Even after the FTX collapse, the exchange isn’t stepping out of the spotlight. In the latest FTX News update, the bankrupt crypto exchange has launched a legal offensive to recover assets in a fresh effort to speed up FTX repayments.
According to a new press release on PR Newswire, FTX has filed lawsuits against NFT Stars Limited and KUROSEMI INC., the company behind Delysium. FTX claims these firms failed to deliver specific tokens that rightfully belong to its estate, even after multiple reminders and negotiation attempts.
With out-of-court talks failing, FTX is now seeking court orders to force the return of the disputed assets.
The legal push may just be getting started. FTX has warned that more lawsuits are coming, targeting other token and coin issuers who are allegedly holding onto assets. The exchange is actively reaching out, but if companies fail to cooperate, they can expect swift legal action.
The message is loud and clear: hand over the assets or prepare for a courtroom battle.
On the other side, Crypto analyst Eva Lenoir throws shade at FTX’s legal move, sarcastically calling it a “sheriff” act. She questions where this energy was when Sam Bankman-Fried was mishandling users’ funds, suggesting the lawsuits against NFT Stars and Delysium come far too late to matter.
Moreover, she also believes that the real losers are small investors who’ll bear the cost. She contrasts the chaos with Bitcoin, calling it strong, unshaken, and still shining.
The FTX legal team emphasized that every asset recovery counts. Returning these tokens could significantly boost the funds available for FTX repayments to creditors who are still awaiting compensation after the exchange’s catastrophic collapse.
While FTX says it prefers to resolve matters amicably, it has made it clear it will not hesitate to pursue aggressive legal remedies if needed.
In its mission to maximize FTX repayments, the collapsed exchange is taking no prisoners. Lawsuits are now firmly on the table, and more companies could soon find themselves in FTX’s crosshairs.
FTX collapsed in November 2022 after it was revealed that the company misused customer funds and faced a massive liquidity crisis. This led to bankruptcy, legal investigations, and major losses for users and investors.
FTX lawsuits aim to recover missing crypto assets from companies and individuals. These recovered assets will directly contribute to increasing the FTX repayment pool for creditors.
The FTX collapse was caused by alleged fraudulent practices, poor financial management, and misuse of customer deposits. When these issues came to light, users rushed to withdraw funds, exposing the company’s insolvency.
FTX claims that these companies failed to deliver tokens that were supposed to be transferred to its estate. After unsuccessful attempts to settle the matter outside of court, FTX is now pursuing legal action to recover these assets.
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