OKX announced on March 29th that it will be returning approximately $157 million in frozen assets to debtors associated with FTX and Alameda Research. This move comes in response to a motion filed in the FTX bankruptcy proceedings.
Following the collapse of FTX in November 2022, OKX initiated investigations to determine whether there had been any FTX-related transactions on its platform. The investigation revealed accounts and assets associated with FTX and Alameda Research, which were immediately frozen to safeguard the assets.
OKX has welcomed the motion and will continue to work with FTX debtors and law enforcement officials to ensure the safe return of assets to FTX users through the bankruptcy process.