Bankrupt crypto exchange FTX has filed a lawsuit against bankrupt crypto lender Voyager Digital to recover $446 million in loan repayment that was made by the former before filing for bankruptcy.
According to sources, the insolvent cryptocurrency exchange FTX sued cryptocurrency lender Voyager Digital on Monday in an attempt to recoup $445.8 million in loan repayments that FTX paid before declaring bankruptcy.
According to the court document, FTX said that it had compensated Voyager on behalf of Alameda with payments of $248.8 million in September and $193.9 million in October. In August, FTX also made an interest payment of $3.2 million.
These loan payments, according to FTX’s lawsuit, were made just before the company declared bankruptcy so that they could be recovered and used to settle the debts of other FTX creditors.
In the court document, FTX acknowledged the allegations that Alameda had seized the assets of FTX clients to pay for high-risk borrowings.
Voyager and other cryptocurrency lenders, on the other hand, admitted to being involved in Alameda’s acts, claiming that they “knowingly or negligently” transferred their clients’ money to Alameda.
Prior to FTX’s implosion in November, the intended purchase of the Voyager Digital assets, which was valued at around $1.42 billion, fell through.
Following SBF’s resignation as CEO, FTX and its affiliates filed for bankruptcy on November 11. In its bankruptcy petition, FTX said that due to a serious financial problem, it was necessary to file these lawsuits as soon as possible. Both FTX and Voyager have declared bankruptcy, with FTX doing so in November and Voyager doing so in July.
