OKX to Return Over $157 Million in Frozen Assets to FTX and Alameda Research
OKX, the second-largest crypto exchange by trading volume and a leading Web3 technology company, announced today that it will turn over to debtors approximately USD157 million in frozen assets related to FTX and Alameda Research, in response to a motion filed today in the FTX bankruptcy proceedings.
Investigations Initiated in Response to FTX Collapse
In the days surrounding FTX’s collapse in November 2022, OKX proactively initiated investigations to determine whether there had been any FTX-related transactions on its platform. When these investigations discovered assets and accounts associated with FTX and Alameda Research, OKX immediately took action to freeze the associated accounts and safeguard the assets.
OKX Welcomes Motion and Will Cooperate with Debtors
OKX welcomes the motion and will continue to cooperate with the FTX debtors and law enforcement officials in the hope that these assets will eventually be returned to FTX users through the bankruptcy process.
About OKX
OKX is a world-leading technology company building the future of Web3. Known as one of the fastest and most reliable crypto trading platforms for investors and professional traders everywhere, OKX’s crypto exchange is the second largest globally by trading volume and is trusted by more than 50 million users.
OKX’s leading self-custody solutions include the Web3-compatible OKX Wallet, which allows users greater control of their assets while expanding access to DEXs, NFT marketplaces, DeFi, GameFi and thousands of dApps.
OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis. The company is dedicated to providing a safe, secure, and compliant environment for digital asset trading.
OKX is committed to ensuring the safe return of the frozen assets to FTX and Alameda Research and will continue to cooperate with the FTX debtors and law enforcement officials.