Close Menu
  • Coins
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFT
  • Blockchain
  • DeFi
  • Metaverse
  • Regulation
  • Other
    • Exchanges
    • ICO
    • GameFi
    • Mining
    • Legal
  • MarketCap
What's Hot

Alchemy Pay Lists StraitsX Stablecoins to Expand Global Fiat-to-Crypto Access

15/01/2026

80,000 ETH Moves to Binance Beacon Deposit in $249 Million Strategic Shift

15/01/2026

Hong Kong Unveils 10-Year Plan for RWA Tokenization and Digital Markets

15/01/2026
Facebook X (Twitter) Instagram
  • Back to NBTC homepage
  • Privacy Policy
  • Contact
X (Twitter) Telegram Facebook LinkedIn RSS
NBTC News
  • Coins
    1. Bitcoin
    2. Ethereum
    3. Altcoins
    4. NFT
    5. View All

    Price Breaks All-Time High Record Again – Here’s What We Know

    04/08/2025

    Bitcoin Switzerland? El Salvador to Host First Fully Native Bitcoin Capital Markets

    04/08/2025

    Bitcoin Breaks $119K, but XLM and HBAR Aren’t Impressed by Its Meager Percentage Gain

    04/08/2025

    High-Stakes Consolidation Could Define Q3 Trend

    04/08/2025

    80,000 ETH Moves to Binance Beacon Deposit in $249 Million Strategic Shift

    15/01/2026

    Ethereum bulls defend key $3k support after breakout from downtrend

    15/01/2026

    ETH Consolidates as Open Interest and Staking Quietly Build Pressure

    15/01/2026

    Ethereum Rainbow Chart predicts ETH price for January 31, 2026

    15/01/2026

    The Sui Ecosystem’s Top 3 Altcoin Performers

    29/07/2025

    Floki Launches $69000 Guerrilla Marketing Challenge With FlokiUltras3

    28/07/2025

    Crypto Beast denies role in Altcoin (ALT) crash rug pull, blames snipers

    28/07/2025

    $1.6 Billion XRP Surge: Here’s What’s Unfolding

    28/07/2025

    NFT Market Cap Reclaims $3B as Blue Chip Prices Rise

    14/01/2026

    Animoca buys Somo as NFT market rebounds early in 2026

    14/01/2026

    NFT Market Witnesses Record-Breaking Sales, CryptoPunks Secure Leading Spots

    12/01/2026

    NFT sales nosedive 27% to $62.5M, Bitcoin sales dump 65%

    10/01/2026

    Alchemy Pay Lists StraitsX Stablecoins to Expand Global Fiat-to-Crypto Access

    15/01/2026

    80,000 ETH Moves to Binance Beacon Deposit in $249 Million Strategic Shift

    15/01/2026

    Hong Kong Unveils 10-Year Plan for RWA Tokenization and Digital Markets

    15/01/2026

    FTX estate says Justin Sun still owes it millions

    15/01/2026
  • Blockchain

    Spark Explained Like You’re Five

    15/01/2026

    Tomorrow, a Major Altcoin Will Undergo a Critical Update – Here’s What Will Change and What You Need to Know

    15/01/2026

    Baumz Partners with Snowball Money to Simplify Cross-Chain Crypto Transfers

    15/01/2026

    World3 Partners with RAX Finance to Power Scalable AI Applications in Web3

    15/01/2026

    Pi Network Pushes Utility With New SDK and Stellar Core v23 Upgrade

    15/01/2026
  • DeFi

    NOYA Taps LI.FI for Voice-Driven DeFi and Predictions in Web3

    15/01/2026

    2026 Is the Year of XRP Ledger DEX, Says Top XRP Validator

    15/01/2026

    Lista DAO Brings Real-World Yields to BNB Chain

    15/01/2026

    Euler’s Founding CEO Steps Down as Protocol Refocuses on Institutions

    14/01/2026

    Trojan Integrates USD1, Bringing Dollar-Native Onchain Trading to Solana

    14/01/2026
  • Metaverse

    Meta to cut 10% of metaverse arm this week amid AI push: Report

    13/01/2026

    Yuga Labs Acquires Otherside Creator Platform From Improbable

    27/12/2025

    Meta CEO Mark Zuckerberg Made a Decision That Will Deeply Affect Metaverse Projects! Here Are the Details

    05/12/2025

    Meta Plans 30% Cut to Metaverse Budget as Reality Becomes Less Virtual: Bloomberg

    04/12/2025

    Cambridge Institute Joins InfblueNFT to Transform Digital Communication

    21/11/2025
  • Regulation

    Hong Kong Unveils 10-Year Plan for RWA Tokenization and Digital Markets

    15/01/2026

    China Steps In With a Powerful Signal to Financial Markets

    15/01/2026

    Crypto’s Machine Learning ‘iPhone Moment’ Comes Closer as AI Agents Trade the Market

    15/01/2026

    MSCI Isn’t Wrong to Be Cautious on DATs

    15/01/2026

    After 2025’s Test Run, Crypto IPOs Face Their Real Trial in 2026

    15/01/2026
  • Other
    1. Exchanges
    2. ICO
    3. GameFi
    4. Mining
    5. Legal
    6. View All

