FTX bankruptcy advisor sues Bybit to recover $953 million in assets

Odaily News FTX bankruptcy advisor has sued cryptocurrency trading platform Bybit Fintech Ltd and two of its subsidiaries in a Delaware court on Friday, seeking to recover approximately US$953 million worth of cash and crypto assets that were previously traded on FTX Evacuate the platform before it collapses. The lawsuit alleges that Mirana Corp., Bybit’s investment arm, had special VIP benefits that most FTX customers did not have and used these privileges to move most of its assets off FTX’s platform when FTX collapsed. While FTX customers were queuing up to withdraw money, Mirana pressured FTX employees to fulfill their withdrawal requests. Another affiliated company that is also a defendant is Time Research Ltd.