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OKX to Turn Over $157 Million in Frozen FTX and Alameda-Related Assets

Cointime Official

Cryptocurrency exchange OKX has announced its decision to hand over approximately $157 million in frozen assets related to FTX and Alameda Research to the debtors. This move comes in response to a motion filed in the FTX bankruptcy proceedings.

"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." the firm wrote in the statement.

OKX has expressed its support for the motion and stated that it will maintain its collaboration with the FTX debtors and law enforcement authorities. The company hopes that the frozen assets will ultimately be returned to FTX users through the bankruptcy process.

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