FTX Sues NFT Stars and Delysium Operator for Refusing to Return Assets

In Brief:

FTX and its liquidation trust filed lawsuits against two token issuers for breach of contract.

More lawsuits are planned as FTX seeks to recover assets for creditors.

Bankrupt crypto exchange FTX and its liquidation trust have initiated legal action against NFT Stars Limited and KUROSEMI INC., operator of Delysium, according to a PR Newswire report cited by Mars Finance. The lawsuits accuse both companies of refusing to return tokens as required under contractual agreements.

FTX stated that multiple attempts to resolve the disputes outside of court were unsuccessful. The platform now plans to pursue legal measures against dozens of other token issuers who have not cooperated in returning assets, aiming to maximize recoveries for creditors.

The move marks an aggressive new phase in FTX’s asset recovery strategy, as it works through one of the most complex bankruptcy cases in crypto history. Officials emphasized that any entity failing to voluntarily comply with asset returns should expect formal legal action.

FTX’s effort highlights the growing legal pressure on token issuers linked to insolvent platforms and the challenges involved in untangling obligations in decentralized financial ecosystems.

‍