FTX sues Bybit and affiliates for $953 million asset recovery.

977Iti · Post time 15-11-2023 12:23:18

FTX's bankruptcy advisor is suing cryptocurrency exchange Bybit Fintech Ltd and two affiliated companies, seeking the recovery of approximately $953 million in cash and digital assets. These assets were withdrawn from SBF's cryptocurrency exchange about a year ago before filing for Chapter 11 bankruptcy under U.S. bankruptcy law. The lawsuit, filed on Friday in a Delaware court, alleges that Bybit's investment arm, Mirana Corp., had special "VIP" privileges not available to most FTX customers and used these privileges to transfer the majority of its assets out of SBF's platform. The bankruptcy lawsuit lists Bybit Fintech Ltd., Mirana, and an affiliated cryptocurrency trading company named Time Research Ltd. as defendants.

Iravan774 · Post time 15-11-2023 17:15:23

The assets are indeed quite substantial.

Niti998 · Post time 15-11-2023 17:21:50

It really has quite significant assets, doesn't it?

Kamal531 · Post time 15-11-2023 17:24:24

This guy can't get away, so what's he still messing around for?

Jafar224 · Post time 16-11-2023 08:28:20

Didn't expect to have to recover such a large amount of funds.