London-based hedge fund Attestor Capital, a major claim holder in the collapsed FTX exchange, has taken legal action against a claim seller, adding to the ongoing bankruptcy claims saga. Attestor, along with Silver Point Capital and Diameter Capital Partners, emerged as one of the largest buyers of FTX’s bankruptcy assets. According to Claims Market data, Attestor was the top buyer of FTX claims, having purchased over $400 million worth. After making a significant profit on its FTX claims, Attestor filed a lawsuit against Lemma Technologies, the seller of one of its major FTX accounts. Attestor alleges that Lemma backed out of a deal to sell FTX claims to the hedge fund for $58 million in June 2023, citing the surge in cryptocurrency prices, particularly Bitcoin, which had risen by nearly 130% over the past year. Attestor claims that Lemma decided to keep the claim for itself, describing it as “seller’s remorse.” Lemma has not publicly responded to the lawsuit or filed a defense. Attestor’s lawyers stated that Lemma will only proceed with the transactions if compelled by law. Cointelegraph reached out to both Attestor and Lemma for comment but had not received a response at the time of publication. In addition to the lawsuit, Lemma’s principal investor, Junho Bang, has faced legal issues in South Korea. Bang is accused of stealing digital assets from the collapsed crypto lending firm Haru Invest and was indicted by South Korean authorities after being arrested in January. Haru Invest, which promised investors a 12% yearly return on cryptocurrency deposits, abruptly suspended withdrawals in June 2023, leading to the arrest of its CEO and two other executives for allegedly stealing $830 million from customers.
Attestor, top claim holder on FTX, takes legal action against seller amidst Bitcoin surge