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Alameda Research, a subsidiary of FTX, is suing KuCoin to recover over 50 million USD in assets that have been frozen since FTX's bankruptcy in November 2022. Initially, these assets were valued at 28 million USD but have increased to 50 million USD due to market growth.
FTX alleges that KuCoin refused to return the assets, violating bankruptcy law and causing harm to creditors. KuCoin stated that it froze the assets due to suspected activity and will comply with the order of the legal authority.
