OKX, the
second-biggest crypto trading platform by trading volumes, has recently
announced that it is preparing to transfer $157 million in frozen assets linked
to the creditors of FTX and Alameda Research, companies of Sam Bankman-Fried’s
(SBF) fallen empire. This is a response to the newest motion filed on Wednesday
in the FTX bankruptcy claim.
Following
the downfall of FTX in November 2022, OKX took the initiative to conduct
thorough investigations regarding any potential FTX-related transactions that
might have taken place on its platform. These investigations led to the
discovery of accounts and assets linked to FTX and Alameda Research, which OKX
promptly froze to secure the associated funds.
“OKX
welcomes the motion and will continue to cooperate with the FTX debtors and law
enforcement officials in the hope that these assets will eventually be returned
to FTX users through the bankruptcy process,” OKX stated in the press
release.
For #OKX, doing right by crypto traders & the industry is always a top priority.
We did a proactive investigation when FTX collapsed and froze all associated assets & accounts.
Today, we are turning over USD157 MN in frozen FTX & Alameda-related assets.
Details ↓
— OKX (@okx) March 29, 2023
FTX was one
of the most prominent cryptocurrency exchanges, ranking among the top 10
platforms in terms of turnover. However, November brought a massive selloff of the
platform’s…
