FTX Bankruptcy Trade Turns Into Legal Showdown As Profits Soar By 200%
Summary
Attestor Ltd. gained significantly from the soaring value of crypto assets purchased from FTX exchange. They bought distressed assets at low prices, expecting full recovery from FTX's bankruptcy. However, a Panamanian company, Lemma Technologies, is withholding the claim Attestor purchased, leading to a lawsuit. Lemma's main investor, Junho Bang, is facing embezzlement charges in a separate case. The resolution of these cases will impact distressed investing in the crypto space.
