FTX, the bankrupt crypto exchange, has filed a lawsuit against LayerZero Labs, seeking to recover $21 million in allegedly illegally withdrawn funds. The case involves transactions between Alameda Ventures and LayerZero, including the acquisition of a stake and the purchase of STG tokens. FTX alleges that LayerZero took advantage of Alameda Ventures during a liquidity crisis. The lawsuit also seeks the recovery of funds from LayerZero Labs, its former COO, and a subsidiary.
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FTX Sues LayerZero Labs to Recover $21 Million
FTX, the bankrupt crypto exchange, has filed a lawsuit against LayerZero Labs, seeking to recover $21 million in allegedly illegally withdrawn funds. The case involves transactions between Alameda Ventures and LayerZero, including the acquisition of a stake and the purchase of STG tokens. FTX alleges that LayerZero took advantage of Alameda Ventures during a liquidity crisis. The lawsuit also seeks the recovery of funds from LayerZero Labs, its former COO, and a subsidiary.