FTX Customers File Lawsuit To Reclaim Assets

Furious FTX customers have filed a class action lawsuit against the failed crypto exchange demanding a declaration that its holdings of digital assets belong to them, arguing FTX allowed their accounts to be misappropriated.

The proposed class wants to represent some 1 million customers by also reaching a declaration that holdings at Alameda that can be linked to FTX customers are also not property of the trading firm.

If those rulings are not delivered, the lawsuit is pursuing the customers’ place at the front of the queue of creditors to be repaid.