SAFT agreement, and aim to secure restitution for these assets along with punitive damages if non-compliance persists. FTX’s legal action also targets Kurosemi Inc. over unresolved Delysium token distribution issues stemming from Maclaurin Investment’s purchase, which remains unfulfilled. FTX emphasizes its commitment to recovering asset ownership through communication efforts, while acknowledging the impact of the case on market regulations and asset recovery strategies.