Alameda Research Sues KuCoin To recover $50M In Locked Assets

The post Alameda Research Sues KuCoin To recover $50M In Locked Assets appeared first on Coinpedia Fintech News

Alameda Research, a subsidiary of the bankrupt FTX, is pursuing legal action against KuCoin to recover over $50 million in locked assets. In an October 28 filing with the U.S. Bankruptcy Court for the District of Delaware, it was noted that these funds have been frozen since FTX’s collapse in November 2022. The filing claims that KuCoin has refused to release the assets despite several communications. The assets were originally valued at $28 million but now exceed $50 million due to market fluctuations.