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FTX has taken legal action against NFT marketplace Stars to recover millions of dollars in lost funds. The company claims that the platform failed to deliver tokens as agreed upon, causing significant financial losses.
According to court documents, FTX asserts that Stars did not fulfill its obligations to Alameda Ventures, a subsidiary, and instead extended the unlocking schedule for AGI tokens from yearly batches to four-year intervals. This alleged breach of contract has resulted in substantial damages, with FTX seeking compensation for over 70 million AGI tokens valued at around $5 million at current market rates.
Furthermore, FTX is also suing web3 gaming platform Delysium (also known as Kurosemi) due to its failure to deliver a portion of the SENATE and SIDUS tokens. Stars had only delivered a section of these tokens under contract, citing the collapse of FTX and subsequent bankruptcy proceedings.
Source: https://fullycrypto.com/ftx-sues-nft-marketplace-to-recover-funds?utm_source=rss&utm_medium=rss&utm_campaign=ftx-sues-nft-marketplace-to-recover-funds
