FTX lawsuit documents reveal that Meerun caused over $1 billion in losses by manipulating the cryptocurrency market

ChainCatcher message, according to the disclosures in the FTX lawsuit documents, Meerun is a complex and well-organized criminal who has defrauded FTX by manipulating tokens such as BTMX since 2021, resulting in losses exceeding $1 billion. His methods include manipulating token prices to increase collateral value, exploiting vulnerabilities in the FTX margin system to obtain funds, and evading monitoring through false KYC materials and multiple associated accounts.

The FTX team attempted to freeze Meerun's account but failed to timely stop his withdrawals, resulting in his successful cashing out of $450 million. Additionally, Meerun is also suspected of manipulating other tokens such as MOB, BAO, and SXP, profiting significantly from the characteristics of insufficient market liquidity.

The documents further indicate that Meerun has close ties to organized crime networks in Poland, Romania, and Ukraine, which are involved in human trafficking and terrorism financing.