High FTX Claim Holder Attestor Sues Seller In Bitcoin Rally

The failure of the FTX exchange continues to play out in the bankruptcy claims market, with Attestor Capital, a major FTX claim holder, filing a lawsuit against a claim seller.

Atester is a London-based hedge fund focused on distressed assets and private equity. The firm has emerged as one of the largest buyers of FTX's bankruptcy assets, along with Silverpoint Capital and Diameter Capital Partners.

As of February, Atester was the largest buyer of FTX claims, buying at least $400 million in claims, according to claims market data.

After making a 200% profit on FTX claims, Lemma Technologies has filed a lawsuit against the biggest seller of FTX accounts it bought, Bloomberg reported on March 18.

According to Atester, Lema has agreed to sell FTX Claims in June 2023 for $58 million. Bitcoin (BTC) has surged 130 percent over the past year as the company pulled out of the deal as the cryptocurrency's price soared. Time to write.

Panama-based Mr. Lemma ultimately decided to pursue the claim on his own, Atester said in the lawsuit, and it was reported that “seller's remorse” was evident.

According to Bloomberg, Mr. Lemma has not publicly addressed the issue and has not filed a defense against Atester's New York lawsuit.

Lemma “will not proceed with the transaction or honor the trade assurances,” Atester's lawyers said in the filing “unless they are required to do so by law.”

Cointelegraph has reached out to Mr. Leman for comment on the lawsuit, but has yet to receive a response.

Related: FTX issues warning on authorized auctions and asset sales

While Lemma is facing new charges in New York, one of his key figures is also facing legal trouble in South Korea.

Mr Lema's main investor, Junho Bang, is accused of stealing digital assets from the collapsed crypto-lending firm Haru Invest, and has been charged by South Korean authorities since his arrest in January.

As Cointelegraph previously reported, Haru Invest runs a cryptocurrency monetization platform that promises investors 12% per year on cryptocurrency deposits. The platform stopped withdrawing funds in June 2023, citing problems with service partners.

Subsequently, South Korean prosecutors accused the CEO of Haru Invest and two other executives of embezzling $830 million from thousands of clients.

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