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FTX Files Legal Action Against Bybit to Recover $953M in Alleged 'Misappropriated Funds'
FTX's estate has taken legal action against Bybit, aiming to recover $953 million transferred to Bybit's investment arm, Mirana, and affiliated entities leading up to FTX's November 2022 bankruptcy filing.
Allegedly, these funds were "misappropriated" or transferred under questionable circumstances. The lawsuit, filed in Delaware, targets Bybit Fintech Ltd., Mirana, and key individuals, including Mirana executive Sean Tan. It asserts that Mirana received substantial transfers from FTX.com, valued at approximately $838 million, with $500 million transferred just days before FTX halted withdrawals.
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