CoinVoice has recently learned that according to court documents filed on October 28, FTX has filed a lawsuit to recover more than $50 million in assets allegedly withheld by KuCoin.
The assets were held in a KuCoin account belonging to the now-defunct Alameda Research, which filed for Chapter 11 bankruptcy in November 2022.
FTX claims in the lawsuit that KuCoin locked access to the unnamed assets shortly after bankruptcy proceedings began. At the time, the account held assets worth approximately $30 million, making it impossible for the bankrupt company's management team to access them. FTX points out that KuCoin refused to release the assets, which have now grown in value to more than $50 million. [Original link]