A US user has recently filed a class action lawsuit against Silvergate Bank for reportedly transferring FTX user deposits to Alameda Research accounts.
According to court documents, the plaintiff “entrusted his funds to FTX” because the company promised to “safely store the assets.” However, after the collapse of the FTX empire, investors found themselves “unable to get their money back” and faced “catastrophic losses.”
According to the document:
“Unbeknownst to the plaintiff and other clients, Alameda and FTX were operating as a single criminal organization under the control of Bankman-Fried. Alameda used investor funds for various unauthorized purposes.”
The plaintiff claims that the bank “assisted and assisted FTX in fraud” through improper operations.