FTX Files Lawsuit Against Two Companies for Allegedly Failing To Return Assets as Part of Recovery Program

FTX, a bankrupt crypto exchange, has taken legal action against two companies for allegedly failing to return digital assets owed to them. In a recent statement, FTX announced that they have filed complaints in US bankruptcy court against token issuers NFT Stars Limited and Kurosemi Inc. for not providing FTX with the tokens they are entitled to under their agreements.

FTX emphasized the importance of token and coin issuers returning assets that rightfully belong to them, stating that they are prepared to pursue litigation if necessary. The goal of these legal actions is to recover assets for FTX’s creditors, including demanding the return of tokens that were purchased through Simple Agreements for Future Tokens (SAFTs) by FTX’s affiliated trading firm, Alameda Research, through its venture arm, Alameda Ventures.

The complaints filed by FTX also seek punitive damages from the companies in question. For instance, Alameda Ventures, now known as Maclaurin Investment, is still awaiting the delivery of 831,691 SENATE tokens and 83,169,187 Sidus tokens from NFT Stars Limited, a marketplace for non-fungible tokens (NFTs). Maclaurin had paid $325,000 for the right to receive a total of 1,354,166 SENATE tokens and 135,416,666 SIDUS tokens.

In the case of Kurosemi Inc., the company behind the AI agent platform Delysium, FTX alleges that Maclaurin paid $1 million to receive 75 million Delysium (AGI) tokens upon the token’s launch, but has not yet received any tokens. The lawsuit also suggests that Delysium has no intention of transferring the tokens, as evidenced by a statement made in the Delysium Discord channel.

FTX’s bankruptcy in November 2022 was a result of allegations that its former CEO, Sam Bankman-Fried, mismanaged the exchange’s funds by using customer deposits to loan billions of dollars to Alameda Research. These legal actions against NFT Stars Limited and Kurosemi Inc. are part of FTX’s efforts to recover assets and maximize returns for its creditors.

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This article was generated with the help of Midjourney.