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CryptoIntelligence 2024-10-29 19:24:00

FTX Subsidiary Files Lawsuit Against KuCoin to Reclaim $50 Million

Alameda Research, a subsidiary of the bankrupt crypto exchange FTX, has filed a lawsuit against KuCoin to reclaim over $50 million in assets currently locked on the platform. In an Oct. 28 filing with the United States Bankruptcy Court for the District of Delaware, handling FTX’s Chapter 11 case, Alameda stated that the funds were initially frozen by KuCoin following FTX’s collapse in November 2022. Although the assets were originally valued at $28 million, their worth has risen to over $50 million due to market fluctuations. According to the filing, “KuCoin has without justification refused to turn over the assets

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