Mt. Gox-linked Bitcoin (BTC) wallets moved roughly 10,600 BTC on Nov. 17, breaking an eight-month silence that had lulled merchants into forgetting the property nonetheless managed almost $3 billion in legacy cash. The transaction routed about 10,608 BTC to a brand new, unlabeled deal with, with the rest returning to a identified Mt. Gox pockets….
Sam Bankman-Fried is once more difficult the core narrative of his downfall: that FTX was bancrupt when it collapsed in November 2022. In a 15-page report written from prison and dated Sept. 30, the convicted founder claimed the trade “was by no means bancrupt” however merely trapped in a “liquidity disaster” after customers pulled $5…
Mt. Gox simply pushed its compensation deadline once more from this Friday to Oct. 31, 2026, with court docket approval. The one-year extension, successfully diffuses near-term sell pressure, turning what may have been a pointy provide occasion into one other drawn-out administrative cycle. Much like prior phases, repayments are anticipated to filter by way of…
Creditors of the collapsed crypto change FTX are going through another spherical of fraud, this time by way of a faux airdrop scheme. Sunil Kavuri, a well-liked FTX creditor advocate, warned on Sept. 24 that group members are being targeted with phishing emails exploiting info stolen within the Kroll knowledge breach. Kavuri shared a screenshot…
FTX Recovery Trust sued Bitcoin mining firm Genesis Digital Assets, searching for to recover $1.15 billion in allegedly fraudulent transfers made by the co-founder of the fallen trade, Sam Bankman-Fried. As Bloomberg Law reported on Sept. 23, the belief filed the lawsuit on Sept. 22 in the US Bankruptcy Court for the District of Delaware….
FTX creditors will receive $1.6 billion on Sept. 30 in the third main distribution for the reason that alternate’s 2022 collapse, bringing some clients to 95% cumulative restoration charges. According to the FTX Recovery Trust’s Sept. 19 announcement, creditors should full a number of verification steps by way of the FTX Customer Portal earlier than…
FTX collectors have launched a category motion lawsuit in opposition to Kroll Restructuring Administration, the agency managing claims for the bankrupt crypto alternate. The swimsuit, filed on Aug. 20 by US-based Corridor Attorneys, alleged that Kroll’s dealing with of claims for FTX, BlockFi, and Genesis clients induced monetary hurt and uncovered delicate data to cybercriminals….