NEW YORK, New York, 30 March, 2023 - OKX, the second-largest crypto exchange by trading volume and a leading Web3 technology company, announced today that it will turn over to debtors approximately USD157 million in frozen assets related to FTX and Alameda Research, in response to a motion filed today in the FTX bankruptcy proceedings.
In the days surrounding FTX’s collapse in November 2022, OKX proactively initiated investigations to determine whether there had been any FTX-related transactions on its platform. When these investigations discovered assets and accounts associated with FTX and Alameda Research, OKX immediately took action to freeze the associated accounts and safeguard the assets.
OKX welcomes the motion and will continue to cooperate with the FTX debtors and law enforcement officials in the hope that these assets will eventually be returned to FTX users through the bankruptcy process.
Disclaimer This announcement is provided for informational purposes only. It is not intended to provide any investment, tax, or legal advice, nor should it be considered an offer to purchase, sell, or hold digital assets. Digital assets, including stablecoins, involve a high degree of risk, can fluctuate greatly, and can even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances.