FTX customers accuse hedge fund Olympus Peak of failing to fully pay for the proceeds from the sale of their debt rights

ChainCatcher news, FTX customer Nikolas Gierczyk has sued the hedge fund Olympus Peak, accusing the fund of purchasing his debt and earning over $1 million from the transaction without paying him the full amount of the proceeds.

Gierczyk stated that Olympus Peak owes him a larger payment because he sold $1.59 million in debt to the hedge fund at a "significant discount of 42%" last year, while FTX received approval for a bankruptcy restructuring plan this year, which is expected to return 129% to 146% of the debt value to customers.

Gierczyk pointed out in the lawsuit that he explicitly stated his right to additional compensation in the agreement with Olympus Peak, but the fund refused to honor that right.