FTX Sues LayerZero Labs to Recoup $21 Million Transferred Days Before Bankruptcy Filing

FTX is suing LayerZero Labs to recover over $21M that was transferred days before FTX's bankruptcy filing.
FTX alleges LayerZero exploited Alameda Ventures during a liquidity crisis and negotiated a "fire-sale transaction".
FTX seeks cancellation of agreements made before the collapse and return of funds withdrawn.
Lawsuit traces back to Jan-May 2022 deals between Alameda Ventures and LayerZero.
FTX previously sued other companies to recoup billions in funds from pre-collapse transactions.

cointelegraph.com

Relevant topic timeline:

9/10/2023

FTX Liquidation of $3.4B in Crypto Assets Sparks Fears of Market Impacts

Cryptocurrency exchange FTX is expected to receive court approval to liquidate $3.4 billion in cryptocurrencies, causing concern among stakeholders and potentially impacting Ethereum, Solana, and altcoins.

9/17/2023

FTX Restores Customer Claims Portal with New Security after Cyberattack, Over 36K Claims Worth $16B Filed So Far

Bankrupt cryptocurrency exchange FTX has reopened its customer claims portal with enhanced security measures, allowing claimants to submit claims for their assets held on the exchange before it went insolvent. The breach did not affect account passwords or funds, and the claims portal is available to users of various FTX platforms. The Delaware Bankruptcy Court has also granted approval for the sale of FTX's digital assets, with certain restrictions.

9/17/2023

NFL's Trevor Lawrence Among YouTube Stars Settling FTX Promotion Lawsuits

Trevor Lawrence, Tom Nash, and Kevin Paffrath have settled lawsuits related to sponsorship deals with FTX, a failed crypto-exchange, before its collapse, with the terms remaining undisclosed.

9/19/2023

FTX Sues Sam Bankman-Fried's Parents for Allegedly Misusing Millions in Company Funds

Crypto exchange FTX has filed a lawsuit against the parents of its founder and former CEO, Sam Bankman-Fried, seeking to recover millions of dollars in fraudulently transferred funds and alleging misappropriation and malicious conduct. The filing accuses Bankman's parents of using their expertise in law to enrich themselves and divert funds from FTX, and also claims that Bankman attempted to sell the exchange to Binance. Bankman-Fried is currently in jail awaiting trial, and his parents have not responded to the lawsuit.

9/19/2023

Stanford to Return FTX Donations Amid Lawsuit Against Founder's Parents

Stanford University has decided to return gifts it received from FTX, a bankrupt crypto exchange, following a lawsuit against the exchange's founder's parents, who are accused of funneling millions of dollars to Stanford.

9/22/2023

Crypto Markets Mixed as Bitcoin Slips, Top Performers Rise and FTX Sues Former Employees

Bitcoin traded slightly downward, Toncoin and Chainlink's LINK token were top performers, FTX sued former employees to recover $157.3 million, and Binance and Zhao filed to dismiss a SEC lawsuit in Thursday's cryptocurrency news.

Topics

Posted 9/10/2023, 7:14:55 PM

FTX Sues LayerZero Labs to Recoup $21 Million Transferred Days Before Bankruptcy Filing

FTX is suing LayerZero Labs to recover over $21M that was transferred days before FTX's bankruptcy filing.
FTX alleges LayerZero exploited Alameda Ventures during a liquidity crisis and negotiated a "fire-sale transaction".
FTX seeks cancellation of agreements made before the collapse and return of funds withdrawn.
Lawsuit traces back to Jan-May 2022 deals between Alameda Ventures and LayerZero.
FTX previously sued other companies to recoup billions in funds from pre-collapse transactions.

cointelegraph.com

Relevant topic timeline:

9/10/2023

FTX Liquidation of $3.4B in Crypto Assets Sparks Fears of Market Impacts

9/17/2023

FTX Restores Customer Claims Portal with New Security after Cyberattack, Over 36K Claims Worth $16B Filed So Far

9/17/2023

NFL's Trevor Lawrence Among YouTube Stars Settling FTX Promotion Lawsuits

Trevor Lawrence, Tom Nash, and Kevin Paffrath have settled lawsuits related to sponsorship deals with FTX, a failed crypto-exchange, before its collapse, with the terms remaining undisclosed.

9/19/2023

FTX Sues Sam Bankman-Fried's Parents for Allegedly Misusing Millions in Company Funds

9/19/2023

Stanford to Return FTX Donations Amid Lawsuit Against Founder's Parents

9/22/2023

Crypto Markets Mixed as Bitcoin Slips, Top Performers Rise and FTX Sues Former Employees