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FTX sues KuCoin to recover $50 million in withheld assets – TON BOT

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FTX sues KuCoin to recover $50 million in withheld assets

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Bankrupt crypto exchange FTX is suing KuCoin to recover over $50 million in assets allegedly withheld from the now-defunct Alameda Research. KuCoin locked access to the assets, valued at $30 million, after bankruptcy proceedings began. Despite repeated requests, KuCoin has refused to release the assets, which have now grown to over $50 million. FTX aims to secure the return of these assets to support asset recovery for creditors and users. This follows FTX’s recent settlement with Bybit and aligns with its strategy to wind down operations and distribute assets. Earlier this month, FTX received court approval for a reorganization plan to return at least $12.6 billion to customers with frozen digital assets.

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