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In November 2025, FTX filed a $1 billion lawsuit against Bybit and its investment arm, Mirana, alleging they exploited VIP access and close ties with FTX The lawsuit alleges that Bybit used its “VIP” access and close ties with FTX staff to withdraw cash and digital assets just before the crypto empire’s collapse in November FTX bankruptcy advisers alleged that even after the Chapter 11 filing, Bybit and its affiliates “continued their unlawful efforts” to prioritize themselves over other FTX In a Nov. 10 filing with the United States Bankruptcy Court of Delaware, FTX’s estate alleged that Bybit must pay back $953 million worth of crypto assets. FTX claims The bankruptcy estate of FTX filed its latest lawsuit on Friday as part of its attempt to make customers whole, suing the crypto exchange Bybit for nearly $1 billion. FTX's bankruptcy team pursues Bybit Fintech in $1B lawsuit over VIP allegations, underscoring legal battles and competition in the cryptocurrency sector. The lawsuit alleges that Bybit and its affiliates used VIP connections to prioritize withdrawals and withheld $125 million from FTX. FTX and Alameda bankruptcy

FTX Sues Bybit for Nearly $1 Billion Over Alleged VIP Withdrawals

The FTX bankruptcy estate is aggressively pursuing avenues to recover funds and make creditors whole. Their latest target? Crypto exchange Bybit. FTX\'s bankruptcy team pursues Bybit Fintech in $1B lawsuit over VIP allegations, underscoring legal battles and competition in the cryptocurrency sector. The lawsuit centers around claims that Bybit exploited its privileged access to the FTX platform in the days leading up to its collapse.

In November 2025, FTX filed a $1 billion lawsuit against Bybit and its investment arm, Mirana, alleging they exploited VIP access and close ties with FTX. FTX claims The bankruptcy estate of FTX filed its latest lawsuit on Friday as part of its attempt to make customers whole, suing the crypto exchange Bybit for nearly $1 billion. The suit accuses Bybit and its affiliates of prioritizing their own withdrawals at the expense of other FTX users during the platform\'s liquidity crisis.

Allegations of VIP Exploitation

The lawsuit alleges that Bybit and its affiliates used VIP connections to prioritize withdrawals and withheld $125 million from FTX. The lawsuit alleges that Bybit used its “VIP” access and close ties with FTX staff to withdraw cash and digital assets just before the crypto empire’s collapse in November. According to court documents, Bybit allegedly leveraged its "VIP" status and insider relationships to expedite withdrawals, potentially disadvantaging other FTX customers who were unable to access their funds.

The Amount in Question: Approaching $1 Billion

In a Nov. 10 filing with the United States Bankruptcy Court of Delaware, FTX’s estate alleged that Bybit must pay back $953 million worth of crypto assets. This substantial amount underscores the severity of the allegations and the significant impact Bybit\'s actions may have had on FTX\'s liquidity crisis and subsequent collapse.

Bybit\'s Alleged Continued Unlawful Efforts

FTX bankruptcy advisers alleged that even after the Chapter 11 filing, Bybit and its affiliates “continued their unlawful efforts” to prioritize themselves over other FTX creditors. This alleged behavior further complicates the legal battle and could have significant implications for the ongoing bankruptcy proceedings. The case hinges on proving that Bybit\'s withdrawals were prioritized and contributed to the detriment of other FTX users and creditors. This legal action is occurring as part of FTX and Alameda bankruptcy.

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