FTX customers filed a class-action lawsuit against the failed crypto exchange to get their lost money back
FTX customers filed a class-action lawsuit on Tuesday against the bankrupt crypto lending firm and former CEO Sam Bankman-Fried, to claim back money lost when the firm collapsed earlier in the year.
Four plaintiffs filed the class-action on behalf of millions of former FTX customers saying that the firm's digital assets belong to customers and that they deserve priority access to those funds, according to the lawsuit filed in the US Bankruptcy Court in Delaware. "Customer Class members should not have to stand in line along with secured or general unsecured creditors in these Bankruptcy Proceedings just to share in the diminished estate assets of the FTX Group and Alameda," the complaint said.
"Cash and assets traceable to customers, which never belonged to FTX or Alameda, and do not belong to the estates, should be earmarked solely for customers, and victimized customers should likewise have priority to any other cash possessed or recovered by Debtors." Lawyers for the plaintiffs did not immediately respond to Insider's request for comment outside of normal working hours.
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