    Alchemy Pay Lists StraitsX Stablecoins to Expand Global Fiat-to-Crypto Access

    15/01/2026

    FTX estate says Justin Sun still owes it millions

    15/01/2026

    Stunning $1 Billion Move from Aave to HTX Shakes Crypto Sentiment

    14/01/2026

    INXY Payments milestones highlight global surge in stablecoin payments across B2B sectors

    14/01/2026

    South Korea Poised to Lift Ban on Domestic ICOs After 7 Years

    19/12/2025

    Why 2025’s Token Boom Looks Both Familiar and Dangerous

    31/10/2025

    ICO for bitcoin yield farming chain Corn screams we’re so back

    22/01/2025

    Why 2025 Will See the Comeback of the ICO

    26/12/2024

    REVOX Joins TOYUSD1 to Advance Decentralized Gaming via Smart Contracts

    14/01/2026

    daGama and Elderglade Partner to Advance AI-Powered Web3 Gaming Ecosystems

    14/01/2026

    Checkmate Integrates Team Secret to Expand Web3 Gaming

    13/01/2026

    Chainlink ($LINK) Leads Gaming Projects by Social Activity

    12/01/2026

    America’s Grip on Bitcoin Mining Slips, Despite Trump’s Ambitions for Dominance

    15/01/2026

    CleanSpark shares rise as bitcoin miner expands AI power capacity in Texas

    14/01/2026

    Bitcoin mining industry shifting toward infrastructure model, Abundant Mines CEO says

    14/01/2026

    Solo Miner Earns $295,000 After Mining a Full Bitcoin Block

    14/01/2026

    Senate Republicans race toward crypto vote on bill with uncertain Democratic buy-in

    15/01/2026

    What are the New Crypto Rules in Europe and the UK?

    15/01/2026

    Senator Cynthia Lummis Reviews Crypto Bill Ahead of Mark Up

    15/01/2026

    HMRC orders crypto platforms to hand over user data to recover £300M in taxes

    15/01/2026

    Alchemy Pay Lists StraitsX Stablecoins to Expand Global Fiat-to-Crypto Access

    15/01/2026

    80,000 ETH Moves to Binance Beacon Deposit in $249 Million Strategic Shift

    15/01/2026

    Hong Kong Unveils 10-Year Plan for RWA Tokenization and Digital Markets

    15/01/2026

    FTX estate says Justin Sun still owes it millions

    15/01/2026
  • MarketCap
NBTC News
Home»Exchanges»FTX estate says Justin Sun still owes it millions
Exchanges

FTX estate says Justin Sun still owes it millions

NBTCBy NBTC15/01/2026No Comments6 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


The FTX estate has filed a motion for leave to amend its complaint against HTX, Poloniex, and Justin Sun.

The amended complaint claims that the FTX-Alameda Research estate had approximately $27 million in funds on both HTX (then Huobi) and Poloniex when it declared bankruptcy.

The original version of its complaint was filed in November 2024.

What’s in the lawsuit?

The proposed amended complaint, filed by the FTX Recovery Trust, has as its defendants: Huobi, Poloniex, Sun, and a variety of entities that the suit alleges are “alter-egos” of Sun.

It claims that Alameda Research had funds on both Poloniex and HTX (then Huobi) at the time Alameda Research-FTX declared bankruptcy, “then-valued at approximately $27.5 million.”

Unfortunately for the FTX estate, “both Huobi and Poloniex had locked the Alameda accounts, rendering the debtors unable to recover their assets.”

Read more: Justin Sun-advised HTX has redeemed 7,300 WBTC it did not disclose

The “Alameda Huobi Account” wasn’t opened under Alameda Research’s corporate name but instead “was nominally held in the name of the former Alameda employee.”

This account held approximately $22 million when the FTX-Alameda Research criminal organization declared bankruptcy, according to this complaint. Huobi has yet to turn over these assets.

Similarly for Poloniex, Alameda Research had opened an account associated with Sam Bankman-Fried, which held approximately $5.5 million at the time FTX-Alameda Research declared bankruptcy.

Despite repeated follow-ups, Poloniex and Huobi/HTX have apparently been unwilling to return these assets to the FTX-Alameda Research estate.

Read more: Coinbase to delist WBTC months after Justin Sun controversy

The complaint also noted that Sun maintained accounts on FTX, specifically, through entities called Orange Anthem and Black Anthem.

Orange Anthem, according to this proposed amended complaint, filed a customer proof of claim against the FTX estate for approximately $12 million.

The complaint alleges that “Justin Sun operates Huobi, Poloniex, Orange Anthem, along with his TRON Network, as a unified, integrated enterprise.”

Outside of the complaint, we can find evidence of this overlap in the entities in the support documents for these exchanges; consider the “Poloniex OTC Transaction Policy,” which claims that “the P2P merchants and services on Poloniex are provided by Huobi.”

