According to Foresight News and reported by CryptoSlate, the bankrupt crypto exchange FTX has filed a lawsuit to recover at least $11 million from a Crypto.com account associated with Alameda Research. FTX claims that before filing for bankruptcy, Alameda registered an account on Crypto.com under the name Ka Yu Tin (also known as Nicole Tin), and that the company often opens accounts under the names of shell companies or employees to conceal its trading activities. Alameda funded and controlled this account. After Alameda declared bankruptcy, Crypto.com locked the account and denied FTX administrators' requests for access to the funds, despite their repeated attempts.
FTX stated that Crypto.com’s refusal was based on the mismatch between the name of the account holder and the name of the person seeking to recover the funds. FTX claims it has clarified the complexities of the case to Crypto.com and provided court-approved documents, but reportedly Crypto.com has still not responded.