TechFlow reports, on November 11, according to The Block, Alameda Research, the trading firm under FTX, has filed a lawsuit against Waves founder Aleksandr Ivanov and his affiliated entities, seeking to recover at least $90 million in assets.
According to the complaint, Alameda previously deposited approximately $80 million in USDT and USDC into Vires.Finance, a liquidity platform within the Waves ecosystem, which was later converted into about $90 million in USDN. Alameda accuses Ivanov of artificially inflating the value of WAVES through a series of transactions while withdrawing funds from Vires.
Notably, debtors in the FTX bankruptcy case have repeatedly attempted to retrieve frozen assets, but Ivanov ceased responding to all communications after participating in a single call in January 2023. Recently, the FTX bankruptcy management team has initiated over 20 lawsuits against multiple entities to recover funds.
