FTX has filed a lawsuit to recover at least $11 million from Crypto.com, which is associated with Alameda Research. Crypto.com had locked Alameda’s account after it declared bankruptcy and denied FTX administrator access to the funds. FTX alleges that Alameda opened an account on Crypto.com under the name Ka Yu Tin (Nicole Tin), a shell company, to conceal its trading activities.
However, FTX argues that Alameda funded and controlled the account.
