LayerZero CEO: The purpose of the FTX lawsuit is to obtain more legal fees, rather than to resolve issues

ChainCatcher news, in response to the previous lawsuit filed by FTX against LayerZero and its former COO, LayerZero co-founder and CEO Bryan Pellegrino tweeted that the entire lawsuit is filled with unverified claims. LayerZero has been in communication with the FTX liquidators for nearly a year and has repeatedly attempted to proactively resolve the ownership issues with them, but has been ignored. The purpose of their claim is not to resolve the issues but merely to prolong the process in hopes of obtaining more legal fees; any claims regarding "illegal" withdrawals are incorrect.

Previous report, on September 10, FTX creditor @sunil_trades stated on social media that according to the lawsuit documents, FTX has filed a recovery lawsuit against LayerZero Labs and other related parties, seeking to recover approximately $41 million in funds. Additionally, earlier today it was reported that FTX, led by CEO John Ray III, is suing LayerZero Labs to recover $86 million transferred just before the bankruptcy.