FTX Files Lawsuit Against Voyager Digital to Recover $445.8M Loan

  • FTX said that it had sent $248.8M to Voyager in September and another $193.9M in October.
  • The exchange confirmed that Alameda misappropriated from FTX clients to pay for risky loans.

In an attempt to reclaim $445.8 million in loan payments made by FTX before declaring for bankruptcy, the defunct cryptocurrency exchange reportedly sued crypto lender Voyager Digital on Monday. Voyager declared bankruptcy in July, and FTX followed suit in November.

According to the legal documents, FTX said that it had sent $248.8 million to Voyager in September and another $193.9 million in October on behalf of Alameda.

Loan Payments Made Before Bankruptcy

Also in August, FTX forked up $3.2 million in interest. The loan payments were allegedly made by FTX soon before the company filed for bankruptcy so that they might be recovered and used to repay FTX’s other creditors.

According to the court document, FTX confirmed that Alameda misappropriated from FTX clients to pay for risky loans. On the other hand, Voyager and other cryptocurrency lenders were involved in Alameda’s acts, since they “knowingly or recklessly” pushed their clients’ assets onto Alameda.

FTX had previously won an auction for Voyager Digital’s assets with an offer of around $1.42 billion; however, the anticipated purchase fell through when FTX collapsed in November. As has been widely reported, SBF’s legal team has claimed that he should be given access to the assets and cryptocurrencies now held by his former firm, FTX.

As a result of SBF’s departure from his role as CEO, FTX, and its subsidiaries filed for bankruptcy on November 11. In their petition for bankruptcy, FTX said that the exchange was experiencing a serious financial issue that required the filing of these lawsuits on an emergency basis.

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A diploma graduate who is passionate about digital currency and loves writing. He loves the concept of crypto and keeps himself up to date with the latest development and news of the crypto world.