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News Explorer — FTX Sues Former Hong Kong Affiliate Employees

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Sep 22, 11:07 am

Decrypt

FTX Sues Former Hong Kong Affiliate Employees

FTX, the bankrupt crypto exchange, has filed a lawsuit against four former employees of its affiliate, Salameda, accusing them of prioritizing their asset withdrawals during the 90-day period before FTX's bankruptcy filing. The individuals are alleged to have exploited their personal connections to ensure they would be prioritized over other customers. The total value of the suspected illicit transfers is estimated at $157.3 million, with a significant sum withdrawn after November 7, 2022.

FTX, the bankrupt crypto exchange, has filed a lawsuit against four former employees of its affiliate, Salameda, accusing them of prioritizing their asset withdrawals during the 90-day period before FTX's bankruptcy filing. The individuals are alleged to have exploited their personal connections to ensure they would be prioritized over other customers. The total value of the suspected illicit transfers is estimated at $157.3 million, with a significant sum withdrawn after November 7, 2022.

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