On November 8th, COINOTAG News reported that FTX has initiated legal proceedings to recover a minimum of $11 million from a Crypto.com account linked to Alameda Research. Following Alameda’s bankruptcy declaration, Crypto.com reportedly suspended access to the account, denying FTX’s attempts to withdraw the funds. FTX asserts that Alameda opened the account using the alias Ka Yu Tin (also known as Nicole Tin) prior to its bankruptcy filing. This practice, according to FTX, is a typical strategy employed by Alameda, which routinely registers accounts under the names of shell companies or employees to mask its trading operations. FTX further claims that this account was both funded and controlled by Alameda, raising significant concerns regarding transparency and risk management practices within the ecosystem.
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