FTX Advisers Sue Bybit for $953 Million

FTX Advisers Sue Bybit for $953 Million



Advisers for the bankrupt cryptocurrency exchange FTX have initiated a legal action against the crypto exchange Bybit, seeking to recover digital and monetary assets valued at $953 million.



According to Bloomberg, these advisers allege that Bybit withdrew these assets just before FTX declared Chapter 11 bankruptcy in November 2022. The lawsuit, filed in a Delaware court on November 10, names Bybit Fintech and its investment arm, Mirana, along with a related crypto trading company, Time Research. It also implicates a senior executive at Mirana and several individuals from Singapore, accusing them of benefiting from or participating in withdrawals now included in the FTX bankruptcy case.



The advisers claim that Mirana leveraged its "VIP" status to expedite the withdrawal of most of its assets from FTX prior to the exchange's


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#Blockchain, #Bybit, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #FTX, #News

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