Bankruptcy | ForkLog

ForkLog 14 19.02.2025

Coinbase Faces Allegations of Concealing Bankruptcy Risks

Coinbase shareholder Wenduo Guo has filed a lawsuit against the exchange and its executives, accusing them of concealing bankruptcy risks. This was reported by Cointelegraph, citing the lawsuit dated February 18. According to the case materials, Coinbase failed to inform clients that their funds could become part of the bankruptcy estate if the company went […]

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ForkLog 10 18.02.2025

FTX Initiates First Wave of $1.2 Billion Creditor Payouts

Former clients of the bankrupt platform FTX with assets up to $50,000 have begun receiving initial payouts on the Kraken exchange and via the BitGo service.

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ForkLog 9 09.01.2025

FTX disputes Backpack Exchange’s claim to have bought FTX EU

FTX’s liquidators called Backpack’s statements about an alleged acquisition of FTX EU and the reimbursement of former customers “misleading”. The FTX Debtors today provided clarification on certain statements by Backpack relating to Backpack’s purported acquisition of FTX EU. Read more here: https://t.co/WVwfNXBKRj — FTX (@FTX_Official) January 8, 2025 FTX said the company, founded by former […]

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ForkLog 11 20.12.2024

Cryptopia Clients Receive $225 Million in Assets from Liquidators

Liquidators of the New Zealand exchange Cryptopia from the audit firm Grant Thornton have begun distributing funds in Bitcoin and Dogecoin to the platform’s clients. According to a press release, over two days, more than 10,000 verified account holders received assets totaling 400 million NZD (~$225.4 million). “Since the launch of the claims portal, the […]

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ForkLog 9 17.12.2024

FTX to Begin Creditor Payments in 2025

The court-approved reorganisation plan for FTX will take effect on January 3, 2025. The initial distribution of funds among creditors with unsecured claims will occur within 60 days. The FTX Debtors today announced that the effective date for its Plan of Reorganization has been set for January 3, 2025, which is also the initial distribution […]

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ForkLog 32 28.11.2024

Celsius to Distribute $127 Million to Creditors in Second Payout

The bankruptcy administrator for the lending platform Celsius will distribute assets worth $127 million among eligible creditors as part of the second payout. This is according to a court filing. According to the document, investors will receive compensation in Bitcoin based on cryptocurrency exchange rates as of January 16. For the purpose of determining the […]

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ForkLog 9 05.11.2024

Mt.Gox Transfers $2.3 Billion in Bitcoin to External Addresses

The bankrupt cryptocurrency exchange Mt.Gox has transferred 34,371 BTC (approximately $2.3 billion) to two unknown wallets. The transactions were recorded by the Arkham service. A total of 32,371 BTC was sent to the address “1FG2C…Rveoy”, while 2000 BTC was transferred to an unmarked wallet “15gNR…a8Aok”. Data: Arkham. This operation is the largest in recent months, […]

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ForkLog 7 01.11.2024

Mt.Gox Transfers $35 Million in Bitcoin from Cold Wallet

The bankrupt cryptocurrency exchange Mt.Gox has transferred approximately 500 BTC (~$35 million) to an unknown address. The transaction from the platform’s cold wallet was recorded by the service Arkham. Data: Arkham. In May, Mt.Gox began moving its bitcoin holdings for the first time in five years, with the amount then estimated at 137,892 coins valued […]

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ForkLog 38 12.10.2024

Mt.Gox Delays Compensation Deadline to 2025

The management of the bankrupt bitcoin exchange Mt.Gox has announced a postponement of the compensation deadline from October 31, 2024, to October 31, 2025. “Since it is desirable to make rehabilitation creditor repayments to the extent practically possible, the trustee, with court approval, has changed the repayment deadline from October 31, 2024, to October 31, […]

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ForkLog 13 08.10.2024

Court Approves FTX Reorganization Plan

Delaware bankruptcy judge John Dorsey approved the plan for distributing payments to creditors of the collapsed bitcoin exchange FTX. “I want to congratulate everyone. This is a textbook example of how to handle a very complex Chapter 11 bankruptcy,” stated Dorsey. The plan was supported by 94.48% of FTX clients with claims on assets valued […]

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ForkLog 7 03.10.2024

FTX to Auction 22.3 Million Locked Worldcoin Tokens at a Discount

The bankrupt exchange FTX is set to auction 22.3 million locked Worldcoin (WLD) tokens valued at approximately $36.1 million at a significant discount, according to The Block, citing its own sources. Bids from interested buyers were accepted until the evening of October 2. The discount on the current spot price of the asset could range […]

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ForkLog 8 20.09.2024

Terraform Labs Granted Liquidation Approval

On September 19, a bankruptcy court in Delaware approved the liquidation plan for the cryptocurrency firm Terraform Labs as part of its bankruptcy proceedings, according to Reuters. The judge endorsed the company’s bankruptcy plan, describing it as a “welcome alternative” to further litigation over investor losses. The decision follows an agreement between Terraform Labs and […]

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