• OKX returns $157 million in frozen property linked to FTX and Alameda.
• Chapter attorneys mentioned FTX had an enormous asset shortfall.
• Of property price $2.2 billion, solely $694 million is essentially the most liquid, like BTC.

In an thrilling flip of occasions, crypto alternate OKX mentioned it was handing over roughly $157 million in frozen property linked to FTX and Alameda to the related authorities – in response to a movement filed as a part of the proceedings. of chapter.

In line with Thursday’s official assertion, OKX claimed to have proactively launched investigations within the days surrounding FTX’s collapse to find out if there have been any FTX-related transactions on its platform. After discovering accounts linked to FTX and Alameda Analysis, OKX instantly froze the related accounts to guard property.

Notably, a hacker stole $600 million from FTX wallets shortly after it was shut down final November. The incident has sparked fears amongst crypto lovers that FTX accounts on different exchanges have additionally been compromised.

Earlier this month, chapter attorneys engaged on FTX’s case mentioned the failed alternate had an enormous asset shortfall. In line with the report, property price $2.2 billion have been recognized within the wallets of accounts related to FTX. Nonetheless, solely $694 million is essentially the most liquid Class A property, which embrace fiat, stablecoins, Bitcoin (BTC) and Ethereum (ETH).

Different property included $385 million in unpaid invoices and materials claims towards FTX’s sister firm Alameda Analysis and different associated events. The presentation additionally reveals that Alameda borrowed $9.3 billion from FTX’s wallets and accounts.

Equally, FTX’s US subsidiary had whole property of $191 million, along with $28 million in commerce receivables and $155 million in associated social gathering receivables.