ChainCatcher News: After the U.S. court approved the FTX bankruptcy reorganization plan, FTX will distribute cash to customers and creditors. At this stage, efforts are being made to finalize the arrangements for distributing funds to creditors in over 200 jurisdictions worldwide, and relevant agreements are being drafted. Additionally, a professional agency will be hired to recover debts from global customers.

ChainCatcher news, according to official sources, the Indian cryptocurrency exchange platform WazirX announced on Wednesday that it has requested six months from the Singapore High Court to restructure its debts. This move will initiate a 30-day automatic stay. The court has yet to determine the hearing date to decide whether to approve the stay.WazirX stated that its co-founder Nischal Shetty has requested the court to order that Zettai (the operating company of WazirX) not be liquidated through any resolution; and that no execution, seizure, or other legal proceedings may be initiated, continued, or enforced against any property of Zettai without the court's permission. The stay will provide Zettai with breathing room to restructure, which is the most effective way to address users' cryptocurrency balances on the platform and facilitate user recovery.Previous news reported that WazirX suffered a hack in July, resulting in a loss of $230 million.

ChainCatcher news, according to The Block, Digital Currency Group (DCG) announced in its quarterly shareholder letter this week that as of June, the company has fully repaid its short-term debt, having repaid over $1 billion to creditors in the past 18 months. DCG stated that the only remaining debt is a $1.1 billion promissory note for its crypto lending division, Genesis, which is due in 2032.

ChainCatcher news, according to The Block, DCG announced in its quarterly shareholder letter this week that it has fully repaid its short-term debts as of June. Over the past 18 months, the company has repaid more than $1 billion to creditors, particularly boosted by strong performance in the first half of this year.It is reported that the only remaining debt for the company is a $1.1 billion promissory note, which is due in 2032, at which point its crypto lending division Genesis will be bankrupt.

ChainCatcher news, according to Lookonchain monitoring, after the market decline, a certain whale sold 8,174 stETH (27.8 million USD), 5,500 wstETH (20 million USD), and 193 WBTC (12.13 million USD), obtaining 59.98 million USDC to repay all debts on Aave.The whale currently has no debts and holds 16,082 ETH (50.9 million USD) and 550 WBTC (35.5 million USD).

ChainCatcher news, according to Lookonchain monitoring, as the ETH price drops, many whales are about to face liquidation of ETH deposited in Aave and Compound. In the past 2 hours, 3 whales deposited 28,558 ETH (approximately 82.2 million USD) to Binance and sold it to repay their debts.

ChainCatcher message, Curve founder Michael Egorov posted on X: "The Curve Finance team and I have been working hard today to address the liquidation risk issue. Many people know that all my loans have been liquidated. My position size was too large for the market to bear, resulting in $10 million in bad debt. Only the CRV pool on the Curve lending platform (lend.curve.fi) was affected. I have repaid 93% and plan to repay the remaining bad debt soon, which will help users avoid losses due to this situation."

ChainCatcher news, UwU Lend announced on social media that all bad debts in the wETH market have been cleared, totaling 481.36 wETH (approximately $1,734,042). A total of $9,715,288 has been repaid so far, which includes:3,522,427 DAI;233,819 crvUSD;4.225 million USDT;481.36 wETH;ChainCatcher previously reported that according to on-chain analysis platform Arkham's disclosure on social media, the DeFi lending protocol UwU Lend may have vulnerabilities, and currently, $19.3 million in funds have been withdrawn from the protocol.

ChainCatcher news, according to Etoday, South Korean virtual asset management and lending platform Delio has announced a plan to fully repay user debts before CEO James Jung's upcoming criminal trial and the platform's bankruptcy hearing. The repayments will be made in four installments: 20%, 20%, 25%, and 35%. However, Delio has not specified the exact timing of these repayments, the amount of funds held, or the source of the repayment funds. It is estimated that Delio owes a total of 247.4 billion won (approximately 179.8 million USD) to about 2,800 creditors.Earlier this January, South Korea issued arrest warrants for key figures in the Delio-Haru Invest withdrawal suspension case.

ChainCatcher news, according to Ming Pao reports, the unlicensed virtual asset platform JPEX in Hong Kong, reported last September, is suspected of violating regulations by promoting and operating in Hong Kong. Two of the victims in the case have hired lawyers to represent them and officially filed a lawsuit in the regional court yesterday against the JPEX group and a total of 7 related defendants, seeking to recover 240,000 Tether or 1.85 million Hong Kong dollars, marking the first civil claim against JPEX. Zhu Qiaohua, a consultant lawyer at Haocen Law Firm representing the plaintiffs, stated that if the claim is successful, it could serve as an example to help more victims recover their losses.Zhu Qiaohua mentioned that the criminal investigation is still ongoing, but there is a 6-year limit for filing civil lawsuits. If they wait for the criminal investigation to conclude before seeking compensation, there may not be enough time to initiate civil proceedings; any developments during the civil lawsuit could also impact the criminal prosecution. Tasman Tam, the barrister representing the two plaintiffs, explained that they will pursue several causes of action to try to recover losses for the plaintiffs, one of which is based on the fiduciary duty of the JPEX group (the defendants include JPEX's registered companies in Australia and Hong Kong) in the incident. All involved virtual currencies are held in trust by JPEX or related parties, with the actual owners of the virtual assets being the plaintiffs, and the defendants are required to return the relevant virtual assets.It is reported that as of April 18 this year, the police have received reports from 2,636 victims in the JPEX case, involving approximately 1.6 billion Hong Kong dollars, with 72 people arrested and assets worth about 228 million Hong Kong dollars frozen.

