FTX has a legal action launched against NFT Stars and Delysium (Kurosemi). They are expecting them to get digital tokens that they’ve already purchased back. Those suits were filed in a Delaware bankruptcy court. Each plaintiff claims that these firms failed to provide the promised number of tokens, from crypto to NFTs, as they claimed they would. This action follows FTX’s overall plan to recover assets of the estate and recover for the benefit of its creditors to the extent possible.
Under terms of the agreements, NFT Stars and Delysium were required to issue the tokens starting in April 2023, per the complaints. The settlement required that 20% of the tokens vest after 12 months. The rest of the tokens will be unlocked slowly over the next 48 months. In fact, the token release stopped dead in its tracks when FTX filed for bankruptcy in November 2022.
FTX is currently asking the court to order the return of the rest of the tokens. FTX’s lawsuit seeks financial damages to recoup the profits it says it lost as a result of the non-delivery. In addition, they are cluing into the tokens used in this debate. On April 29, 2025, the company declared that it was preparing to sue these token issuers and others. With this effort, they seek to ensure accountability for those who are unwilling to participate in good faith conversations centered on returning assets.
Neither NFT Stars nor Delysium have released any statements publicly regarding the lawsuits. Requests for confirmation from each company have gone unanswered. These legal actions show FTX’s commitment to recovering as many assets as possible for the benefit of its creditors throughout the bankruptcy proceedings.
FTX’s legal strategy is focused on recouping costs from Token and Coin Issuers That Refused to Cooperate in Returning Assets to the Estate. FTX is suing to compel these entities to fulfill their contracts. They’re asking them to redeem the unfilled digital tokens. The impact of these lawsuits’ winners and losers could be crucial for other similar settlements and for the digital asset ecosystem at large.
