Attestor's 200% Profit Surge From FTX Collapse Sparks Legal Showdown
March 18, 2024Attestor Ltd., a London-based firm, experienced a 200% profit surge from trading assets of the collapsed FTX cryptocurrency empire.
The unexpected profit spike came after the value of crypto assets purchased from FTX significantly increased.
A legal dispute has emerged between Attestor and Lemma Technologies, the seller of a major FTX account, over the ownership of the claim.
Attestor is bringing the fight to a New York court, accusing Lemma Technologies of 'seller's remorse'.
Lemma Technologies, described as an 'obscure' Panamanian entity linked to a South Korean trader, has not publicly commented on the lawsuit.
The court's decision will have implications for the parties involved and could influence the landscape of distressed asset trading in the cryptocurrency sector.
Summary based on 13 sources
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Sources
Bloomberg • Mar 18, 2024
London Fund's FTX Bankruptcy Windfall Mired in Legal BattleBloomberg • Mar 18, 2024
London Fund's FTX Bankruptcy Windfall Mired in Legal BattleBloomberg • Mar 18, 2024
London Fund's FTX Bankruptcy Windfall Mired in Legal BattlePYMNTS.com • Mar 18, 2024
Distressed Assets Buyer Attestor Battles Over FTX Claim