Creditors of the bankrupt exchange FTX have released a report on the second investigation.
Creditors of bankrupt cryptocurrency exchange FTX are trying to get their money back from the company. However, the creditors submitted a report for the second investigation.
FTX Creditors Struggling For Their Insider Funds
Creditors of FTX, which went bankrupt with its sister companies last year, continue their efforts to recover their remaining funds. However, the creditors continue their legal struggles.
In their second investigative report, FTX creditors have revealed details of the mixing and abuse of customer deposits on the now-closed crypto exchange FTX.
John J. Ray III, CEO and Head of Restructuring, said in a statement:
“The image of FTX Group as the customer-focused leader of the digital age was an illusion. Ever since the FTX.com exchange began, the FTX Group has shuffled client deposits and institutional funds, and has abandoned them under the direction and design of previous senior executives.”
Creditors reported that the exchange owes customers about $8.7 billion.
The review by creditors is ongoing, and the report forms part of a series of incidents related to problems before the company filed for bankruptcy.
