FTX Files a Lawsuit Against Bybit
Main page News, Cryptocurrency Exchanges, FTX

Bankrupt US crypto exchange FTX has filed a lawsuit against Bybit demanding the platform to return around $953 million in digital assets withdrawn shortly before FTX's collapse.

The plaintiffs also include West Realm Shires Services and Alameda Research.

According to the complaint, Mirana, Bybit's investment unit, enjoyed a number of privileges that most FTX clients did not have. The company allegedly took advantage of them to withdraw funds from the exchange.

The plaintiffs claim Mirana pressured FTX employees to speed up the processing of withdrawal requests at a time when users were forced to wait several hours.

Bybit withdrew about $327 million in cryptos from FTX between November 7 and 8, 2022, when the withdrawal of funds had already been suspended.

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