A new complaint claims that the defunct cryptocurrency trading company Alameda Research, a division of FTX founder Sam Bankman-Fried’s empire, seeks to recover $446 million that was transferred to the bankrupt lender Voyager Digital before Alameda filed for bankruptcy.
In response to Voyager Digital’s bankruptcy filing last July, Alameda repaid all of its outstanding debts to the lender, according to a complaint made against the company on Monday by HTC Trading. At the time Voyager demanded their repayment, several of these debts weren’t yet mature.
The petition stated, It is well known that Alameda and its affiliates collapsed amid suspicions that Alameda was illegally borrowing billions in FTX-exchange assets. Voyager and other cryptocurrencies “lenders” who funded Alameda and supported this alleged wrongdoing, either deliberately or carelessly, have been largely overlooked in the (deserved) attention given to the alleged misconduct of Alameda and its now-indicted former leadership.
According to the bankruptcy filing, Voyager had ten distinct loan sheets with Alameda at the time of filing. For loans made to Alameda in the form of various cryptocurrencies, including bitcoin, dogecoin, ether, USDC, litecoin, and others, Voyager claimed it held FTT (an exchange token issued by FTX) and SRM (the token for the Serum protocol) as collateral in a number of filings in September and October 2022.
According to the lawsuit, Alameda paid back Voyager’s loans with ether, bitcoin, and other digital currencies.
The legal representatives for the trading shop stated in their filing on Monday that they had “been unable to determine whether [Voyager] held a valid and effective lien or security interest” in this collateral at any time or whether the “purported collateral” was actually connected to any of Alameda’s obligations.
Alameda is requesting that the transfers be deemed “avoidable preferential transfers” and that the court “give [Alameda] no less than $445.8 million (plus the value of any other unnecessary transfers Plaintiff discovers),” in addition to any fees expended.
