The bankrupt exchange steps up legal battles to recover assets and repay devastated investors.
Key Highlights:
• FTX files lawsuits against NFT Stars and Kurosemi over unreturned crypto assets tied to pre-collapse agreements.
• Recovering these assets could strengthen FTX’s ability to repay creditors caught in the 2022 bankruptcy fallout.
Yello ParadiseSquad, the FTX saga just added a new, fiery chapter. In a bold legal push to recover what it can for its battered creditors, FTX and its recovery trust have officially sued NFT Stars and Kurosemi (the parent of Delysium) in U.S. Bankruptcy Court.
The lawsuits accuse both firms of failing to deliver digital assets owed under Simple Agreements for Future Tokens (SAFTs)—deals made before FTX’s spectacular November 2022 collapse. FTX alleges that despite paying millions in investments, neither company returned the agreed-upon tokens after the bankruptcy filing, even after multiple attempts to resolve the issue outside court.
The Stakes: Millions in Missing Tokens
According to court filings:
- NFT Stars allegedly received $325,000 from FTX in 2021 in exchange for 1.35 million SENATE tokens and 135 million SIDUS tokens. Some tokens were transferred pre-bankruptcy, but large portions were withheld once FTX imploded.
- Kurosemi (Delysium’s parent) received $1 million in January 2022 under an agreement to deliver 75 million $AGI tokens. The tokens finally launched after FTX’s bankruptcy—but Kurosemi has allegedly failed to transfer a single token.
FTX’s message to both firms is crystal clear:
“Return assets that rightfully belong to FTX—or face litigation.”
A Broader Strategy: Recover Every Penny
Since its collapse, the FTX estate has filed multiple lawsuits against token projects, venture investments, and insiders. The mission?
Maximize recoveries for creditors—even if it takes years and hundreds of lawsuits.
The estate emphasized in its latest statement:
“Our team continues to work tirelessly to maximize recoveries for the FTX Estate and return funds to creditors.”
Still, the task is daunting. The tangled mess of crypto valuations, cross-border legal complexities, and token illiquidity make estimating total recoverable assets incredibly difficult.
These lawsuits aren’t just about clawing back cash—they’re about restoring credibility to one of crypto’s most infamous collapses.
Don’t Miss the Signals Behind the Lawsuits
Moves like this aren’t just legal news, they’re market-moving undercurrents. When dead platforms start recovering assets aggressively, pressure on low-float altcoins and smaller crypto projects intensifies. This could lead to forced sales, volatility spikes, or hidden buying opportunities—if you know where to look.
We broke this exact dynamic down in our latest YouTube stream, helping ParadiseFamilyVIP members prepare for the ripple effects these legal battles might unleash across the market.
If you’re still catching headlines after the move happens—you’re already too late.
Join MCP News Private for just $3/month, get plugged into real-time market intelligence, and watch the streams where we connect the dots others miss.
ParadiseFamilyVIP knows: in crypto, lawsuits don’t just end stories—they start new ones.
Stay ahead. Stay strategic. Stay Paradise.
