Source: Cointelegraph
Original: “FTX Sues NFT Stars and Kurosemi to Recover Token Assets”
The bankrupt cryptocurrency exchange FTX has recently filed a lawsuit against the non-fungible token (NFT) trading platform NFT Stars and the blockchain gaming company Kurosemi (operating under the name Delysium), accusing them of failing to return owed tokens.
Both lawsuits were submitted to the Delaware bankruptcy court, alleging that NFT Stars and Delysium have not delivered the full amount of tokens for which FTX has already paid, despite multiple negotiations.
In a statement on April 28, FTX stated that it has made "multiple attempts to communicate without response" and will "contact other token issuers to recover FTX assets, and file more lawsuits against uncooperative parties."
The bankrupt cryptocurrency exchange FTX has filed a lawsuit against the NFT trading platform NFT Stars and the blockchain gaming company Kurosemi (operating Delysium), accusing them of failing to return owed tokens.
In the lawsuit against Delysium, FTX claims that its closed trading division Alameda Research paid $1 million in January 2022 to purchase 75 million AGI tokens from the gaming company. FTX stated that the original token issuance date was set for April 2023, and the tokens purchased by Alameda Research were scheduled to have 20% unlocked after 12 months. However, due to FTX's bankruptcy in November 2022, the unlocking period was extended to a complete halt after 48 months.
In the lawsuit against NFT Stars, FTX claims it paid $325,000 in November 2021 to purchase 1.35 million SENATE tokens and 135 million SIDUS tokens. FTX stated that after partial delivery, NFT Stars stopped the delivery of the remaining 831,000 SENATE tokens and 83 million SIDUS tokens, citing bankruptcy proceedings.
FTX is seeking the remaining tokens and compensation.
FTX is requesting the court to order the defendants to deliver the remaining tokens and compensate for losses, stating that these tokens had reached peak prices and could have been profitably sold if delivered on time.
According to CoinGecko data, Delysium's AGI token peaked at $0.672 in May 2024 and has now dropped 90% to $0.067. SENATE reached a high of $5.85 in January 2022 and has now depreciated by 99%. SIDUS also peaked at $0.19 in January 2022 and has now dropped by 99%.
NFT Stars and Delysium did not immediately respond to Cointelegraph's request for comment.
FTX has been pursuing funds it claims are owed to the bankrupt exchange. In November 2024, FTX filed three lawsuits, one of which is against SkyBridge Capital and its founder Anthony Scaramucci, seeking to recover sponsorship and investment funds paid by former FTX CEO Sam Bankman-Fried. Another lawsuit targets the cryptocurrency exchange Binance and its former CEO Changpeng Zhao, seeking to recover $1.76 billion worth of cryptocurrency sent to the exchange in July 2021 as part of a repurchase agreement.
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