FTX has filed a lawsuit against LayerZero Labs to recover millions in funds that were allegedly illegally withdrawn prior to its collapse in November 2022.
FTX alleges in the lawsuit that LayerZero exploited Alameda Ventures during a liquidity crisis:
"LayerZero was well aware that Alameda Research was facing a liquidity crisis and, within about 24 hours, negotiated a fire-sale transaction with Caroline Ellison, Alameda Research’s then-CEO.” Along with the agreements’ cancellation, the complaint seeks recovery of funds withdrawn days before FTX bankruptcy filing, including approximately $21.37 million from LayerZero Labs, as well as $13.07 million from Ari Litan, its former chief operating officer, and $6.65 million from a subsidiary, Skip & Goose.is also attempting to recoup billionsCointelegraph reached out to LayerZero Labs, but did not receive a response at the time of publication.
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