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A group of FTX customers want their name out of the crypto exchange bankruptcy case.
Clients said in court documents filed this week that their desire to keep their names and contact information private outweighs the public interest in transparent bankruptcy proceedings, The Wall Street Journal said. We reported on Thursday (December 29).
“There is no more compelling justification than withholding and redacting the information of thousands of FTX.com customers whose funds were stolen and who never expected their use of cryptocurrencies and FTX.com to become public. It’s hard to imagine any case,” Filing said.
Customers claim that if their names were made public, they could expose themselves to cyber fraud and identity theft, reducing the remaining value of FTX.
The news comes two days after a class action lawsuit was filed against FTX and its former executives. This is intended to represent his one million FTX customers who wish to obtain a declaration that his FTX customers in the United States and other parts of the world are the owners of the . Digital assets owned by FTX and Alameda Research.
Also, if the judge finds that the assets are FTX’s property, the lawsuit would like to obtain a ruling that the customer should be paid before other creditors.
“Members of the customer class are not required to stand alongside secured or general unsecured creditors in these bankruptcy proceedings solely to share the diminished real estate assets of FTX Group and Alameda,” the complaint states. I’m here.
As PYMNTS reported on Nov. 21, FTX said it owes more than $3 billion to its 50 largest creditors. The top 50 claims by exchange creditors range from his $21 million on the low end to his $250 million and above on the high end.
U.S. corporations are required to disclose information about their debts during bankruptcy proceedings. As the bankruptcy progresses, the company’s creditors will have an opportunity to consider how best to distribute the repayment of its outstanding debts by FTX.
As PYMMTS recently wrote, the FTX bankruptcy — part of the billions of exchange bankruptcies that have evolved into global criminal investigations — has become a headline highlighting how the creative villain came to be. It happened during a year filled with ‘breathtaking heists’.
These cases show how scammers have fine-tuned their efforts to “track money and take money from innocent victims: individuals, families, and businesses.”
And cryptocurrency-related crimes, such as the $372 million FTX hack that followed the company’s bankruptcy, “are just one of the most spectacular crimes,” the PYMNTs noted.
For coverage of all PYMNTS cryptocurrencies, visit every day Crypto Newsletter.
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