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Sk_ypopular 🎩
@skypopular
⏺Alameda Research has filed a lawsuit against KuCoin to recover more than $50 million in assets that were frozen following FTX's collapse in 2022. Initially valued at $28 million, the assets have since appreciated as the market recovers. Alameda claims that these assets "belong to FTX and should be returned to creditors to help settle debts" and is also seeking compensation for delays. KuCoin explains the freeze as a response to suspicious activity, noting unsuccessful attempts to reach account owners and that it is following law enforcement guidelines.
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