🚀 FTX Estate Sues KuCoin to Recover Over $50 Million in Locked Assets
#FTX #KuCoin #AlamedaResearch #cryptocurrency #assets #lawsuit #bankruptcy #digitalassets #creditorrecovery #BITtokens
According to Cointelegraph: The FTX estate, through its subsidiary Alameda Research, has taken legal action against crypto exchange KuCoin, aiming to recover assets now worth over $50 million. These assets were initially valued at $28 million but have appreciated due to market fluctuations. KuCoin has reportedly held these funds in a frozen state since FTX’s collapse in November 2022, according to a court filing on Oct. 28 in the United States Bankruptcy Court for the District of Delaware.Despite repeated requests, KuCoin has allegedly refused to release the assets, leading Alameda to claim a violation of the Bankruptcy Code. The estate is seeking the return of the funds as well as potential damages for delays, to reallocate these assets toward creditor repayment.This lawsuit follows a similar case where the FTX estate settled with Bybit, allowing for the withdrawal of $175 million in digital assets and the sale of $53 million in BIT tokens, adding $228 million to FTX’s repayment efforts.#FTX #KuCoin #AlamedaResearch #cryptocurrency #assets #lawsuit #bankruptcy #digitalassets #creditorrecovery #BITtokens
🚀 HashDit Reports Security Breach Affecting AIO Tokens
#HashDit #SecurityBreach #AIO #AIOtokens #Multisig #Onchain #KuCoin #Bitget #Web3 #CryptoSecurity #CryptoNews #Hacked #BlockchainSecurity
The Web3 security firm HashDit stated on X, “We have detected that @olaxbt has been compromised, multiple $AIO tokens have been drained from the multisig wallets, sold onchain and sent to @kucoincom and @bitgetglobal for at least $2 million.”#HashDit #SecurityBreach #AIO #AIOtokens #Multisig #Onchain #KuCoin #Bitget #Web3 #CryptoSecurity #CryptoNews #Hacked #BlockchainSecurity