FTX Lawsuit Targets NFT Stars and Delysium Over Missing Token Deliveries
Bankrupt crypto exchange FTX has filed lawsuits against NFT Stars Limited and Delysium, accusing both firms of withholding digital assets that were contractually promised but never delivered. The complaints are part of FTX’s broader legal strategy to recover funds and maximize creditor repayments following its high-profile collapse in November 2022.
FTX’s Legal Complaints Over Undelivered Tokens
In a public statement on April 29, FTX announced two separate lawsuits after repeated attempts to resolve the disputes privately were ignored. The FTX lawsuit targets NFT Stars and Delysium over missing token deliveries, claiming breach of contract and violations of bankruptcy law.
According to legal documents, Alameda Ventures (now operating as Maclaurin Investments) paid $1 million in January 2022 for rights to 75 million AGI tokens from Delysium. Although the tokens officially launched in April 2023 with a vesting schedule—allowing 20% to unlock after 12 months—Delysium allegedly changed the terms without consent, extending the lockup period to 48 months. The firm has so far refused to transfer any tokens, citing FTX’s bankruptcy proceedings.
The second case involves NFT Stars, which reportedly received $325,000 from FTX in November 2021 in exchange for 1.35 million SENATE and 135 million SIDUS tokens. While partial delivery occurred before the bankruptcy, FTX claims 831,000 SENATE and 83 million SIDUS tokens remain undelivered.
FTX Estate Pursues Token Recovery
FTX’s legal team argues that both companies violated binding agreements and the automatic stay under U.S. bankruptcy protection. “We urge token and coin issuers to return assets that rightfully belong to the FTX Estate,” the company stated, emphasizing a willingness to pursue legal action when cooperation fails.
These lawsuits reflect FTX’s aggressive recovery campaign, which has already yielded billions in reclaimed assets. The company began distributing recovered funds on February 18, 2025, focusing on small claims under $50,000. The next round—scheduled for May 30, 2025—will address larger claims under the company’s reorganization plan approved in October 2024. That plan forecasts an average 119% recovery per claim, with some creditors potentially receiving up to 140% in cash.
FTX estimates total recoveries between $14.7 billion and $16.5 billion, bolstered by coordinated efforts with U.S. regulators and global authorities.
