Odaily News According to the FTX lawsuit documents, Meerun is a complex and well-organized criminal who has defrauded FTX by manipulating tokens such as BTMX since 2021, causing a cumulative loss of more than $1 billion. Its methods include manipulating token prices to increase the value of collateral, exploiting loopholes in the FTX margin system to obtain funds, and evading monitoring through false KYC materials and multiple associated accounts. The FTX team attempted to freeze Meerun's account, but failed to prevent its withdrawal in time, resulting in its successful cashing out of $450 million. In addition, Meerun is also suspected of manipulating other tokens such as MOB, BAO, and SXP, taking advantage of the lack of market liquidity to obtain huge profits. The documents further pointed out that Meerun has close ties with organized crime networks in Poland, Romania, and Ukraine that are involved in human trafficking and terrorist financing.