According to BlockBeats news, on November 11, the bankrupt cryptocurrency exchange FTX's trading subsidiary Alameda Research has filed a lawsuit against Aleksandr Ivanov, the founder of Waves and its affiliated entities, in an attempt to recover at least $90 million.
Alameda stated in a document on Sunday that it seeks to transfer assets worth $90 million owned by the debtors in the Alameda and FTX bankruptcy cases, adding that Alameda had previously deposited these assets on the liquidity platform Vires.Finance operated by Waves.
According to the document, in March 2022, Alameda deposited approximately $80 million in USDT and USDC on Vires, which were allegedly converted into USDN worth approximately $90 million. Vires users were encouraged to deposit assets into Vires via the Waves blockchain to earn rewards or interest and gain governance rights in Vires DAO. Alameda stated: 'While Ivanov promoted Waves and Vires as an opportunity for lenders and other users to earn substantial profits, Ivanov secretly orchestrated a series of transactions that artificially inflated the value of WAVES while siphoning funds from Vires.'
Alameda pointed out that the debtors 'attempted multiple times to regain custody of the frozen assets,' and Ivanov 'agreed to participate in a call with the debtors in January 2023.' However, the document states that Ivanov has since ignored all other efforts by the debtors. In recent days, the FTX bankruptcy estate manager has filed over 20 lawsuits against various entities to recover funds for creditors.