FTX Cryptocurrency Exchange has submitted lawsuits against NFT Stars Limited and Kurosemi Inc. , Delysium platform operator, as part of its continuous efforts to recover assets for creditors’ payments.
The legal procedures announced by their FTX and Trust in response to the failure of the alleged companies to provide symbols as stipulated in the previous contractual agreements.
FTX begins legal procedures to recover assets
According to the latest press release, the exchange of negotiations of non -fading with both entities tried several times. However, these efforts did not succeed.
In addition to the current legal procedures, FTX revealed that it is also involved with many other symbolic exporters to recover assets. The company added that other lawsuits will be filed against those who fail to cooperate.
“We urge the sources the distinctive and currency symbol to return the assets that are truly belonging to FTX, and we are ready to start litigation in maintaining adequate participation. Our team continues to work tirelessly to increase recovery operations to the maximum extent of FTX,” statement Read.
The lawsuits represented a major escalation in the FTX strategy to restore assets after submitting their bankruptcy in November 2022. The liquidity crisis and the detection of a shortage of $ 8 billion in its accounts led to the collapse of the stock exchange.
On February 18, 2025, FTX started its initial distributions of recovered funds. The initial round of payments for the approved claims in the FTX convenience category was made. FTX also announced that the next distribution record date will be April 11, where payments are expected to start on May 30.
This second round of payments will include claims of customer 5 category, unacceptable public claims of category 6 and additional comfort claims approved since the date of the initial registry. This distribution is part of a broader plan to pay creditors.
Last month, FTX suffered from another setback where the Tree Arrows Capital (3AC) claim was raised from $ 120 million to $ 1.5 billion. Follow the modification new results on the 3AC transactions with FTX. It was approved despite the objections from FTX.
Meanwhile, FTX’s collapse is a reminder of the regular risks in the encryption industry. To avoid similar positions, US Senators suggested the evidence of evidence earlier this month.
The draft law imposes that the exchange of encryption keeps customer money separate from institutional assets. It also requires exchanges to provide monthly audits, called “proving reserves”, which are conducted by the neutral third party companies. This aims to ensure transparency, verify the availability of assets, and enhance consumer protection.
Disintegration
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