According to BlockBeats news, on November 11, Alameda Research, the trading subsidiary of bankrupt crypto trading platform FTX, filed a lawsuit against Aleksandr Ivanov, the founder of Waves and its affiliated entities, in an attempt to recover at least US$90 million.
Alameda said in a filing on Sunday that it sought to transfer $90 million worth of assets owned by debtors in the Alameda and FTX bankruptcy cases, adding that Alameda had previously parked the assets on a liquidity platform it operates on Waves Vires.Finance on.
According to the documents, in March 2022, Alameda deposited approximately $80 million in USDT and USDC on Vires, which was allegedly converted into USDN worth approximately $90 million. Vires users are encouraged to deposit assets into Vires through the Waves blockchain to earn rewards or interest and gain governance rights in the Vires DAO. “While Ivanov promoted Waves and Vires as an opportunity for lenders and other users to earn substantial profits, Ivanov secretly orchestrated a series of transactions that artificially inflated the value of WAVES while siphoning funds from Vires,” Alameda said.
Alameda noted that the debtor “made multiple attempts to regain custody of the frozen assets” and that Ivanov “agreed to participate in a call with the debtor in January 2023.” However, Ivanov has since ignored all other efforts by the debtors, the filing said. Over the past few days, the FTX bankruptcy estate has filed more than 20 lawsuits against various entities in an effort to recover funds from creditors.
