FTX Sues Former Employees of Hong Kong Affiliate, Seeks $157 Million

CoinDesk reported:

During the 90 days before the Nov. 11, 2022 bankruptcy filing, known as the Preference Period, the defendants received the benefit of withdrawals that constitute preferential transfers and “are avoidable under the Bankruptcy Code,” the filing said. The defendants raced to withdraw assets and exploited their connections to FTX personnel to ensure they would be prioritized over other customers, according to the filing.

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