3AC liquidators seek to increase claims against FTX from $120 million to $1.53 billion

ChainCatcher news, the liquidators of Three Arrows Capital (3AC) are attempting to amend their claim against FTX, increasing the claim amount from $120 million to $1.53 billion.

The liquidators of 3AC claim that FTX liquidated and seized their assets on the platform two weeks before the hedge fund's collapse to settle a $1.33 billion debt. The hedge fund argues that these transactions were "avoidable and unfair," causing harm to 3AC's creditors. 3AC believes the liquidation should be invalidated, accusing FTX of undervaluing the transactions and breaching trust and contract.

The bankrupt hedge fund also claims that FTX delayed providing necessary information, forcing 3AC to parse original data to calculate losses. As a result, 3AC states that it could only confirm the liquidation amount in August. However, FTX responded that an unnamed individual associated with 3AC initiated the asset liquidation. FTX has not identified this person. A court hearing will be held on November 20 to discuss 3AC's motion to amend the claim.