OKX Will Transfer $157M of Frozen Assets to FTX Managers

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OKX has announced that it will be transferring $157 million worth of frozen assets related to FTX and Alameda Research to the debtors of the bankrupt exchange.

The press release did not specify what cryptocurrencies and tokens make up this amount of funds. The decision to refund the debtors came after the petition was filed.

In November of 2022, OKX launched an investigation into any transactions on its platform involving Sam Bankman-Fried’s business empire.

After discovering assets and accounts associated to FTX and Alameda Research, the exchange immediately froze them. OKX has also stated that it will continue to cooperate with debtors and law enforcement in order to return the assets to FTX users through the bankruptcy proceedings.

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