FTX intensifies repayment efforts by suing NFT and token issuers to recover missing assets

Even after FTX collapse, the exchange isn’t stepping out of the spotlight. In the latest FTX News update, the bankrupt crypto

The bankrupt FTX exchange is making a desperate effort to speed up FTX repayments by filing lawsuits against NFT Stars Limited and KUROSEMI INC., the company behind Delysium, to recover missing assets.

According to a new press release on PR Newswire, FTX is planning to sue several token and coin issuers in a last-ditch attempt to return user assets following the exchange’s catastrophic collapse.

The exchange has stated that it prefers to resolve matters amicably and has reached out to numerous companies to cooperate in returning the relevant tokens to its estate. However, despite multiple reminders and attempts at out-of-court settlement, these companies have allegedly failed to comply with the orders.

Therefore, FTX is now seeking a court order to seize the tokens and return them to the estate.

The legal push may just be getting started, with FTX warning that more lawsuits are coming, targeting other token and coin issuers who are allegedly holding onto assets. The exchange claims to be actively reaching out, but if companies fail to cooperate, they can expect swift legal action.

On the other side, Crypto analyst Eva Lenoir is sarcastically shading FTX's legal move, calling it a sheriff act. She questions where this energy was when Sam Bankman-Fried was mishandling users' funds, suggesting the lawsuits come far too late to matter.

Moreover, she believes that the real losers are small investors who’ll bear the cost. Contrastingly, Bitcoin remains strong, unshaken, and still shining despite the chaos.

Every asset recovery counts as the FTX legal team continues to fight for the best outcome in Chapter 11 proceedings. Returning these tokens could significantly boost the funds available for FTX repayments to creditors who are still awaiting compensation after the exchange’s collapse.