Furthermore, there are documents on the support sites for both exchanges that discuss a “strategic partnership” between these two exchanges.

Justin Sun’s liquidity ploy

After FTX halted most withdrawals on November 8, Sun “entered into discussions with Bankman-Fried concerning a limited liquidity arrangement focused exclusively on Sun-affiliated digital assets.”

Sun then posted about this, claiming that he was helping to facilitate withdrawals by providing liquidity.

The complaint alleges that this behavior by Sun “affirmatively facilitated a breakdown of creditor equality by providing preferential treatment unavailable to others who didn’t have tokens associated with Sun.”

Read more: Justin Sun, crypto’s most shameless marketer, play-acts the hero

This facility ended up “effectively reallocating estate value away from the general creditor body and towards Sun and his enterprises.”

Furthermore, the complaint claims that this ploy “was designed to — and did — artificially inflate the prices of Sun-affiliated tokens by inducing a surge in demand on FTX.”

What does the complaint say about Justin Sun’s entities?

The amended complaint provides us additional insight into what the FTX estate believes the current status of Sun’s web of companies is.

It names two Sun-affiliated firms as responsible for the acquisition of Huobi, specifically About Capital Management and Digital Legend.

Furthermore, it details how Huobi Global S.A. currently owns the HTX trademark in the United States.

Read more: Justin Sun’s Poloniex and HTX withdraw huge amounts from AAVE

It also reveals that Polo Digital Assets, Ltd., which was incorporated in the Seychelles and previously operated the Poloniex exchange has been “stricken from the Seychelles registry in January 2022.”

Despite the fact that this entity has been struck from the registry, it’s still the entity referenced in the Poloniex privacy policy.

Based on the Poloniex user agreement, which claims that “the laws of the Republic of Panama shall govern this agreement,” it’s likely that the successor entity has been incorporated in Panama.

Protos reached out to Poloniex for clarification about which entity currently oversees the platform, but it didn’t provide clarification before publication.

Read more: Justin Sun owns more TRX than everyone else combined, report

A similar problem exists for HTX, where the proposed amended complaint details how “a publicly available Huobi service agreement refers to” an entity called HTX Ltd., which it identifies as being incorporated in the Seychelles.

However, “the Trust has been unable to identify any company incorporated under that name in the Seychelles corporate registry.”

The complaint also mentions that Orange Anthem, the entity that had funds on FTX at the time of collapse, “is part of Sun’s TRON Network” and notes that it registered its FTX accounts with the email “[email protected]” and further noted that its know your customer documents “identified Sun as the sole director and shareholder of Orange Anthem.”

Furthermore, Orange Anthem is linked to Black Anthem, as “when FTX requested proof of Orange Anthem’s assets, the Tron personnel… responded with screenshots reflecting assets that were held not by Orange Anthem, but rather nominally by Black Anthem.”

Black Anthem’s account was registered to the email account “[email protected].”

Read more: How involved is Justin Sun with WBTC’s new custodian BiT Global?

When this proof of assets was challenged by FTX employees, “the Tron personnel… expressly dismissed any distinction among the entities,” suggesting that Black Anthem “uses the director Sun Yuchen, this totally matches the director of Orange Anthem Ltd. Sun Yuchen. The person is the same.”

When, according to the proposed amended complaint, FTX employees suggested this didn’t prove that Orange Anthem owned the assets, the Tron personnel stated that “Yes Sun Yuchen is the sole director for Black Anthem Ltd as same as Orange Anthem Ltd.”

This was an apparent attempt to suggest that Sun’s control of these entities meant their assets were interchangeable.

As we’ve mentioned previously, Sun is a fan of the author Ayn Rand, and Anthem is a book by Ayn Rand.

What happened before this amended complaint?

The original adversary case was filed in November of 2024.

This earlier complaint named Hbit LTD., as well as the other defendants, which was subsequently removed in February of 2025.

In April 2025 the defendants filed a motion to dismiss the suit, and a hearing related to this was held on December 8, 2025.

Following this, the original complaint was dismissed.

Subsequently, on January 7, the FTX estate filed its motion for leave to amend its complaint.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
NBTC

Related Posts

Alchemy Pay Lists StraitsX Stablecoins to Expand Global Fiat-to-Crypto Access

15/01/2026

Stunning $1 Billion Move from Aave to HTX Shakes Crypto Sentiment

14/01/2026

INXY Payments milestones highlight global surge in stablecoin payments across B2B sectors

14/01/2026

Bitget Lists 98 Tokenized U.S. Stocks And ETFs Via Ondo Finance On BNB Chain

13/01/2026
Add A Comment

Comments are closed.

Top Posts
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook X (Twitter) LinkedIn RSS
Top Insights

Alchemy Pay Lists StraitsX Stablecoins to Expand Global Fiat-to-Crypto Access

15/01/2026

80,000 ETH Moves to Binance Beacon Deposit in $249 Million Strategic Shift

15/01/2026

Hong Kong Unveils 10-Year Plan for RWA Tokenization and Digital Markets

15/01/2026
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Type above and press Enter to search. Press Esc to cancel.