FTX bankruptcy advisors sue Bybit to recover assets worth $953 million

ChainCatcher news, according to Bloomberg, FTX bankruptcy advisors have filed a lawsuit against the cryptocurrency exchange platform Bybit Fintech Ltd and its two subsidiaries in Delaware court this Friday, seeking to recover approximately $953 million in cash and crypto assets that were withdrawn from the platform before the FTX collapse.

The lawsuit claims that Bybit's investment division Mirana Corp. had special "VIP" privileges that most FTX customers did not have, and used these privileges to transfer most of its assets off the FTX platform during the collapse. While FTX customers were queuing to withdraw their funds, Mirana pressured FTX employees to fulfill its withdrawal requests.

It is reported that another subsidiary that is also a defendant is Time Research Ltd.