FTX has initiated legal proceedings against NFT Stars Limited and Delysium, seeking to recover the digital assets that would have retained its succession.
The proceedings are the last of his current efforts to recover the funds and maximize the recovery of creditors after his collapse in November 2022.
Token allegations
Deceased crypto exchange announcement On April 29, that he had filed two official complaints after several attempts to engage with the companies in question were ignored. The proceedings alleged that NFT Stars and Delysium have not transferred the tokens to which the company is contractually entitled.
Legal deposits in the case against the state of Delysium that Alameda Ventures, now Maclaurin Investment, paid $ 1 million in January 2022 for rights to receive 75 million tokens acted. These parts were officially launched in April 2023 with an acquisition structure allowing 20% to unlock after 12 months, followed by quarterly versions.
However, Delysium would have changed the conditions by extending the period at 48 months without the consent of the FTX and refused to transfer tokens, citing an in progress procedure.
The complaint against NFT Stars claims that the scholarship paid $ 325,000 in November 2021 to obtain 1.35 million tokens from the Senate and 135 million Sidus tokens. While some parts were delivered before the FTX bankruptcy deposit, the company claims that more than 831,000 Senate and 83 million Sidus remain unpaid.
Ftx alleged Operation of the contract and violation of the automatic stay launched by its protection against bankruptcy.
“We urge the tokens and parts to return assets that rightly belong to the FTX, and are willing to launch an adequate commitment,” the domain said in a statement. “Our team continues to work tirelessly to maximize the recovery of the FTX succession and the return funds to creditors.”
The company also confirmed that it was in discussion with several other token issuers and warned that new legal actions would follow if they would not cooperate.
Recovery efforts
These proceedings come in the middle of the wider recovery campaign of the deceased exchange, which has already had some success. On February 18, 2025, the company began to distribute funds recovered from creditors, starting with approved complaints of less than $ 50,000 in the convenience.
The next disbursement cycle is scheduled for May 30, 2025, with the date of registration set on April 11. This will cover claims for class 5 customers, general claims for class 6 and additional convenience complaints.
The initiative follows a reorganization plan approved by the court finalized in October 2024 which projects average recovery of 119% per complaint, certain creditors receiving up to 140% in cash. FTX estimates that total asset recoveries vary from $ 14.7 billion to $ 16.5 billion, helped by successful recovery efforts from the United States Ministry of Justice and World Regulators.
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