Investment bank Attestor has made nearly 200% profit in the bankruptcy claim investment on FTX, and has filed a lawsuit against the main seller for breach of contract

Mars Financial News reported that London boutique investment bank Attestor Ltd, specializing in distressed assets trading, has gained nearly 200% profit from the FTX bankruptcy case. Attestor had previously purchased around $400 million worth of FTX bankruptcy asset claims, and the bankrupt lawyer now estimates that the market surge will allow investors to recover all frozen funds from the time of FTX's bankruptcy. However, Lemma Technologies, a Panama-based company and seller of a significant amount of FTX account assets acquired by Attestor, has chosen to retain rights to these claims. In response, Attestor has filed a lawsuit in New York court citing this as an apparent case of "seller's remorse."

According to evidence submitted to the court, last June Lemma agreed to sell the FTX claim for $58 million; however, the claim is now valued at $165 million. Lemma has not publicly explained its stance on this case nor defended against Attestor's New York litigation. Witnesses' lawyers stated in documents that Lemma would not "continue with transactions or otherwise honor transaction confirmations" unless legally compelled to do so. Junho Bang, one of Lemma's main investors, is currently facing unrelated charges in Seoul which have added drama and complexity to this case. He is accused of embezzling digital assets from crypto lending institution Haru Invest and was indicted by South Korean authorities in February.