ChainCatcher news, the DeFi composable leverage protocol Gearbox stated that some users were liquidated due to the depegging of ezETH, but the protocol's passive lenders did not incur bad debts. The team will release a report reviewing this incident.

ChainCatcher news, according to Lookonchain monitoring, a large holder sold all 10,701 ETH (worth about 33 million USD) on the Binance platform two hours ago to repay debts, incurring a loss of over 4 million USD again. This is the second time this holder has lost money due to going long on ETH. Last time, he lost about 500,000 USD.This holder previously adopted a strategy of going long on ETH by depositing ETH on the Compound platform and borrowing USDT to purchase more ETH.

ChainCatcher message, Maker tweeted that the RETH-A treasury is being removed from Maker, and the maximum debt ceiling for RETH-A has been reduced to 0. An upcoming executive vote will deploy parameter changes to complete the process of RETH-A's exit from the Maker protocol. Once all parameters are changed and deployed to the Maker protocol, all RETH-A positions with a collateralization ratio below 10000% will be liquidated.Spark continues to offer rETH as a collateral asset, with a free supply cap of approximately 40,000 rETH. Maker strongly advises RETH-A users to fully repay their DAI debt and close all RETH-A vaults on the Maker protocol before the delisting is completed.

ChainCatcher news, according to The Block, Mt. Gox stated in an email that the Mt. Gox trustee plans to start repaying creditors in cash form soon in 2023. However, given the large number of restructuring creditors, repayments may "continue into 2024."ChainCatcher previously reported that on September 21, according to an official announcement, the cryptocurrency exchange platform Mt. Gox announced a change in the repayment deadline. The original deadline for the basic repayment, early lump-sum repayment, and mid-term repayment, which was set for October 31, 2023, has been extended to October 31, 2024.

ChainCatcher news, according to Lookonchain monitoring, the whale address starting with 0xb82 that went long on ETH has just sold 12,048 ETH (approximately 23.4 million USD) to repay debts, making over 2 million USD in profit from this transaction.On October 23, this address purchased 12,047 ETH (approximately 21.3 million USD) from Binance, when the price of ETH was around 1,768 USD. The address went long on ETH by depositing ETH into Aave & Compound and borrowing USDT to buy more ETH.

ChainCatcher news, according to finbold, FTX plans to sell approximately $100 million worth of cryptocurrency each week. This plan has not yet been finalized due to potential intervention from the SEC or other regulatory agencies.FTX currently holds about 10% of the total supply of SOL, valued at over $3.3 billion. Additionally, it holds BTC worth $742 million, ETH worth approximately $226 million, APT worth about $180 million, and XRP worth approximately $143 million.

ChainCatcher news, according to The Block, Thomas Braziel, a partner at 117 Partners specializing in FTX claims, stated that some valuations of FTX claims in the over-the-counter market have exceeded 50%, indicating that the market currently expects about half of the user assets to be recovered. Last Friday, a claim worth over $20 million was sold at auction for about 52%, but only the "largest and cleanest claims" could fetch this price.Since the artificial intelligence company Anthropic recently announced several large investments, enthusiasm around the value of FTX claims has grown. FTX holds a significant stake in Anthropic due to a $500 million investment, and Anthropic's valuation has gradually increased throughout the year. Creditors hope that selling Anthropic shares will help return funds to creditors, potentially leading to full recovery.In a social media poll conducted in January this year, most respondents indicated that they expected to recover only 25% of their funds. Subsequently, the FTX debtors, led by current CEO John Ray III, have attempted to recover funds by starting to sell tokens and liquidate other assets.

ChainCatcher news, according to Cointelegraph, after the Nigerian cryptocurrency exchange Patricia issued tokens PTK to manage user debts, the exchange's CEO Fejiro Hanu confirmed that customers can now choose to convert their owed funds into Patricia shares. These shares will be managed by a trusted third-party trustee licensed by the U.S. Securities and Exchange Commission (SEC) to ensure complete transparency.It is reported that Patricia disclosed a security incident in May 2023 that led to financial losses. Although it claimed that customer funds were unaffected, platform users have been struggling to withdraw from the exchange since April.

ChainCatcher news, according to Lookonchain monitoring, a whale that went long on WBTC, ETH, LINK, UNI, and MKR on Aave has started selling WBTC to repay debts.It is reported that they deposited $11 million in assets on Aave and borrowed $8.45 million in stablecoins, with the current health factor at 1.08, close to liquidation risk.