TechFlow news, on November 14, according to Cointelegraph, the liquidators of Three Arrows Capital (3AC) have filed a motion with the court seeking to increase their claim against FTX from $120 million to $1.53 billion. Court documents reveal that FTX forcibly liquidated and seized $1.33 billion worth of assets belonging to the hedge fund on its platform two weeks before 3AC's collapse, using them for debt settlement.
The 3AC liquidators stated that FTX's liquidation actions were "voidable and inequitable," causing significant harm to creditors. They accused FTX of undervaluing transactions and breaching fiduciary and contractual duties. Due to FTX’s delayed provision of critical information, the 3AC team only confirmed the exact loss amount in August 2024 after analyzing raw data.
FTX responded by claiming the liquidation was initiated by an anonymous individual linked to 3AC, though the identity has not yet been determined. A hearing on 3AC’s amended claim motion is scheduled for November 20. Notably, 3AC has also filed a $1.3 billion claim in the Terraform Labs bankruptcy case, alleging it misled 3AC into investing in UST and LUNA.
