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FTX Estate Sues LayerZero Labs To Recover $86M Transferred On Eve Of Bankruptcy
The FTX estate has filed a lawsuit against LayerZero Labs, aiming to reverse a $45M agreement made days before FTX's bankruptcy. The lawsuit claims that several transactions involving equity stakes and tokens were fraudulent due to FTX's insolvency at the time. Additionally, FTX is seeking to reclaim over $40M in withdrawals by LayerZero and its ex-COO before the bankruptcy. The decision seeks to benefit the creditors of the bankrupt estate.